Twitter offers new equity grants to employees: report
(RTTNews) – Elon Musk’s Twitter is offering new equity grants to its employees that will begin vesting after six months, The Wall Street Journal reported, citing an email sent to staff on Friday evening.
Twitter plans to offer a liquidity event in about a year, where employees can withdraw some of their equity. The number of employees who received the stock awards and the value of the shares could not be known, the Journal reported.
After taking Twitter private in a $44 billion acquisition in October 2022, Musk fired CEO Parag Agrawal and CFO Ned Segal, along with some other key executives, and also fired nearly half of his employees.
The Wall Street Journal reported on Saturday that the new grants will vest over four years and will be in addition to and separate from any Twitter legacy capital that was converted to cash upon acquisition in October 2022.
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