New Delhi: Parag Agrawal, who has lately been named because the CEO of microblogging platform Twitter, will obtain an annual wage of USD 1 million together with different perks and bonuses.
The India-born government – who succeeds Jack Dorsey on this position – served as Twitter’s Chief Expertise Officer since 2017, and has been chargeable for the corporate’s technical technique.
He joined the corporate in 2011 as a software program engineer, main efforts on scaling Twitter Advertisements techniques, in addition to reaccelerating viewers development by enhancing Dwelling timeline relevance.
“…Agrawal will obtain an annual wage of USD 1,000,000 and can proceed to be a participant within the firm’s government bonus plan with a brand new goal bonus of 150 per cent of his annual base wage. Underneath the phrases of the Supply Letter, in December 2021, the Board will grant to Mr Agrawal restricted inventory models (RSUs) with a grant date face worth of USD 12,500,000,” a regulatory submitting by Twitter to the US SEC, stated.
The submitting added that the RSUs will vest in 16 equal quarterly increments (every being 6.25 per cent of the grant) beginning February 1, 2022, topic in every case to Agrawal remaining an worker of Twitter by means of the relevant vesting date.
In April 2022, the Board will grant Agrawal performance-based RSUs (PRSUs) with a grant date face worth of USD 12.5 million. The efficiency objectives for these PRSUs might be decided by the Compensation Committee of the Board on or earlier than the grant date.
Agrawal, 37, holds a bachelor’s diploma from IIT Bombay and a PhD in pc science from Stanford College.
In line with earlier filings, Dorsey had earned USD 1.40 in 2019 – flat from the yr earlier than – because the co-founder believes in “Twitter’s long-term worth creation potential”.
Agrawal has joined the rising checklist of India-born CEOs of tech corporations that features names like Sundar Pichai (Google), Satya Nadella (Microsoft), Arvind Krishna (IBM), Shantanu Narayen (Adobe) and Rangarajan Raghuram (VMware).
The US-based microblogging platform counts India amongst its main markets with an estimated 1.75 crore customers.