The top executives of the Twitter are given good pays, but even this could not stop them from quitting one of the biggest social media platforms. In fact, the highly paid two bosses of Twitter, CTO Adam Messinger, and COO Adam Bain left the job in 2016, giving up on the serious amount and gave their resignations. What they left behind? More than $35 million in the stock awards altogether. This is a lot much, even for the executives of the Silicon Valley.
As the records show that Bain earned nearly $1 million from his pay and bonuses. He was given the stock awards of more than $28 million. Messinger earned almost half of this amount, without any bonus and more than $19 million in the stock award.
These amounts were given by Twitter on Friday when the company filed its proxy statement with the Exchange Commission and Security companies ahead of Twitter’s upcoming shareholder’s annual gathering.
The documentation, with all other stuff, comprised of the compensation totals for the members of the board and other major executives. Talking about the Twitter’s stock, it slid nearly 30% of its amount in total during 2016, when many executives were fast to check out that it is the main executives who were to make out nicely instead of doing the hard efforts.
One thing which obviously came up during this meeting is the name of two highly paid bosses of the company. Bain and Messinger, who earned more than $49 million in just 2016 altogether thus leaving the company by the end of the year. At least, that’s what members of gathering talked about.
In actual, the wide number of that compensation brought up in the form of the stock awards which were to be paid for more than four years. And just a few of these shares vested in 2016, almost 26% of them, as per the file records. This means that Duo didn’t receive $49 million during last year. Despite the fact, they were given nearly $14 million combined, including the pays and left behind the stock awards of $35 million before they quitted the company.
This is still the handsome deal, but the thing which matters more here is the heavy load of the cash which can’t keep the bosses to leave the Twitter.