Parag Agrawal, who has lately been named as the CEO of microblogging platform Twitter, will obtain an annual profits of USD 1 million along with other perks and bonuses.
The India-born executive - who succeeds Jack Dorsey on this function - served as Twitter's Chief Technology Officer considering 2017, and has been liable for the agency's technical method.
He joined the organisation in 2011 as a software program engineer, leading efforts on scaling Twitter Ads systems, as well as reaccelerating target market boom by improving Home timeline relevance.
"...Agrawal will acquire an annual earnings of USD a million and could stay a player inside the organization's government bonus plan with a brand new goal bonus of 150 according to cent of his annual base income. Under the phrases of the Offer Letter, in December 2021, the Board will supply to Mr Agrawal confined stock gadgets (RSUs) with a grant date face value of USD 12,500,000," a regulatory filing by means of Twitter to america SEC, stated.
The submitting delivered that the RSUs will vest in sixteen equal quarterly increments (each being 6.25 according to cent of the grant) starting February 1, 2022, concern in every case to Agrawal final an worker of Twitter via the applicable vesting date.
In April 2022, the Board will furnish Agrawal performance-primarily based RSUs (PRSUs) with a supply date face fee of USD 12.Five million. The performance goals for those PRSUs will be decided by means of the Compensation Committee of the Board on or earlier than the provide date.
Agrawal, 37, holds a bachelor's degree from IIT Bombay and a PhD in pc science from Stanford University.
According to preceding filings, Dorsey had earned USD 1.Forty in 2019 - flat from the 12 months before - because the co-founder believes in "Twitter's lengthy-term price creation ability".
On November 29, Dorsey had announced that he's stepping down from his function, and named Agrawal as his successor. Dorsey will continue to be at the Board till his term expires in 2022.
Agrawal has joined the developing list of India-born CEOs of tech organizations that includes names like Sundar Pichai (Google), Satya Nadella (Microsoft), Arvind Krishna (IBM), Shantanu Narayen (Adobe CEO) and Rangarajan Raghuram (VMware).
The US-based totally microblogging platform counts India among its primary markets with an estimated 1.75 crore customers.
Comments