Elon Musk fired 3 Twitter executives. And it could cost him $187 million: A blog about Elon musk firing the three Twitter executives and the consequences of doing so.
The Inside Scoop on Elon's Takeover at Tesla: Parag Agrawal, Ned Segal, Vijaya Gadde Out as All Shares Now Held by Musk: A blog about what happened with the oustings.
No matter what happens here, the people who are left on board with Musk will still get paid out. They’ll receive 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.
Musk poured millions of his own money into the deal. Agrawal, who only assumed 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.
"Golden Parachute Compensation" is also part of the agreement, which was approved by shareholders when they merged their companies earlier this year. They include a year's base pay, worth between $1 million and $1.5 million each for Agrawal, Segal, and Gadde. Each of them also gets health insurance worth about $73,000 per person in total—just under the threshold where they're required to pay taxes on it.
An interesting feature of the settlement with Helios 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 the accelerated vesting of only half of her shares.
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