TABLE OF CONTENTS...TWITTER, INC. (Name of Registrant as Specified In Its Charter) Payment of Filing...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14APROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE

SECURITIES EXCHANGE ACT OF 1934

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TWITTER, INC. (Name of Registrant as Specified In Its Charter)

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TWITTER, INC. 1355 MARKET STREET, SUITE 900

SAN FRANCISCO, CALIFORNIA 94103

NOTICEOFANNUALMEETINGOFSTOCKHOLDERSToBeHeldat10:00a.m.PacificTimeonWednesday,May27,2020

DearStockholdersofTwitter,Inc.:

The 2020 annual meeting of stockholders (the “Annual Meeting”) of Twitter, Inc., a Delaware corporation (“Twitter”), will be held onWednesday, May 27, 2020 at 10:00 a.m. Pacific Time. The Annual Meeting will be a virtual meeting of stockholders, which will beconductedvialiveaudiowebcast.Webelievethatavirtualmeetingprovidesexpandedaccess,improvedcommunicationandcostsavingsforourstockholdersandTwitter.StockholderswillbeabletoattendandlistentotheAnnualMeetinglive,submitquestionsandvotetheirshareselectronicallyattheAnnualMeetingfromvirtuallyanylocationaroundtheworld.InordertoattendandvoteattheAnnualMeeting,pleasefollowtheinstructionsinthesectiontitled“QuestionsandAnswersAbouttheProxyMaterialsandOurAnnualMeeting—WhatdoIneedtodotoattendtheAnnualMeetingvirtually?”onpage5.

WeareholdingtheAnnualMeetingforthefollowingpurposes,asmorefullydescribedintheaccompanyingproxystatement:

1.ToelectthreeClassIdirectorstoserveuntilour2023annualmeetingofstockholdersanduntiltheirsuccessorsaredulyelectedandqualified;

2.Toapprove,onanadvisorybasis,thecompensationofournamedexecutiveofficers(“Say-on-Pay”);

3.To ratify the appointment of PricewaterhouseCoopers LLPas our independent registered public accounting firmfor our fiscal yearendingDecember31,2020;

4.ToconsiderandvoteuponastockholderproposalregardinganEEOpolicyriskreport,ifproperlypresentedattheAnnualMeeting;and

5.TotransactsuchotherbusinessasmayproperlycomebeforetheAnnualMeetingoranyadjournmentsorpostponementsthereof.

Our board of directors has fixed the close of business on April 3, 2020 as the record date (the “Record Date”) for the Annual Meeting.Stockholders of record as of the Record Date are entitled to notice of andto vote at the Annual Meeting. Further information regardingvotingrightsandthematterstobevoteduponispresentedintheaccompanyingproxystatement.

Thisproxystatementandourannualreportcanbeaccesseddirectlyatwww.proxyvote.com.Youwillbeaskedtoenterthe16-digitcontrolnumberlocatedonyourproxycard.

YOUR VOTE IS IMPORTANT. Whether or not you plan to attend the Annual Meeting, we urge you to submit your vote via theInternet, telephone or mail.

WeappreciateyourcontinuedsupportofTwitter.

ByorderoftheBoardofDirectors,

JackDorseyChiefExecutiveOfficerandDirectorSanFrancisco,CaliforniaApril15,2020

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TABLEOFCONTENTSPAGE

QUESTIONSANDANSWERSABOUTTHEPROXYMATERIALSANDOURANNUALMEETING 2

BOARDOFDIRECTORSANDCORPORATEGOVERNANCE 8

ConsiderationsinEvaluatingDirectorNominees 9

NomineesforDirector 11

ContinuingDirectors 13

DirectorIndependence 17

BoardLeadershipStructureandRoleofOurLeadIndependentDirector 18

BoardMeetingsandCommittees 18

CompensationCommitteeInterlocksandInsiderParticipation 21

StockholderRecommendationsandNominationstotheBoardofDirectors 21

CommunicationswiththeBoardofDirectors 21

CorporateGovernanceOverview 22

CorporateGovernanceGuidelinesandCodeofBusinessConductandEthics 24

RiskManagement 24

ManagementSuccessionPlanning 25

DirectorCompensation 26

PROPOSALNO.1ELECTIONOFDIRECTORS 29

Nominees 29

VoteRequired 29

PROPOSALNO.2ADVISORYVOTEONNAMEDEXECUTIVEOFFICERCOMPENSATION 30

VoteRequired 30

PROPOSALNO.3RATIFICATIONOFAPPOINTMENTOFINDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM 31

FeesPaidtotheIndependentRegisteredPublicAccountingFirm 31

AuditorIndependence 31

AuditCommitteePolicyonPre-ApprovalofAuditandPermissibleNon-AuditServicesofIndependentRegisteredPublicAccountingFirm 31

