DH Latest NewsDH NEWSLatest NewsNEWSInternationalBusinessbusiness

Twitter CEO Parag Agrawal to get round $42 Million if terminated after Musk’s takeover


New York: Parag Agrawal, Twitter Inc CEO, would get an estimated $42 million if he gets terminated within 12 months of a change in control at the social media company, according to research firm Equilar. Twitter has officially confirmed that Elon Musk clinched a deal to buy Twitter for $44 billion on Monday, in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the billionaire.

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.

Read more: Elon Musk clinches deal; Acquires Twitter for $44 Billion

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. When he stepped up as CEO, the company set his annual salary at $1 million, with a potential bonus of up to $1.5 million. Based on today’s Twitter pricing alone, Agrawal’s net worth is at least $26 million, according to regulatory filings compiled by Factset.



Post Your Comments

Back to top button