Twitter Discloses New Executive Chairman's Pay

(RTTNews) - Social media company Twitter Inc. (TWTR) disclosed in a regulatory filing that it will pay newly-appointed its executive chairman Omid Kordestani a base salary of $50,000. In addition, Kordestani will be granted the option to buy 800,000 shares of Twitter stock, and will be eligible for a one-time stock award in the form of performance-based restricted stock units covering 400,000 shares of Twitter common stock.

Twitter on Wednesday named Google Inc.'s (GOOG, GOOGL) former chief business officer Omid Kordestani as its new executive chairman.

In the event of termination, Kordestani will receive severance that includes 100% of his annual base salary and the accelerated vesting of 100% of the shares underlying all unvested equity awards he held.