Twitter CEO set to receive $42 million if terminated after Musk deal
FILE PHOTO: Illustration shows Twitter logo and a rising stock graph in this illustration taken, April 25, 2022. REUTERS/Dado Ruvic/Illustration
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.
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