Twitter CEO Agrawal to be paid $ 1 million in annual salary

NEW DELHI:

PARAGUE

Agrawal, who was recently appointed CEO of the microblogging platform Twitter, will receive an annual salary of US $ 1 million along with other benefits and bonuses. The India-born executive – who succeeds Jack Dorsey in that role – had been Twitter’s chief technology officer since 2017 and was responsible for the company’s technical strategy. He joined the company in 2011 as a software engineer. “… Agrawal will receive an annual salary of $ 10,000,000 and will continue to participate in the company’s executive bonus plan with a new target bonus of 150% of his annual base salary.” Pursuant to the offer letter, in December 2021, the board of directors will grant Agrawal restricted shares with a par value on the grant date of $ 12,500,000, ”a regulatory file from Twitter told the US SEC. The filing adds that RSUs will vest in 16 equal quarterly increments (each representing 6.25% of the award) effective February 1, 2022, subject in each case to Agrawal remaining an employee of Twitter until that date. applicable acquisition. In April 2022, the board of directors will grant Agrawal performance-based RSUs (PRSUs) with a nominal value on the grant date of US $ 12.5 million.

The performance objectives for such RSUs will be determined by the Compensation Committee of the Board on or before the grant date. Agrawal, 37, holds a bachelor’s degree from IIT Bombay and a doctorate in computer science from Stanford University. According to previous statements, Dorsey made $ 1.40 in 2019 – a fixed amount from the previous year – as the co-founder believes in Twitter’s “long-term value creation potential.” On November 29, Dorsey announced he was stepping down and appointed Agrawal as his successor.

Dorsey will remain on the board until her term expires in 2022. Agrawal has joined the growing list of CEOs of India-born tech companies which includes names like Sundar Pichai (Google), Satya Nadella (Microsoft) , Arvind Krishna (IBM), Shantanu Narayen (CEO of Adobe) and Rangarajan Raghuram (VMware). The US-based microblogging platform counts India as one of its top markets with around 1.75 crore of users.