VoteRequired 31

PROPOSALNO.4STOCKHOLDERPROPOSALREGARDINGANEEOPOLICYRISKREPORT 32

ProposalandSupportingStatementbyStockholderProponent 32

TheCompany’sStatementofOpposition 32

VoteRequired 33

REPORTOFTHEAUDITCOMMITTEE 34

EXECUTIVEOFFICERS 35

TWITTER,INC./2020ProxyStatement i

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PAGE

EXECUTIVECOMPENSATION 36

CompensationDiscussionandAnalysis 36

CompensationCommitteeReport 46

CompensationTables 47

EQUITYCOMPENSATIONPLANINFORMATION 55

SECURITYOWNERSHIPOFCERTAINBENEFICIALOWNERSANDMANAGEMENT 56

RELATEDPERSONTRANSACTIONS 58

PoliciesandProceduresforRelatedPersonTransactions 58

OTHERMATTERS 59

FiscalYear2019AnnualReportandSECFilings 59

SpecialNoteRegardingForward-LookingStatements 59

ii TWITTER,INC./2020ProxyStatement

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PROXYSTATEMENTFOR2020ANNUALMEETINGOFSTOCKHOLDERS

TWITTER, INC.PROXY STATEMENT

FOR 2020 ANNUAL MEETING OF STOCKHOLDERS To Be Held at 10:00 a.m. Pacific Time on Wednesday, May 27, 2020

Thisproxystatementandtheenclosedformofproxyarefurnishedinconnectionwiththesolicitationofproxiesbyourboardofdirectorsforuseatthe2020annualmeetingofstockholdersofTwitter,Inc.,aDelawarecorporation(“Twitter”),andanypostponements,adjournmentsorcontinuationsthereof(the“AnnualMeeting”).TheAnnualMeetingwillbeheldonWednesday,May27,2020at10:00a.m.PacificTime.

TheAnnualMeetingwillbeavirtualmeetingofstockholders,whichwillbeconductedvialiveaudiowebcast.YouwillbeabletoattendandlistentotheAnnualMeetinglive,submitquestionsandvoteyourshareselectronicallyattheAnnualMeeting.InordertoattendandvoteattheAnnualMeeting,pleasefollowtheinstructionsinthesectiontitled“QuestionsandAnswersAbouttheProxyMaterialsandOurAnnualMeeting—WhatdoIneedtodotoattendtheAnnualMeetingvirtually?”onpage5.

TheNoticeofInternetAvailabilityofProxyMaterials(the“Notice”)containinginstructionsonhowtoaccessthisproxystatementandourannualreportisfirstbeingmailedonoraboutApril15,2020toallstockholdersentitledtovoteattheAnnualMeeting.

TWITTER,INC./2020ProxyStatement 1

Other than the four items of business described in this proxystatement, we are not aware of any other business to be actedupon at the Annual Meeting. You may be asked to consider anyotherbusinessthatproperlycomesbeforetheAnnualMeeting.

Whoisentitledtovote?Holders of our common stock as of the close of business onApril3,2020,thedateourboardofdirectorshassetastherecorddate (the “Record Date”), may vote at the Annual Meeting. As ofthe Record Date, there were 784,629,121 shares of our commonstockoutstanding.Indecidingallmattersatthe

Annual Meeting, each stockholder will be entitled to one vote foreachshareofourcommonstockheldbythemontheRecordDate.We do not have cumulative voting rights for the election ofdirectors.

Stockholders of Record

Ifsharesofourcommonstockareregistereddirectlyinyournamewith our transfer agent, you are considered the stockholder ofrecordwithrespect tothoseshares, andtheNoticewasprovidedto you directly by us. As the stockholder of record, you have theright to grant your voting proxy and indicate your voting choicesdirectlytotheindividualslistedon

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QUESTIONSANDANSWERSABOUTTHEPROXYMATERIALSANDOURANNUALMEETING

The information provided in the “question and answer” format below is for your convenience only and is merely a summary of theinformationcontainedinthisproxystatement.Youshouldreadthisentireproxystatementcarefully.Informationcontainedon,orthatcanbeaccessedthrough,ourwebsiteisnotintendedtobeincorporatedbyreferenceintothisproxystatementandreferencestoourwebsiteaddressinthisproxystatementareinactivetextualreferencesonly.

