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Twitter CEO to Get $42 Million if Sacked after Elon Musk Takeover

Twitter Inc CEO Parag Agrawal would get an estimated $42 million if he were terminated within 12 months of a change in control at the social media company, according to research firm Equilar.

Twitter CEO to Get $42 Million if Sacked after Elon Musk Takeover

New York: Twitter Inc CEO Parag Agrawal would get an estimated $42 million if he were terminated within 12 months of a change in control at the social media company, according to research firm Equilar.

On Monday billionaire Elon Musk struck a deal to buy Twitter for $44 billion, ending its run as a public company since 2013.

Musk in a securities filing on April 14 had said he did not have confidence in Twitter's management.

Equilar's estimate includes a year's worth of Agrawal's base salary plus accelerated vesting of all equity awards, an Equilar spokesperson said, based on Musk's offering price of $54.20 per share and terms in the company's recent proxy statement.

A Twitter representative declined to comment on Equilar's estimate.

Agrawal, previously Twitter's chief technology officer, was named CEO in November. His total compensation for 2021 was $30.4 million, according to Twitter's proxy, largely in stock awards.

Original News: World | Reuters

(Except for the headline, this story has not been edited by Scrabbl staff and is published from a syndicated feed.)


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