A new message from Tesla CEO Elon Musk to Twitter staff revealed that the social media company’s employees could continue to get stock and options as part of an “ongoing compensation plan.” despite Twitter being a private company following Musk’s Twitter takeover, as per Teslarati.
Musk’s message, shared through an internal memo on Monday (November 14), noted that the platform’s stock plan would be similar to the one adopted by his employees at SpaceX, a private space company currently dominating the US launch sector. SpaceX conducts regular secondary offerings for longtime shareholders to sell equity.
CNBC viewed Musk’s memo to Twitter employees and noted that SpaceX employees are given their stock awards twice a year, on May 15 and November 15.
Twitter’s stock plan similar to SpaceX
“Even though Twitter is now a private company, we absolutely will continue to provide stock and options as part of our ongoing compensation plan. The stock plan will be much like that of SpaceX, which has been very successful. As with SpaceX, exceptional amounts of stock will be awarded for exceptional performance,” wrote Musk.
Musk’s company-wide email to Twitter employees
In a way, Musk’s message suggests that the atmosphere at the social media company could be settling down, and it somewhat reflects sentiments that he shared in a company-wide email last Friday (November 11).
In his email, Musk thanked some Twitter workers for working long hours and joining him at Twitter’s San Francisco headquarters. He even gave a quick shoutout to several remote workers, who he said have been, as of late, working extra hard.
“I was at Twitter HQ again until late into the night yesterday and would like to extend a note of appreciation to those who were there with me, as well as those working remotely, some of whom had been up even longer,” Musk wrote in the email.
Additionally, Musk told Twitter workers that “exceptional amounts” of shares will be granted for “exceptional performance.”
