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Twitter CEO set to receive $42 million if terminated after Musk deal

Published 04/25/2022, 03:56 PM
Updated 04/25/2022, 04:06 PM
© Reuters. FILE PHOTO: Illustration shows Twitter logo and a rising stock graph in this illustration taken, April 25, 2022. REUTERS/Dado Ruvic/Illustration
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(Reuters) - Twitter Inc (NYSE:TWTR) 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.

© Reuters. FILE PHOTO: Illustration shows Twitter logo and a rising stock graph in this illustration taken, April 25, 2022. REUTERS/Dado Ruvic/Illustration

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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