Musk-Twitter Deal: CEO Parag Agrawal Could Receive $42 Million If Terminated

Elon Musk said that he didn't have confidence in Twitter's management.

By Reuters | Updated: 26 April 2022 11:12 IST

Musk-Twitter Deal: CEO Parag Agrawal Could Receive $42 Million If Terminated

Photo Credit: Twitter

Parag Agrawal, previously Twitter's chief technology officer, was named CEO in November

Highlights

Elon Musk's deal to buy Twitter ends its run as a public company
Twitter CEO Parag Agrawal could earn $42 million (roughly Rs. 320 crore)
Agrawal would get the amount if he were to be terminated within 12 months

Twitter CEO Parag Agrawal would get an estimated $42 million (roughly Rs. 320 crore) 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 (roughly Rs. 3,36,400 crore), 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.

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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 (roughly Rs. 4,100) 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 (roughly Rs. 230 crore), according to Twitter's proxy, largely in stock awards.

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© Thomson Reuters 2022

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