WhyareyouholdingavirtualAnnualMeeting?OurAnnualMeetingwillbeconductedvialiveaudiowebcastandonlinestockholdertools.Wehaveimplementedthevirtualformatinordertofacilitatestockholderattendanceandparticipationbyenablingstockholderstoparticipatefully,andequally,fromanylocationaroundtheworld, at no cost. However, you will bear any costs associated with your Internet access, such as usage charges fromInternet accessproviders and telephone companies. We believe this is the right choice for a company with a global footprint. A virtual Annual Meetingmakes it possible for more stockholders (regardless of size, resources or physical location) to have direct access to information morequickly,whilesavingthecompanyandourstockholderstimeandmoney,especiallyasphysicalattendanceatmeetingshasdwindled.Wealsobelievethattheonlinetoolswehaveselectedwillincreasestockholdercommunication.OurvirtualmeetingthisyearalsoprotectsthesafetyofeveryoneinlightoftheCOVID-19outbreak,andtakesintoaccountrecentfederal,stateandlocalguidancethathasbeenissued.Weremainverysensitivetoconcernsthatvirtualmeetingsmaydiminishstockholdervoiceorreduceaccountability.Accordingly,wehavedesignedourvirtualformattoenhance,ratherthanconstrain,stockholderaccess,participationandcommunication.Forexample,thevirtualformatallowsstockholderstocommunicatewithusinadvanceof,andduring,theAnnualMeetingsotheycanaskquestionsofourboardofdirectorsormanagement.Wedonotplacerestrictionsonthetypeorformofquestionsthatmaybeasked;however,wereservetherighttoedit profanity or other inappropriate language for publication. Just like we did when we held in-person meetings, during the live Q&AsessionoftheAnnualMeeting,weanswerquestionsastheycomeinandaddressthoseaskedinadvance,astimepermits.Areplayandawrittentranscriptofthemeetingwillbemadepubliclyavailableonourinvestorrelationssite.

WhatmattersamIvotingonandhowdoestheboardofdirectorsrecommendthatIvote?

PROPOSAL

TWITTER BOARD OF DIRECTORS

VOTING RECOMMENDATION

PAGE REFERENCE (FOR MORE

DETAIL)

(ProposalNo.1)TheelectionofthreeClassIdirectorstoserveuntilour2023annualmeetingofstockholdersanduntiltheirsuccessorsaredulyelectedandqualified. FOReachnominee 29

(ProposalNo.2)Theapproval,onanadvisorybasis,ofthecompensationofournamedexecutiveofficers(“Say-on-Pay”). FOR 30

(ProposalNo.3)RatificationoftheappointmentofPricewaterhouseCoopersLLPasourindependentregisteredpublicaccountingfirmforourfiscalyearendingDecember31,2020. FOR 31

(ProposalNo.4)AstockholderproposalregardinganEEOpolicyriskreport,ifproperlypresentedattheAnnualMeeting. AGAINST 32

2 TWITTER,INC./2020ProxyStatement

the proxy card or to vote virtually at the Annual Meeting.Throughout this proxy statement, we refer to these registeredstockholdersas“stockholdersofrecord.”

Street Name Stockholders

If shares of our common stock are held on your behalf in abrokerage account or by a bank or other nominee, you areconsidered to be the beneficial owner of shares that are held in“streetname,”andtheNoticewasforwardedtoyoubyyourbroker,bankorothernominee.Asthebeneficialowner,youhavetherighttodirectyourbroker,bankorothernomineeastohowtovoteyourshares in the manner provided in the voting instructions youreceivefromyourbroker,bankorothernominee.If yourequestaprinted copy of our proxy materials by mail, your broker, bank orothernomineewillprovideavotinginstructionformforyoutouse.Streetnamestockholdersare

also invited to attend the Annual Meeting. However, because astreetnamestockholderisnotthestockholderofrecord,youmaynot vote your shares of our commonstock virtually at the AnnualMeeting unless you follow your broker, bank or other nominee’sprocedures for obtaining a legal proxy. Throughout this proxystatement,werefertostockholderswhoholdtheirsharesthroughabroker,bankorothernomineeas“streetnamestockholders.”

Both stockholders of record and street namestockholders will beable to attend the Annual Meeting via live audio webcast, submittheir questions during the meeting and vote their shareselectronicallyattheAnnualMeeting.Formoreinformationonhowto attend the Annual Meeting, please see the section titled“Questions and Answers About the Proxy Materials and OurAnnual Meeting—What do I need to do to attend the AnnualMeetingvirtually?”onpage5.

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Howmanyvotesareneededforapprovalofeachproposal?

PROPOSALVOTE NEEDED FOR APPROVAL AND EFFECT OF

ABSTENTIONS AND BROKER NON-VOTES

(Proposal No. 1) The election of three Class I directors to serveuntil our 2023 annual meeting of stockholders and until theirsuccessorsaredulyelectedandqualified.

