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Twitter proxy: Dorsey forgoes pay again; Noto sees $23.8M

Published 04/07/2017, 07:06 PM
© Reuters.  Twitter proxy: Dorsey forgoes pay again; Noto sees $23.8M
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  • Twitter's (NYSE:TWTR) proxy statement shows CEO Jack Dorsey continuing to pass up a direct salary, while now-CFO and COO Anthony Noto gets a big bump thanks to stock awards.
  • Dorsey gets no salary, bonus, options or stock awards. He receives $56,551 in "other compensation" -- namely residential security and protective detail.
  • Noto, meanwhile, saw total compensation jump from 2015's $401,281 to $23.78M -- $23.28M of that in stock awards, along with a salary of $496,154. Noto had received $72.77M in 2014, almost entirely in stock and option awards.
  • Former COO Adam Bain received $29.34M for 2016. Former Chief Technology Officer Adam Messinger got $19.66M in total comp.
  • Executive Chairman Omid Kordestani received total comp of $1.85M (all in stock awards except for a $50,000 salary), and General Counsel Vijaya Gadde received $9.85M.
  • Peter Fenton of Benchmark Capital will leave the board after the annual meeting, the filing notes.
  • And among shareholder proposals is one calling for a consultant's report on whether to sell the Twitter platform to users in a cooperative or similar structure. The company says such a report would be a misallocation of resources.


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