Twitter GC is awarded $7.3m worth of shares one year post-IPO
Twitter has awarded its general counsel, Vijaya Gadde, $7.3m (£4.5m) worth of shares in the company, a year after she took the role.
September 21, 2014 at 07:22 PM
2 minute read
Twitter has awarded its general counsel Vijaya Gadde $7.3m (£4.5m) worth of shares in the company, a year after she took the role.
Gadde received 145,000 share options on 12 September, according to documents filed with the US Securities and Exchange Commission.
The award is made of restrictive stock units, meaning they are subject to a vesting plan and a distribution schedule as part of an incentive-based awards package.
This is the second share package given to Gadde since becoming GC, after 120,000 ordinary shares were awarded to her by Twitter a day before the company's initial public offering (IPO) last year.
Her current total holding of 829,229 stock is worth $42m (£25.8m) based on a current trading price of $50.88 (£31.1) per share.
Twitter's listing was one of the most anticipated IPOs of the year, with teams from Wilson Sonsini Goodrich & Rosati and Davis Polk & Wardwell acting for Twitter and the underwriters, respectively.
Gadde, formerly an associate at Wilson Sonsini Goodrich & Rosati, a long-standing adviser to the company, took on the GC role in September 2013, after becoming legal director at the company in 2011.
She replaced Alexander Macgillivray, who had been Twitter's legal chief since 2009, and was earlier this year appointed as deputy chief technology officer to the White House.
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