Anthony Noto, the ex- banker who left his rewarding career at Goldman Sachs Group Inc (NYSE:GS) to take role of financial chief at Twitter Inc (NYSE:TWTR) was the top earner last year. He received pay of $72.8 million last year, including stock awards worth $63.1 million and options valued at $9.5 million. It is as per the Twitter’s annual proxy statement submitted on Monday. The stock payment is “restricted,” indicating Mr. Noto is not allowed to sell some of the company’s shares until 2018. The social media company revealed the details of Mr. Noto’s compensation in July.
Twitter appointed Mr. Noto as financial chief after he assisted steer the company’s IPO while he was working at Goldman. His pay was almost three times the compensation of his predecessor, Mike Gupta. His compensation was $24.6 million, almost the entire pay from stock awards, back in 2013. Mr. Gupta now leads Twitter’s strategic investments.
Dick Costolo, the Chief Executive of Twitter Inc (NYSE:TWTR), was granted no equity awards. It was second consecutive year when he didn’t receive any equity awards. Costolo was paid $13,892 in salary, highlighting a self-imposed compensation cut he requested in August 2013. He owns over eight million company’s shares worth approximately $413 million.
The other earners
Twitter reported that the third highest earner was engineering chief, Alex Roetter. He received an $18.8 million as stock award. It is a part of his total pay of $19.1 million. The others listed as mentioned in the filing cover General Counsel Vijaya Gadde. His compensation was reduced almost half to $7.9 million. Kevin Weil also makes to the list with compensation of $13 million received last year. Twitter is scheduled to report its first-quarter results on April 28, 2015. In the fourth quarter of FY2014, Twitter’s user growth declined but its revenue almost doubled to $479 million.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of USmarketsDaily.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: