India-born Parag Agrawal, the former chief technical officer (CTO) of microblogging platform Twitter is going to be the new CEO of the company. He is stepping in as the co-founder of the company Jack Dorsey put his papers after a stint of 16 long years.
Now the netizens are inquisitive about knowing the bucks Parag will draw as compensation as the CEO of the company.
Parag Agrawal Salary and other Perks
Financial documents filed to the US Securities and Exchange Commission (SEC) show that the newly appointed Twitter chief will get an annual salary package of $1 million-plus bonuses.
The Twitter offer letter to Parag confirms that effective from November 29, 2021, he will get an annual salary of $1,000,000 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.
Along with this whopping salary amount, Agarwal will also receive restricted stock units (RSUs) valued at $12.5 million. The RSUs will vest in 16 equal quarterly increments (each being 6.25% of the grant) starting February 1, 2022, subject to each case. Moreover, Agrawal will also be entitled to enjoy Twitter’s employee benefits plans and programs.
On his elevation as the company’s CEO, Twitter said the following:
“Parag Agrawal joined Twitter in 2011 and has served as Chief Technology Officer (CTO) since October 2017. As CTO, he has been responsible for the Company’s technical strategy, leading work to improve development velocity while advancing the state of Machine Learning across the company.
Prior to being appointed CTO, Parag had risen to be Twitter’s first Distinguished Engineer due to his work across revenue and consumer engineering, including his impact on the re-acceleration of audience growth in 2016 and 2017.”
Parag Agrawal is an IIT Mumbai alumnus who has completed his higher studies at prestigious Stanford University. He has been working with Twitter since 2011. Since 2017, he has been the Chief Technology Officer on Twitter. Now he has been appointed the CEO of the company.
Before joining Twitter, Agrawal had also worked with major technology companies such as Microsoft, AT&T, and Yahoo.
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