Our amended and restated bylaws (the “Bylaws”) provide formajorityvotingandourCorporateGovernanceGuidelinessetforththe related director resignation policy for our director nominees.Our Bylawsstate that to beelected in an uncontested election, anomineemust receiveamajority of thevotescast withrespect tosuch nominee (i.e., the number of shares voted “For” a nomineemust exceed the number of shares voted “Against” for thatnominee). Abstentions will have no effect on the outcome of this proposal.Broker non-votes will have no effect on the outcome of thisproposal. Under our Corporate Governance Guidelines, each nomineesubmits,inadvanceoftheirnomination,anirrevocableresignationthat will become effective if (i) the nominee fails to receive therequiredvoteattheAnnualMeetingand(ii)theboardofdirectorsacceptstheresignation.Thenominatingandcorporategovernancecommitteepromptlyconsiderswhethertoaccepttheresignationofanynomineewhofailstoreceivetherequirednumberofvotesforelection and submits such recommendation for consideration bytheboardof directors. In decidingwhether to accept or reject theresignation, the nominating and corporate governance committeeand the board of directors will consider any factors they deemrelevant.AnynomineewhotendershisorherresignationpursuanttoourCorporateGovernanceGuidelinesmaynotparticipateinthenominatingandcorporategovernancecommitteerecommendationor board of directors action regarding whether to accept theresignationoffer.


Whatisaquorum?Aquorumistheminimumnumberofsharesrequiredtobepresentat the Annual Meeting to properly hold an annual meeting andconduct business under our Bylaws and Delaware law. Thepresence, virtually or by proxy, of a majority of all issued andoutstanding shares of our common stock entitled to vote at theAnnual Meeting will constitute a quorum at the Annual Meeting.Abstentions, against votes and broker non-votes are counted assharespresent andentitled to vote for purposesof determiningaquorum.

HowdoIvote?Ifyouareastockholderofrecord,therearefourwaystovote:

• By Internet at www.proxyvote.com, 24 hours a day, sevendaysaweek,until11:59p.m.EasternTimeonMay26,2020(have your Notice or proxy card in hand when you visit thewebsite);

• Bytoll-freetelephoneat1-800-690-6903(haveyourNoticeorproxycardinhandwhenyoucall);

• By completing and mailing your proxy card (if you receivedprinted proxy materials) to be received prior to the AnnualMeeting;or

• By attending the virtual meeting by visitingwww.virtualshareholdermeeting.com/TWTR2020, where youmay vote and submit questions during the Annual Meeting.PleasehaveyourNoticeorproxycardinhandwhenyouvisitthewebsite.Formoreinformationonhowtoattendandvoteat the Annual Meeting, please see the section titled“QuestionsandAnswersAbout theProxyMaterialsandOurAnnualMeeting—WhatdoI needtodo toattendtheAnnualMeetingvirtually?”onpage5.

If you are a street name stockholder, you will receive votinginstructions from your broker, bank or other nominee. You mustfollowthevotinginstructionsprovidedbyyourbroker,bankorothernomineeinordertodirect yourbroker, bankorother nomineeonhowto vote your shares. As discussedabove, if youare a streetnamestockholder,youmaynotvoteyoursharesliveatthevirtualAnnualMeetingunlessyouobtainalegalproxyfromyourbroker,bankorothernominee.

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PROPOSALVOTE NEEDED FOR APPROVAL AND EFFECT OF

ABSTENTIONS AND BROKER NON-VOTES

(ProposalNo.2)Theapproval, onanadvisorybasis,oftheSay-on-Pay.

The affirmative vote of a majority of the shares of our commonstock present virtually or by proxy at the Annual Meeting andentitledtovotethereon Abstentions are considered votes present and entitled to vote onthis proposal, and thus, will have the same effect as a vote“Against”theproposal.Brokernon-voteswillhavenoeffectontheoutcomeofthisproposal. Because this proposal is an advisory vote, the result will not bebinding on our board of directors or our company. Our board ofdirectors and our compensation committee will consider theoutcomeofthevotewhendeterminingcompensationdecisionsforournamedexecutiveofficers.

(Proposal No. 3) Ratification of the appointment ofPricewaterhouseCoopers LLP as our independent registeredpublic accounting firm for our fiscal year ending December 31,2020.

The affirmative vote of a majority of the shares of our commonstock present virtually or by proxy at the Annual Meeting andentitledtovotethereon. Abstentions are considered votes present and entitled to vote onthis proposal, and thus, will have the same effect as a vote“Against”theproposal.Brokernon-voteswillhavenoeffectontheoutcomeofthisproposal.

(ProposalNo.4)AstockholderproposalregardinganEEOpolicyriskreport,ifproperlypresentedattheAnnualMeeting.

The affirmative vote of a majority of the shares of our commonstock present virtually or by proxy at the Annual Meeting andentitledtovotethereon. Abstentions are considered votes present and entitled to vote onthis proposal, and thus, will have the same effect as a vote“Against”theproposal.Brokernon-voteswillhavenoeffectontheoutcomeofthisproposal.


