About 41.7m shares can be issued in options, warrants and rights under Twitter’s equity compensation plans.
Twitter’s employees have benefited from a generous share scheme, introduced in 2013, taking as much as 50% of their earnings in stock options. Gadde’s 600,000 shares would be valued at $32m, and Personette’s 143,000 would be worth more than $7m. Ned Segal, Twitter’s chief financial officer, would receive a $25.5m payoff if his position was terminated though a CiC, while general council Vijaya Gadde would be in line for $12.5m and the chief customer officer, Sarah Personette, would receive $11.2m.Īgrawal also owns about 128,000 Twitter shares, including some exercisable and vested stock options, the proxy filing shows, which would be worth nearly $7m at Musk’s offer, while Segal’s 394,000 shares would be worth $21m. Several Twitter executives, including Dorsey’s successor, Parag Agrawal, would collect payouts if Musk ends their employment, triggering the accelerated vesting of shares awarded as restricted stock units (a form of compensation and performance-related pay popular in Silicon Valley).Īgrawal would receive a $38.7m package if his tenure ends through a change in control (CiC) event, such as the company being taken private, a proxy statement filed this month with the SEC shows. Current chair Bret Taylor’s stake would be worth around $3m at Musk’s price. Twitter’s former executive chairman, Omid Kordestani, would receive over $50m, based on his holding of 934,247 shares. Dotcom pioneer Martha Lane Fox is a director, and her 32,545 shares would be worth $1.7m (or £1.4m), while Robert Zoellick, the former US deputy secretary of state and ex-president of the World Bank, would get $1.1m.
Other board members hold shares too, and would collect smaller amounts. Dorsey, who stepped down as chief executive last year after pressure from activist investor Elliott Management, still owns 18m shares, or almost 2.4% of its stock, worth $978m at Musk’s agreed offer of $54.20. Twitter’s co-founder is in line to collect almost $1bn in cash once the deal goes through. A regulatory filing dated 12 April, submitted ahead of the company’s annual meeting in May and after Musk’s raid on the company’s shares, discloses the major stock-holders and their stakes.
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