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Elon Musk on the hook to pay more than $200 million to 3 fired Twitter execs
MarketWatch ^ | 10/28/2022 | Jeremy C. Owens

Posted on 10/28/2022 12:37:49 PM PDT by mooncoin

Agrawal, Segal and Gadde own roughly 1.2 million shares of Twitter, more than half of that a $34.8 million stake owned by Gadde. The trio’s roughly $65 million stake would be purchased by Musk like any other shareholder’s stock.

Additionally, a clause in the merger agreement provided accelerated vesting of promised future stock compensation — and that’s where the biggest chunk of money comes in. The “Golden Parachute Compensation” clause in Twitter’s SEC filing — which was the deal approved by Twitter shareholders — shows the trio would automatically vest stock worth $119.6 million as severance if terminated, with the largest payout there going to Agrawal at $56 million.

They’re also entitled to a year’s salary and health benefits. In 2021, Agrawal had a base pay of $623,000, while Segal and Gadde’s base pay was $600,000 each.

In total, Gadde is set to walk away from Twitter with the biggest haul: Nearly $74 million. Agrawal and Segal aren’t far behind her, though, at roughly $65 million and $66 million, respectively.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: elon; elonmusk; musk; tesla; truthsocial; twitter
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To: mooncoin

Elon Musk on the hook to pay more than $200 million to 3 fired Twitter execs.

In pennies happy counting


41 posted on 10/28/2022 1:39:49 PM PDT by Vaduz (LAWYERS )
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To: mooncoin

Least of his worries having overpaid for the company by at least $15 Billion.


42 posted on 10/28/2022 1:42:07 PM PDT by G Larry (Population Control means Killing Billions, not "limiting growth".)
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To: mooncoin

Deport them back to Communist India.


43 posted on 10/28/2022 1:53:03 PM PDT by cp124 (80% of everything is fake or a lie.)
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To: mooncoin

He should make them go to work at HQ - alone, in a room with no phone, no window - only a desk with a PC w/o keyboard, a pencil and a notepad.
Their primary duty would be to spell check all twitter posts M-F, 0800-1700 with breaks as required by labor law.


44 posted on 10/28/2022 1:53:18 PM PDT by Semper Vigilantis (I refuse to grow up and you can't make me!)
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To: mooncoin

Deport them back to Communist India.


45 posted on 10/28/2022 1:53:27 PM PDT by cp124 (80% of everything is fake or a lie.)
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To: allendale

Never fire them. Transfer them to building maintenance.<<<
Agreed! or a desk in the janitors closet with no duties to perform


46 posted on 10/28/2022 1:54:20 PM PDT by usual suspect
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To: BushCountry

I don’t think he’ll do that, I think he knew that was the cost of getting control of twitter.

If anything he could sue the previous board for allowing such egregious contracts to begin with.


47 posted on 10/28/2022 2:05:47 PM PDT by Truthsearcher
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To: mooncoin
which was the deal approved by Twitter shareholders

I believe that the board approved the golden parachutes, not the stockholders.

Could very easily be wrong but this is normally voted on by the board.

48 posted on 10/28/2022 2:05:49 PM PDT by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
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To: mooncoin

Have the attacks on Musk begun yet?


49 posted on 10/28/2022 2:09:43 PM PDT by I want the USA back (Our news media isn't worth camel spit. Neither is the democrat party. )
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To: mooncoin

They did what they got paid for. They turned twitter into a in kind contribution to the democrats. That’s exactly what they were told to do by their leadership. They were very good at it. Way too good. Because in accomplishing their goal they exposed the corruption. That’s what Musk is reacting to with this purchase and dismemberment.

I wish him wisdom and peace. But I highly doubt these Maoists are going to allow this to move forward undeterred. They’re going to give him the treatment. Watch the embedded media/bureaucracy/DoJ spin up against him.


50 posted on 10/28/2022 2:16:50 PM PDT by Samurai_Jack (This is not about hypocrisy, this is about hierarchy!)
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To: mooncoin

Is the left in a tizzy over these huge executive profits?


51 posted on 10/28/2022 2:17:31 PM PDT by jughandle
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To: mooncoin

He’ll let it drag out for 20 or 30 years.


52 posted on 10/28/2022 2:23:23 PM PDT by SkyDancer (I Walk In The Rain So Nobody Can See My Tears)
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To: Opinionated Blowhard

“I am sure these three could be found grossly negligent or to have committed fraud.”

I can only imagine what Musk’s software gurus will discover when they see the source code. How many bots, how much spam, how much censorship. That could result in a good case for negligence of fiduciary duties.


53 posted on 10/28/2022 2:27:27 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes.)
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To: mooncoin

As I’ve noted before, these multi-million dollar payouts are a GREAT BARGAIN for getting them out of power. While I’d like to see them pay financially, if they don’t, I’ll be fine...and so will my kids.


54 posted on 10/28/2022 2:33:58 PM PDT by BobL
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To: mooncoin
Wow! It is a nice gig if you can get it. Who else would get that kind of pay, if they are fired after messing up on the job?!

Run the company into the ground and still walk away filthy rich.

I suggest that now that they are evil millionaires, they should donate a significant portion of their cash to support stopping climate change, saving the arctic ice, and saving the pink eyed owl.

55 posted on 10/28/2022 2:34:08 PM PDT by Moorings
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To: mooncoin

He’ll beat this. He has unlimited money.


56 posted on 10/28/2022 2:38:18 PM PDT by HIDEK6 (God bless Donald Trump. )
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To: mooncoin

lunch money.


57 posted on 10/28/2022 2:46:16 PM PDT by sauropod (The New York Times' 1619 Project's Nikole Hannah-Jones: "all journalism is activism.")
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To: mooncoin

Main street is screwed by Wall Street. Maybe Andrew Carnegie was worth 100 million, but not these jokers.


58 posted on 10/28/2022 2:57:21 PM PDT by Sam Gamgee
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To: mooncoin

‘Market Watch’ is anti-Musk as all their reporting about him all along has been in bad taste toward Musk....also anti-Trump.


59 posted on 10/28/2022 3:04:29 PM PDT by caww (O death, when you seized my Lord, you lost your grip on me......Augustine)
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To: mooncoin

Who says they are selling their stock. They would be smart to keep it.


60 posted on 10/28/2022 3:24:22 PM PDT by bray (The Republic of Texas is available on Barnes and Noble )
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