Parag Agrawal, CEO of Twitter Inc., would earn an estimated $42 million if he were fired within 12 months of a change of control at the social media company, according to research firm Equilar.
On Monday, billionaire Elon Musk reached a deal to buy Twitter for $44 billion, ending its run as a public company since 2013. Musk in an April 14 securities filing had said he did not trust Twitter’s management.
Equilar’s estimate includes one year’s worth of Agrawal’s base salary plus accelerated vesting of all stock awards, an Equilar spokesman said, based on Musk’s offer price of $54.20 per share and terms in the recent announcement. company proxy statement. A Twitter representative declined to comment on Equilar’s estimate.
Agrawal told employees Monday that the future of the social media firm is uncertain after the deal closes to be taken private under Musk. He was speaking at a town hall meeting that was heard by Reuters.
“Once the deal closes, we don’t know which way the platform is going to go,” Agrawal said. Musk will join Twitter staff for a question-and-answer session at a later date, the company told employees. Agrawal, formerly Twitter’s chief technology officer, was named chief executive in November. His total compensation for 2021 was $30.4 million, according to Twitter’s proxy, much of it in stock awards.