Twitter CEO Jack Dorsey declines salary for 2017
Jaxk Dorsey
It is the third year in a row Dorsey is turning down pay from Twitter
Twitter chief executive officer and co-founder Jack Dorsey declined all compensation for 2017 for running the micro-blogging platform.
The proxy statement released by Twitter reads, “As a testament to his commitment to and belief in Twitter’s long-term value creation potential, our CEO, Jack Dorsey, declined all compensation for 2017,” the company said in a proxy statement filed Wednesday with the SEC.
It is the third year in a row Dorsey is turning down pay from Twitter.
However, Dorsey still owns equity in the company. As of April 2, he owns 18 million shares of Twitter.
The company's stock increased by 20 per cent at the beginning of this year. The company is current total worth was recorded at $589 million at Wednesday closing price.
Jack Dorsey's also owns Square which is mobile payment company where is annual salary was $2.75 and he reportedly owns 65.5 million shares.
The company is worth about $3.1 billion currently.
The proxy statement was released on Wednesday ahead of their stakeholders meeting scheduled for May 30.
Twitter stakeholders will meet virtually through live audio broadcast. They will also to re-elect four directors to serve until 2021.