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What is the Salary of Twitter CEO Parag Agrawal?
In April, the company announced that new CEO Parag Agrawal would receive $1 million a year, along with RSUs and PRSUs. Agrawal will also participate in the company’s annual meeting. Eventually, he will receive an estimated $42 million if he leaves the company. Read on to learn more. This article will detail Agrawal’s salary and other compensation at Twitter.
Parag Agrawal will receive $1 million in salary
Founder and CEO Jack Dorsey is stepping down after Elon Musk bought Twitter for $44 billion. The company’s next CEO will be Elon Musk, who will replace Dorsey on Nov. See the article : Is a Business Twitter Account Free?. 29, 2021. Twitter had a succession of executives before Dorsey, including Agrawal, who rose from an engineering position to become the company’s chief technology officer. However, the future of Parag Agrawal is in doubt as the next CEO of Twitter will likely take the company private and bring in his own people to replace him.
The company has filed a report with the US Securities and Exchange Commission detailing the salary for its new CEO, who will also receive restricted stock units valued at $12.5 million. These will vest in sixteen equal quarterly increments, with performance-based RSUs awarded in April 2022. The compensation package for the new Twitter CEO is expected to include additional bonus money. However, it will not be clear whether Agrawal will receive a bonus for the promotion or the new role.
He will also receive RSUs and PRSUs
Parag Agrawal, the new CEO of Twitter, will earn $1 million per year and receive RSUs and PRSUs valued at $12.5 million, beginning February 1, 2022. The stock units will vest in sixteen equal quarterly installments. To see also : What Happens to My Twitter Stock If it Goes Private?. Twitter also announced that the company will pay the CEO additional bonuses, including the opportunity to earn even more RSUs. Listed below are the benefits of this deal.
The new Twitter CEO has big responsibilities, including raising the company’s revenue. The company plans to pay him $1 million per year in salary, bonuses and restricted stock units valued at close to $12 million. While specific details of the new CEO’s compensation have not been disclosed, we can safely assume that he will also receive RSUs and PRSUs. But he will still need to prove his worth before Twitter can reward its new CEO with RSUs and PRSUs.
He will also participate in the company’s annual meeting
In his first annual meeting as Twitter CEO, Jack Dorsey is not expected to discuss politics, but the controversial Tesla CEO is likely to. Musk has publicly expressed interest in buying the company. Some employees are worried that this would mean that the company will lose its independence and become a private company. Tesla employees receive part of their compensation in stock. Read also : Why Does Twitter Keep Refreshing?. Musk has been critical of Twitter’s decisions in the past. One prominent employee has even been abused by his followers. The CEO’s attendance at the annual meeting is likely to make things more complicated for him.
Agrawal has a history of pursuing technological advances, and he is a close confidant of Dorsey. Agrawal is also an avid proponent of blockchain and cryptocurrencies. Agrawal has worked on related projects at Twitter, such as efforts to enable users to send tips via cryptocurrencies. He also recently hired a crypto-team head. Agrawal also oversees the Bluesky project, which aims to create a decentralized social networking software.
He will get an estimated $42 million if he leaves
Bret Taylor, the board chair of Twitter, did not immediately comment on what the CEO’s compensation would be if he left the company. However, Agrawal was named CEO late last year, succeeding Jack Dorsey. The CEO’s compensation is based on a “Change in Control” clause, which specifically mentions reporting to a publicly traded entity. In other words, if Twitter is taken private, Agrawal and his CFO would both receive $42 million.
Tesla CEO Elon Musk is reportedly close to buying Twitter, which means that the Indian-origin CEO will receive an estimated $42 million in compensation if he leaves the company within a year of Musk taking control. Musk has reportedly stated that he has lost confidence in the current management of Twitter, and has threatened to terminate the CEO and board members if he doesn’t like it. The company’s stock has plummeted since Musk acquired a 9.2% stake.
