- JD Lasica / Flickr
Omid Kordestani, 51, left Google to join Twitter as its board member and executive chairman earlier this week, and his salary information has been made public in an SEC filing.
Kordestani, who was Google’s senior vice president and chief business operator, will be paid a base salary of $50,000 but what he lacks in base will be made up for in stock. He’ll be given a grant of 800,000 stock options which will vest over the next four years, and he’ll have the opportunity to rake in another 400,000 options if the company meets its fiscal year goals.
The exercise price on the 800,000 options is about $29.06, the day of Twitter’s closing stock price on the day Kordestani’s options were granted (October 13, 2015). So he will be heavily incentivized to help Twitter’s stock price go up, which would potentially make those shares worth millions of dollars.
Twitter isn’t going to want to change up control and fire Kordestani either – if it does, Kordestani will get 100% of his base salary, 12 months of COBRA insurance and accelerated vesting on his options. If he’s fired involuntarily for another reason, he’ll only get 6 months of insurance and 12.5% of his unvested options accelerated.
You can check out all the terms of Kordestani’s contract in the filing here.