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.
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BJP names 144 candidates in first list for Bengal polls, fields Suvendu from Bhabanipur
New Delhi (PTI): The BJP on Monday released its first list of 144 candidates for next month’s Assembly elections in West Bengal, fielding Suvendu Adhikari from Bhabanipur in Kolkata, a seat held by Chief Minister Mamata Banerjee.
According to the list, Dilip Ghosh has been fielded from Kharagpur Sadar, Biman Mahto from Salboni, both in Paschim Medinipur district, while Swapan Dasgupta will contest the Rasbehari seat in south Kolkata.
Sumita Sinha will contest from Kanthi Uttar in Purba Medinipur district, Biman Ghosh from Pursurah in Hooghly district, while Madhavi Mahalder has been fielded from Kultali in South 24 Parganas district.
Anima Datta has been fielded from Palashipara in Nadia district, while Lakshikant Sahu has been named the BJP candidate from Jhargram, according to the list.
Trinamool Congress supremo Mamata Banerjee had won from Bhabanipur in the bypoll held in 2021, which was crucial for her to continue as the chief minister after her defeat in Nandigram at the hands of Suvendu Adhikari.
The 294 seats in West Bengal will go to polls in two phases – April 23 and April 29 – with the counting scheduled on May 4.