WhatdoIneedtodotoattendtheAnnualMeetingvirtually?Both stockholders of record and street namestockholders will beable to attend the Annual Meeting via live audio webcast, submittheir questions during the meeting and vote their shareselectronically at the Annual Meeting by visitingwww.virtualshareholdermeeting.com/TWTR2020. To participate intheAnnualMeeting,youwill needthecontrolnumberincludedonyourNoticeorproxycard.

TheAnnualMeetingliveaudiowebcastwillbeginpromptlyat10:00a.m. Pacific Time on Wednesday, May 27, 2020. We encourageyouto access the meeting prior to the start time. Online check-inwill begin at 9:45 a.m. Pacific Time, and you should allow ampletimeforthecheck-inprocedures.

WhatifIhavetechnicaldifficultiesduringthecheck-intimeorduringtheAnnualMeeting?If you encounter any difficulties accessing the virtual meetingduring the check-in or meeting time, please call the technicalsupport number that will be posted on the login page atwww.virtualshareholdermeeting.com/TWTR2020. Please be suretocheckinby9:45a.m.PacificTimeonMay27,2020,thedayofthe Annual Meeting, so we may address any technical difficultiesbeforetheAnnualMeetingliveaudiowebcastbegins.

CanIchangemyvote?Yes.Ifyouareastockholderofrecord,youcanchangeyourvoteorrevokeyourproxyanytimebeforetheAnnualMeetingby:

• enteringanewvotebyInternetorbytelephone;

• completingandreturningalater-datedproxycard;

• notifying the Secretary of Twitter, Inc., in writing, at Twitter,Inc.,1355MarketStreet,Suite900,SanFrancisco,California94103;or

• attending and voting at the Annual Meeting (althoughattendanceattheAnnualMeetingwillnot,byitself,revokeaproxy).

If you are a street name stockholder, your broker, bank or othernomineecanprovideyouwithinstructionsonhowtochangeyourvote.

Whatistheeffectofgivingaproxy?Proxies are solicited by and on behalf of our board of directors.Jack Dorsey (our Chief Executive Officer), Ned Segal (our ChiefFinancial Officer) and Sean Edgett (our General Counsel) havebeendesignatedasproxyholdersbyourboardofdirectors.Whenproxies are properly dated, executed and returned, the sharesrepresentedbysuchproxieswillbevotedattheAnnual

Meetinginaccordancewiththeinstructionsofthestockholder.Ifnospecificinstructionsaregiven,however,theshareswillbevotedinaccordancewiththerecommendationsofourboardofdirectorsasdescribed above. If any matters not described in this proxystatementareproperlypresentedattheAnnualMeeting,theproxyholders will use their ownjudgment to determine howto vote theshares.If theAnnualMeetingisadjourned,theproxyholderscanvote the shares on the new Annual Meeting date as well, unlessyou have properly revoked your proxy instructions, as describedabove.

WhydidIreceiveaNoticeofInternetAvailabilityofProxyMaterialsinsteadofafullsetofproxymaterials?In accordance with the rules of the Securities and ExchangeCommission (“SEC”), we have elected to furnish our proxymaterials, including this proxy statement and our annual report,primarilyviatheInternet.TheNoticecontaininginstructionsonhowto access our proxy materials is first being mailed on or aboutApril 15, 2020 to all stockholders entitled to vote at the AnnualMeeting.

Stockholders may request to receive all future proxy materials inprinted form by mail or electronically by email by following theinstructionscontainedintheNotice.Weencouragestockholderstotake advantage of the availability of our proxy materials on theInternet tohelpreducetheenvironmental impactandthecostsofourannualmeetingsofstockholders.

HowareproxiessolicitedfortheAnnualMeeting?Our board of directors is soliciting proxies for use at the AnnualMeeting.Allexpensesassociatedwiththissolicitationwillbeborneby us. We will reimburse brokers, banks and other nominees forreasonableexpensesthattheyincurinsendingourproxymaterialsto you if a broker, bank or other nominee holds shares of ourcommon stock on your behalf. In addition, our directors andemployeesmayalsosolicit proxiesinperson,bytelephone,orbyother means of communication. Our directors and employees willnotbepaidanyadditionalcompensationforsolicitingproxies.

HowmaymybrokeragefirmorotherintermediaryvotemysharesifIfailtoprovidetimelydirections?Brokerage firms and other intermediaries holding shares of ourcommon stock in street name for their customers are generallyrequired to vote such shares in the manner directed by theircustomers.Intheabsenceoftimelydirections,yourbroker,bankorothernomineewillhavediscretiontovoteyoursharesonoursole“routine” matter: the proposal to ratify the appointment ofPricewaterhouseCoopersLLPasourindependentregisteredpublicaccountingfirm.Yourbroker,

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bank or other nominee will not have discretion to vote on theelection of directors, the advisory vote on Say-on-Pay or thestockholder proposal, which are “non-routine” matters, absentdirectionfromyou.

