Elon Musk will have to pay three fired Twitter executives nearly $200 million
By Chris Isidore, CNN Business Updated 11:55 AM EDT, Fri October 28, 2022
The three top Twitter executives whom Elon Musk fired Thursday will walk out the door with about $187 million of Musk’s money.
Former CEO Parag Agrawal, former CFO Ned Segal and former Chief Legal Officer Vijaya Gadde were ousted after Musk took control of the company late Thursday, according to a source familiar with the situation.
They would have received a large chunk of that money even if they had stayed on board under the new ownership – they and other shareholders will receive payouts from Musk after he bought their shares for $54.20 each.
Agrawal, who only assumed the CEO title a little less than a year ago, had the smallest stock holdings of the three: 155,000 shares worth $8.4 million at the price Musk paid. Segal will get $22 million for the 406,000 shares he owns while Gadde will walk away with $34.8 million for her 642,000 shares.
불과 1년도 안 돼 CEO 직함을 승계한 아그라왈은 머스크가 지불한 가격으로 15만 5000주, 840만 달러 상당의 주식을 3개 중 가장 적게 보유하고 있었다. 시걸은 보유 주식 406,000주로 2200만 달러를 받게 되며, 가드는 642,000주로 3480만 달러를 받게 된다.
But they also receive “Golden Parachute Compensation” in the merger agreement approved by shareholders. That includes a year’s base pay – $1 million for Agrawal and $600,000 each for Segal and Gadde. They also will get a year of health insurance, worth about $73,000 among the three.
* parachute payment 명사 패러슈트 페이먼트((영국 축구의 프리미어리그에서 밀려난 팀에게 주는 지원금))
The most lucrative part by far is the accelerated vesting of stock they stood to receive in the future but had not yet qualified for. That will end up being worth $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 while Gadde gets accelerated vesting of only half of her shares.
Added up, the parachute payments come to $121.8 million. Add on the $65.2 million for the purchase of the shares they already own and you get $187 million.
더해서, 패러슈트 보상금 지급액은 1억 2천1백8십만 달러에 달한다. 그들이 이미 소유하고 있는 주식을 매입하기 위해 6520만 달러를 더하면 1억 8700만 달러를 얻을 수 있다.
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