Twitter CEO Parag Agrawal to receive $1 million annual salary


The Hindu

Write Comment     |     E-Mail To a Friend     |     Facebook     |     Twitter     |     Print


Twitter CEO Parag Agrawal to receive $1 million annual salary

Parag Agrawal, who has recently been named as the CEO of microblogging platform Twitter, will receive an annual salary of $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 USD1,000,000 and will continue to be a participant in the company’s executive bonus plan with a new target bonus of 150% 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 USD12,500,000,” a regulatory filing by Twitter to the U.S. SEC, said.

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

In April 2022, the Board will grant Agrawal performance-based RSUs (PRSUs) with a grant date face value of $12.5 million. The performance goals for those PRSUs 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 PhD in computer science from Stanford University.

According to previous filings, Dorsey had earned $1.40 in 2019 — flat from the year before — as the co-founder believes in “Twitter’s long-term value creation potential”.

On November 29, Dorsey had announced that he is stepping down from his position, and named Agrawal as his successor. Dorsey will remain on the Board until his term expires in 2022.

Agrawal has joined the growing list of India-born CEOs of tech companies that includes names like Sundar Pichai (Google), Satya Nadella (Microsoft), Arvind Krishna (IBM), Shantanu Narayen (Adobe CEO) and Rangarajan Raghuram (VMware). The U.S.-based microblogging platform counts India among its major markets with an estimated 1.75 crore users.

Write your Comments on this Article
Your Name
Native Place / Place of Residence
Your E-mail
Your Comment   You have characters left.
Security Validation
Enter the characters in the image above
    
Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Kemmannu.com will not be responsible for any defamatory message posted under this article.
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on kemmannu.com to provide the IP address and other details of senders of such comments, to the authority concerned upon request. Hence, sending offensive comments using kemmannu.com will be purely at your own risk, and in no way will Kemmannu.com be held responsible.
Similarly, Kemmannu.com reserves the right to edit / block / delete the messages without notice any content received from readers.




Traffic chaos in Santhekatee-Kallianpura-Nejar Roa [2 Comments]
View More

Rozaricho Gaanch - Mount Rosary January 2022Rozaricho Gaanch - Mount Rosary January 2022
Milarchi Lara - Milagres Cathedral - January 2022Milarchi Lara - Milagres Cathedral - January 2022
Remembrance Mass Of Benedict Philip D’souza | LIVE From KemmannuRemembrance Mass Of Benedict Philip D’souza | LIVE From Kemmannu
New Year Mass by Bishop Oswald Lewis/Adoration and Felicitation | 2022 | LIVE From Kemmannu,Udupi.New Year Mass by Bishop Oswald Lewis/Adoration and Felicitation | 2022 | LIVE From Kemmannu,Udupi.
Vivek weds Lavina | LIVE From Brahmavar Sports Club Ground | ReceptionVivek weds Lavina | LIVE From Brahmavar Sports Club Ground | Reception
Two plots for Sale Near Nejar Water Tank, 1 km to Santhekatte, Kallianpura.Two plots for Sale Near Nejar Water Tank, 1 km to Santhekatte, Kallianpura
Rozaricho Gaanch September Issue 2021Rozaricho Gaanch September Issue 2021
Land/Houses for Sale in Kaup, Manipal, Kallianpur, Santhekatte, Uppor, Nejar, Kemmannu, Malpe, Ambalpady.Land/Houses  for Sale in Kaup, Manipal, Kallianpur, Santhekatte, Uppor, Nejar, Kemmannu, Malpe, Ambalpady.
Contact on Going Residential ProjectAl Nayaab Residency, UdupiContact on Going Residential ProjectAl Nayaab Residency, Udupi
Choice Furniture vast household showroom opens at Santhekatte, KallianpurChoice Furniture vast household showroom opens at Santhekatte, Kallianpur
Focus Studio, Near Hotel Kidiyoor, UdupiFocus Studio, Near Hotel Kidiyoor, Udupi