WherecanIfindthevotingresultsoftheAnnualMeeting?WewillannouncepreliminaryvotingresultsattheAnnualMeeting.WewillalsodisclosevotingresultsonaCurrentReportonForm8-KthatwewillfilewiththeSECwithinfourbusinessdaysaftertheAnnualMeeting.IffinalvotingresultsarenotavailabletousintimetofileaCurrentReportonForm8-Kwithinfourbusinessdaysafterthe Annual Meeting, we will file a Current Report on Form8-K topublish preliminary results and will provide the final results in anamendment to the Current Report on Form 8-K as soon as theybecomeavailable.

Ishareanaddresswithanotherstockholder,andwereceivedonlyonepapercopyoftheproxymaterials.HowmayIobtainanadditionalcopyoftheproxymaterials?We have adopted an SEC approved procedure called“householding.” Under this procedure, wedeliver a single copyofthe Notice and, if applicable, our proxy materials to multiplestockholders who share the same address unless we havereceived contrary instructions from one or more of suchstockholders. This procedure reduces our printing costs, mailingcosts, andfees.Stockholderswhoparticipateinhouseholdingwillcontinue to be able to access and receive separate proxy cards.Upon written or oral request, we will deliver promptly a separatecopy of the Notice and, if applicable, our proxy materials to anystockholder at a shared address to which we delivered a singlecopyofanyofthesematerials.Toreceiveaseparatecopy,or,ifastockholder is receiving multiple copies, to request that we onlysend a single copy of the Notice and, if applicable, our proxymaterials,suchstockholdermaycontactusasfollows:

Twitter,Inc.Attention:InvestorRelations1355MarketStreet,Suite900SanFrancisco,California94103

Tel:(415)222-9670

Street namestockholders maycontact their broker, bankor othernomineetorequestinformationabouthouseholding.

Whatisthedeadlinetoproposeactionsforconsiderationatnextyear’sannualmeetingofstockholdersortonominateindividualstoserveasdirectors?

Stockholder Proposals

Stockholders may present proper proposals for inclusion in ourproxy statement and for consideration at next year’s annualmeetingofstockholdersbysubmittingtheir proposalsinwritingtoourSecretaryinatimelymanner.Forastockholderproposaltobeconsideredforinclusioninourproxystatementforour2021annualmeeting of stockholders, our Secretary must receive the writtenproposal at our principal executive offices not later thanDecember 16, 2020. In addition, stockholder proposals mustcomplywiththerequirementsofRule14a-8regardingtheinclusionof stockholder proposals in company-sponsored proxy materials.Stockholderproposalsshouldbeaddressedto:

Twitter,Inc.Attention:Secretary

1355MarketStreet,Suite900SanFrancisco,California94103

Our Bylaws also establish an advance notice procedure forstockholders who wish to present a proposal before an annualmeeting of stockholders but do not intend for the proposal to beincludedinourproxystatement. OurBylawsprovidethattheonlybusiness that may be conducted at an annual meeting ofstockholdersisbusinessthatis(i)specifiedinourproxymaterialswithrespecttosuchmeeting,(ii)otherwiseproperlybroughtbeforesuch meeting by or at the direction of our board of directors, or(iii) properly brought before such meeting by a stockholder ofrecord entitled to vote at the annual meeting who has deliveredtimely written notice to our Secretary, which notice must containtheinformationspecifiedinourBylaws.Tobetimelyforour2021annual meeting of stockholders, our Secretary must receive thewrittennoticeatourprincipalexecutiveoffices:

• notearlierthanJanuary30,2021;and

• notlaterthanMarch1,2021.

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Intheeventthatweholdour2021annualmeetingofstockholdersmorethan30daysbeforeormorethan60daysaftertheone-yearanniversary of the Annual Meeting, notice of a stockholderproposalthatisnotintendedtobeincludedinourproxystatementmustbereceivednoearlierthanthecloseofbusinessonthe120thdaybefore our 2021annual meetingof stockholders andnolaterthanthecloseofbusinessonthelaterofthefollowingtwodates:

• the 90th day prior to our 2021 annual meeting ofstockholders;or

• the10thdayfollowingthedayonwhichpublicannouncementof the date of 2021 annual meeting of stockholders is firstmade.

If a stockholder who has notified us of his, her or its intention topresent a proposal at an annual meeting does not appear topresenthis,heroritsproposalatsuchannualmeeting,wearenotrequiredtopresenttheproposalforavoteatsuchannualmeeting.

