Shulou(Shulou.com)11/24 Report--

On December 6, after Elon Elon Musk took over Twitter, he immediately fired a number of executives at the company, but they became richer as a result. It is reported that three of the former executives received a total of nearly $200 million in "severance pay."

Mr Musk fired Parag Agrawal, chief executive of Twitter, Ned Segal, chief financial officer, and Vijaya Vijaya Gadde, chief legal officer, immediately after completing the deal in late October.

However, under the acquisition agreement, the company shares acquired by the executives who previously worked on Twitter can be converted into cash at a price of $54.20 a share. In addition, these people can also receive restricted stock awards that have not yet been exercised.

According to the terms of the contract filed with the Securities and Exchange Commission (SEC) earlier, after Musk was fired the day he officially owned Twitter, all executives were entitled to common stock dividends and expedited the award of any unexercised restricted stock awards.

The shares held by the fired Twitter executives are now converted into cash and paid in full, according to other recent disclosures submitted to SEC. Mr Musk said earlier that all executives were fired "for good reason", so he would not pay them additional compensation as required by the contract.

Agrawal held about 927000 Twitter common shares at the time of his dismissal, valued at $50.2 million at Mr Musk's purchase price, according to the documents. At the same time, Agraval received another 241508 restricted stock awards at the time of his dismissal, worth about $13 million. As a result, he left Twitter with a total of $63 million (currently about 439 million yuan) in severance pay.

Siegel owned about 945000 shares of Twitter common stock, worth $51.2 million, when he was fired. At the same time, Siegel will also receive an award of 241508 restricted shares, worth about $13 million. He took a total of $64 million (currently about 446 million yuan).

By the time he was fired, Gard had been working on Twitter for 11 years and owned more than 1 million common shares worth $59.5 million. Like Agravar and Siegel, she won 241508 restricted stock awards, valued at $13 million. Garde received the highest severance payment, totaling more than $72 million (currently about 502 million yuan).

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