By Chris Isidore | CNN Enterprise
The three prime Twitter executives whom Elon Musk fired Thursday will stroll out the door with about $187 million of Musk’s cash.
Former CEO Parag Agrawal, former CFO Ned Segal and former Chief Authorized Officer Vijaya Gadde had been ousted after Musk took management of the corporate late Thursday, in keeping with a supply aware of the scenario.
They’d have obtained a big chunk of that cash even when they’d stayed on board beneath the brand new possession — they and different shareholders will obtain payouts from Musk after he purchased their shares for $54.20 every.
Agrawal, who solely assumed the CEO title rather less than a yr in the past, had the smallest inventory holdings of the three: 155,000 shares value $8.4 million on the value Musk paid. Segal will get $22 million for the 406,000 shares he owns whereas Gadde will stroll away with $34.8 million for her 642,000 shares.
However additionally they obtain “Golden Parachute Compensation” within the merger settlement permitted by shareholders. That features a yr’s base pay — $1 million for Agrawal and $600,000 every for Segal and Gadde. In addition they will get a yr of medical insurance, value about $73,000 among the many three.
Essentially the most profitable half by far is the accelerated vesting of inventory they stood to obtain sooner or later however had not but certified for. That can find yourself being value $56.4 million for Agrawal, $43.8 million for Segal and $19.4 million for Gadde. Agrawal and Segal get the accelerated vesting of all of their shares whereas Gadde will get accelerated vesting of solely half of her shares.
Added up, the parachute funds come to $121.8 million. Add on the $65.2 million for the acquisition of the shares they already personal and also you get $187 million.
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