How much salary will Parag Agrawal receive as Twitter's CEO?
Parag Agrawal, an IIT-Bombay graduate, who took over as Twitter's new CEO from Jack Dorsey, would be paid a $1 million annual salary plus bonuses.
Twitter CEO Parag Agarwal was announced by the company last night as the successor to founder Jack Dorsey. Agarwal, a 37-year-old IIT Bombay graduate will receive an annual salary of $1 million (roughly Rs 7.5 crores) plus bonuses, Twitter said in a filing with the US Securities and Exchange Commission.
And not just that, he will also be "receiving restricted stock units (RSUs) valued at $12.5 million that will vest in 16 equal quarterly increments, starting February 1, 2022, along with performance-based restricted stock units in April 2022."
Although Twitter didn't go into specific details, the micro-blogging site noted that Agrawal had also received Restricted stock units (RSUs) and Performance Contingent Restricted Stock Units (the “PRSUs”) earlier this year.
Agrawal's predecessor and Twitter co-founder Jack Dorsey had actually declined all compensations and benefits since 2015, excluding the annual salary of $1.40 since 2018.
That said, he has sold hundreds of millions worth of stock in digital payments firm Square in the last few years. Agrawal took charge of the company last night, i.e, the 29th of November, 2021 and now sits in the elite company of Indian-born global tech CEOs like Microsoft’s Satya Nadella, Google’s Sundar Pichai, IBM's Arvind Krishna, and Adobe's Shantanu Narayen.