If Twitter Chief Executive Officer Dick Costolo’s salary of $130,250 for the year 2013 sounds ridiculously low, that’s because it is. Costolo reported a 2012 compensation of $11.5 million including base salary, stock awards, and options. His 2013 compensation included nothing but salary, in the company’s filing with the Securities and Exchange Commission on April 9.
Bloomberg reports that this is not unusual for CEOs of high-profile, lucrative technology companies, although Twitter’s lucrativeness is still under close watch by investors in its post-IPO months. Costolo’s salary has been reduced, but he still owns 8.18 million shares of Twitter, which accounts for about a 1.4 percent stake in the company. The social network’s IPO went live in November 2013, and since then, its share price has increased by 63 percent. The Wall Street Journal notes that, as of the stock’s closing price on April 9, that amount of shares is worth $347.6 million.