Twitter CEO Jack Dorsey forgoes compensation yet again

Sailing through tough times, Twitter's chief executive, Jack Dorsey, continued to forego direct compensation in 2016, according to a regulatory filing. Also, after serving for more than seven years, Peter Fenton, one of the Twitter's board members since 2009, is leaving the company after his term expires in May.

Fenton, a partner at venture capital firm Benchmark Capital, will not seek re-election after his term expires, Twitter said in the filing.

“Peter Fenton, whose term expires at the upcoming annual meeting of stockholders, will not stand for re-election at the mutual agreement of the Board and Mr Fenton,” the company said in the filing. “The Company and the Board are grateful to Mr Fenton for his years of service.”

Twitter CEO Jack Dorsey's 2016 total compensation, which excluded salary, bonus and stock and option awards, was $56,551 in 2016, compared with $68,506 in 2015, according to the filing.

While, Dorsey, like other Silicon Valley executives, chose not to receive a salary, Anthony Noto, who took over as chief operating officer from Adam Bain in November, received total compensation of $23.8 million in 2016, including a base salary of $496,000.

Noto was previously the CFO and was promoted to COO in November, a move that earned him an additional $12 million a year in stock, Twitter said at the time.

Adam Bain, who stepped down as COO last November, received $29.3 million in 2016. Twitter's top lawyer, Vijaya Gadde, took home a $498,000 base salary in 2016, up from $370,000 the year before. Her total compensation in 2016, including stock awards, added $9.8 million.