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Twitter says Dorsey continues to forego direct compensation

Reuters
Jack Dorsey, then interim CEO of Twitter and CEO of Square, goes for a walk on the first day of the annual Allen and Co. media conference in Sun Valley, Idaho in this July 8, 2015 file photo. REUTERS/Mike Blake

(Reuters) - Twitter Inc Chief Executive Jack Dorsey has agreed to continue to forego any form of direct compensation, a regulatory filing by the company showed on Friday.

Dorsey in June agreed to no salary until the company's compensation committee agreed upon a package for him.

The committee decided on Wednesday to introduce a performance-based equity compensation program for Twitter's top executives to tie their performance more closely with that of the company, according to the filing.

Twitter reported its first quarter of no growth in users earlier this week, stoking fresh concerns on how long it will take for the company to reverse the trend.

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In January, four top executives left the company. Following the departures, Twitter named American Express Co executive Leslie Berland as its chief marketing officer.

Facing slowing user growth, Twitter has been experimenting under Dorsey, who became interim CEO in July and then CEO in October, with ways to make its website more engaging.

(Reporting By Lehar Maan in Bengaluru; Editing by Saumyadeb Chakrabarty)