Recommendation or Nomination of Director Candidates

Youmayrecommenddirector candidatesfor considerationbyournominatingandcorporategovernancecommitteeif youhaveheldonepercent(1%)ofthefullydilutedcapitalizationofthecompanyforatleasttwelve(12)monthspriortothedateofthesubmissionof therecommendation. Anysuchrecommendationsmust complywithouramendedand

restated certificate of incorporation, Bylaws and applicable laws,rules and regulations, should include the nominee’s name andqualificationsformembershiponourboardofdirectors,andshouldbe directed to our Secretary at the address set forth above. Foradditional information regarding stockholder recommendations fordirector candidates, seethesection titled “Board of Directors andCorporate Governance—Stockholder Recommendations andNominationstotheBoardofDirectors.”

In addition, our Bylaws permit stockholders to nominate directorsfor election at an annual meeting of stockholders. To nominate adirector, the stockholder must provide the information required byourBylaws.Inaddition,thestockholdermustgivetimelynoticetoour Secretary in accordance with our Bylaws, which, in general,requirethatthenoticebereceivedbyourSecretarywithinthetimeperiods described above under “Stockholder Proposals” forstockholder proposals that are not intended to be included in aproxystatement.

Availability of Bylaws

A copy of our Bylaws is available on our website athttps://investor.twitterinc.com.YoumayalsocontactourSecretaryat the address set forth above for a copy of the relevant Bylawprovisions regarding the requirements for making stockholderproposalsandnominatingdirectorcandidates.

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BOARDOFDIRECTORSANDCORPORATEGOVERNANCE

Ourbusinessaffairs aremanagedunder thedirection of our boardof directors, whichis currently composedof tenmembers. All of ourdirectors, other than Mr. Dorsey, our Chief Executive Officer, and Mr. Kordestani, our Executive Chairman, are independent within themeaning of the listing standards of the NewYork Stock Exchange (the “NYSE”). Our board of directors is divided into three classes ofdirectors,eachservingastaggeredthree-yearterm.Ateachannualmeetingofstockholders,aclassofdirectorsiselectedforathree-yeartermtosucceedtheclasswhosetermisthenexpiring.

Thefollowingtablesetsforththenames,agesasofMarch31,2020,andcertainotherinformationforeachofthemembersofourboardofdirectorswithtermsexpiringattheAnnualMeeting(whoarealsonomineesforelectionasadirectorattheAnnualMeeting)andforeachofthe continuing members of our board of directors. Evan Williams stepped down as a member of our board of directors effectiveFebruary 28, 2019, and Debra Lee stepped down as a member of our board of directors effective August 31, 2019. Full biographicalinformationisbelow.

CLASS AGE POSITIONDIRECTOR

SINCE

CURRENTTERM

EXPIRES

EXPIRATION OF TERM

FOR WHICH NOMINATED INDEPENDENT

AUDIT COMMITTEE

COMP. COMMITTEE

NOMINATING AND

CORPORATE GOVERNANCE

COMMITTEE

Directors with Terms expiring at the Annual Meeting/Nominees

OmidR.Kordestani I 56 ExecutiveChairman

2015 2020 2023

NgoziOkonjo-Iweala I 65 Director 2018 2020 2023 X

BretTaylor I 39 Director 2016 2020 2023 X

Continuing Directors

JesseCohn(1) II 39 Director 2020 2021 — X

JackDorsey III 43 ChiefExecutiveOfficerandDirector

2007 2022 —

EgonDurban(2) III 46 Director 2020 2022 — X

MarthaLaneFox II 46 Director 2016 2021 — X

PatrickPichette III 57 LeadIndependentDirector

2017 2022 — X

DavidRosenblatt II 52 Director 2010 2021 — X

RobertZoellick(3) III 66 Director 2018 2022 — X

Mr.CohnjoinedtheboardofdirectorsonApril7,2020.Mr.DurbanjoinedtheboardofdirectorsonMarch12,2020.Mr.ZoellickjoinedtheauditcommitteeeffectiveJanuary1,2020.

