If Twitter Inc. CEO Parag Agrawal is fired within 12 months of a transfer to management, he will get an approximate $42 million payout. Elon Musk, the billionaire, agreed to acquire Twitter for $44 billion on Monday, ending the business’s stint as a public corporation, which began in 2013. Musk expressed his dissatisfaction with Twitter’s management in a regulatory filing on April 14.
Depending on Musk’s offering price of $54.20 per share and conditions in the company’s latest prospectus, Equilar’s calculation includes a year’s valuation of Agrawal’s basic pay as well as expedited vesting of all stock awards, according to an Equilar spokesman.
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