Here’s how much salary Parag Agrawal will get as Twitter's new CEO
New Delhi, Dec 1: Parag Agrawal, who has recently been named as the CEO of microblogging platform Twitter, will receive an annual salary of USD 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 USD 1,000,000 and will continue to be a participant in the company's executive bonus plan with a new target bonus of 150 per cent 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 USD 12,500,000," a regulatory filing by Twitter to the US SEC, said.
The filing added that the RSUs will vest in 16 equal quarterly increments (each being 6.25 per cent 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 USD 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 USD 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 US-based microblogging platform counts India among its major markets with an estimated 1.75 crore users.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Congress names candidates for 8 Haryana LS seats, fields Kumari Selja, Deepender Hooda
Chandigarh (PTI): The Congress on Thursday announced candidates for eight of the nine Lok Sabha seats it is contesting in Haryana, fielding former Union minister Kumari Selja, Rajya Sabha MP Deepender Hooda and youth leader Divyanshu Budhiraja, besides two sitting MLAs.
The party has also fielded former MP Jai Prakash and leaders Satpal Brahmachari and Mahendra Pratap, according to the list released late Thursday evening.
The Congress is contesting nine of the 10 Lok Sabha seats in Haryana. It has not yet announced its candidate for the Gurugram constituency.
The Aam Aadmi Party, a constituent of the opposition INDIA bloc, will contest the Kurukshetra seat.
Congress general secretary and former Union minister Selja will contest from the Sirsa (reserved) seat and sitting MLAs Varun Choudhary and Rao Dan Singh from the Ambala (reserved) and the Bhiwani-Mahendragarh Lok Sabha seats, respectively.
Deepender Hooda, son of former chief minister Bhupinder Singh Hooda, will enter the fray from Rohtak. He has represented the Rohtak parliamentary constituency three times in the past.
Jai Prakash has been fielded from Hisar, the Congress' Haryana youth wing president Divanshu Budhiraja from Karnal, Satpal Brahmachari from Sonipat and Mahendra Pratap from Faridabad.
