Twitter CEO Parag Agrawal to get $1mn pa

December 01, 2021 14:29

Twitter CEO Parag Agarwal

Parag Agrawal, who has recently been named as the CEO of microblogging platform Twitter, will receive an annual salary of USD 1 million along with other perks and bonuses.

The India-born executive - who succeeds Jack Dorsey in this role - served as Twitter's Chief Technology Officer since 2017, and has been responsible for the company's technical strategy.

He joined the company in 2011 as a software engineer, leading efforts on scaling Twitter Ads systems, as well as reaccelerating audience growth by improving Home timeline relevance.

"...Agrawal will receive an annual salary of USD 1,000,000 and will continue to be a participant in the company's executive bonus plan with a new target bonus of 150 per cent of his annual base salary. Under the terms of the Offer Letter, in December 2021, the Board will grant to Mr Agrawal restricted stock units (RSUs) with a grant date face value of USD 12,500,000," a regulatory filing by Twitter to the US SEC, said.

The filing added that the RSUs will vest in 16 equal quarterly increments (each being 6.25 per cent of the grant) starting February 1, 2022, subject in each case to Agrawal remaining an employee of Twitter through the applicable vesting date.

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