Twitter Inc CEO Parag Agrawal would get an estimated $42 million if he were terminated within 12 months of a change in control at the social media company, according to research firm Equilar.
On Monday, billionaire Elon Musk struck a deal to buy Twitter for $44 billion, ending its run as a public company since 2013. Musk in a securities filing on April 14 had said he did not have confidence in Twitter’s management.
Equilar’s estimate includes a year’s worth of Agrawal’s base salary plus accelerated vesting of all equity awards, an Equilar spokesperson said, based on Musk’s offering price of $54.20 per share and terms in the company’s recent proxy statement.
A Twitter representative declined to comment on Equilar’s estimate.
Agrawal told employees on Monday that the future of the social media firm is uncertain after the deal to be taken private under Musk closes. He was speaking to a town hall meeting that was heard by Reuters.
“Once the deal closes, we don’t know which direction the platform will go,” Agrawal said.
Musk will join Twitter staff for a question-and-answer session at a later date, the company told employees.
Agrawal, previously Twitter’s chief technology officer, was named CEO in November. His total compensation for 2021 was $30.4 million, according to Twitter’s proxy, largely in stock awards.