Technology

Twitter CEO Parag Agarwal Will Receive $42 Million If Terminated After Musk Takeover

Twitter CEO Parag AGarwal will receive a massive payout if made to leave the company after Musk’s acquisition. (File Photo)

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.

  • Reuters
  • Last Updated:April 26, 2022, 17:53 IST
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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 after founder Jack Dorsey‘s exit. His total compensation for 2021 was $30.4 million, according to Twitter’s proxy, largely in stock awards.

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