Legend: Chair| Member| Auditcommitteefinancialexpert


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BoardofDirectorsExperience

✓ FinanceandAccounting

✓ TechnologyIndustry

✓ DigitalandSocialMedia

✓ OperationofGlobalOrganizations

✓ MergersandAcquisitions

✓ RiskManagement

✓ ComputerScience

✓ Cybersecurity/CyberRisk

✓ Regulatory

✓ DataPrivacy

✓ InformationQuality

✓ MachineLearning

✓ StrategicTransformation

✓ InternationalTax

✓ IntellectualProperty

✓ ExecutiveLeadershipandTalentDevelopment

✓ CustomerPerspective

✓ CompanySeniorLeadership

✓ PublicCompanyBoardMembership

✓ PublicPolicy

✓ BrandMarketing

ConsiderationsinEvaluatingDirectorNomineesOur board of directors follow an annual director nomination process that promotes thoughtful and in-depth review of our board andcommitteecompositionaswellaseachindividualdirectorthroughouttheyear.Eachyear,atthebeginningoftheprocess,thenominatingandcorporategovernancecommitteereviewscurrentboardandcommitteecompositionincontextwiththecompany’sstrategytoconfirmthatthetraits,attributesandqualificationsarealignedwithourlong-termstrategyandcontinuetopromoteeffectiveboardandcommitteeperformance.Theoutcomeoftheannualevaluationsisusedtoinformdirectorsearchprioritiesasapplicable.Eachyear,thenominatingandcorporategovernancecommitteereviewsincumbentdirectornominees,evaluatesanychangesincircumstancesthatmayimpacttheircandidacy, and considers information from the board evaluation process. The nominating and corporate governance committee alsoidentifiespotentialnewdirectornominees,fromtimetotimeusingasearchfirmthatispaidafeeforitsservices,togetherwithreferralsandsuggestions from board members and stockholders. The nominating and corporate governance committee interviews potential directornominees to explore their qualifications, as applicable (including, without limitation, issues of character, ethics, integrity, judgment,professional experience, independence, areaof expertise, strategic vision, length of service, potential conflicts of interest, management,accountingandfinanceexpertise,cybersecurity/cyberriskexpertise,machinelearning,riskmanagement,talentdevelopmentandothercommitments), interest and availability for board service. Our board believes that our board of directors should be a diverse body. OurCorporateGovernanceGuidelinesrequireournominatingandcorporategovernancecommitteetoconsiderabroadrangeofbackgrounds,experiencesanddiversity(inallaspectsofthatword).Ourannualdirectornominationprocessisillustratedbelow.


Nomineesmustalsohavetheabilitytoofferadviceandguidanceto our management basedon past experience in positions with ahigh degree of responsibility and be leaders in the companies orinstitutions with which they are affiliated. Nominees mustunderstand the fiduciary responsibilities that are required ofdirectorsandhavesufficient timeavailableinthejudgment of ournominating and corporate governance committee to perform allboard of director and applicable committee responsibilities.Members of our board of directors are expected to prepare for,attend, and participate in all board of director and applicablecommitteemeetings.

Otherthantheforegoing, therearenostatedminimumcriteriafordirector nominees, although our nominating and corporategovernancecommittee mayalsoconsider suchother factors as itmaydeem,fromtimetotime,areinourandourstockholders’bestinterests. Upon a recommendation from the nominating andcorporate governancecommittee, theboardof directors approvesthenominationofdirector

nominees for election at the annual meeting of stockholders. Aspreviously disclosed, our board of directors is engaged in aprocess of identifying a new independent director, focusing oncandidateswhoreflectthediversityoftheTwitterservice,whoalsopossessdeeptechnologyandAIexpertise.

Theexperiences, qualificationsandskillsofeachofthemembersofourboardofdirectorswithtermsexpiringattheAnnualMeeting(who are also nominees for election as a director at the AnnualMeeting) andfor eachof thecontinuing membersof our boardofdirectorsthattheboardofdirectorsconsideredinthenominationofsuch director are included below the directors’ individualbiographies on the following pages. The board of directorsconcludedthateachnomineeshouldserveasadirectorbasedonthe specific experience and attributes listed below and the directpersonal knowledge of each nominee’s previous service on theboardofdirectors,includingtheinsighteachnomineebringstotheboardofdirectors’functionsanddeliberations.

All directors who join our board are required to participate in a“bootcamp”eventfollowingtheirappointment,typicallybeforetheirfirst board of directors meeting, which is a robust programdesignedtoprovidedirectorswithaccesstoavarietyofinformationand resources on key issues affecting our business. Newlyappointeddirectorsmeetwithmembersofseniormanagementandselectmembersoftheboardofdirectorsinordertounderstandthebusinessandoperationsof

the company, and are given an overview of, among other things,our key priorities and strategies, products, teams, financials, andkeycorporategovernanceandlegalmatters.Ourbootcampeventis designed to bring our newly appointed directors up to speedquicklyonimportantdevelopmentsandissuesinthecontextofourbusinessandhelpthem“hitthegroundrunning”withtheirboardofdirectorandcommitteedutiesandresponsibilities.

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DirectorOrientationandEducation


OMID R. KORDESTANI ExecutiveChairmanofTwitter,Inc.Directorsince2015Age56 Committees:None

Omid R. Kordestani hasservedastheExecutiveChairmanofourboard of directors since October 2015. From August 2014 toAugust2015,Mr.KordestaniservedasSeniorVicePresidentandChiefBusinessOfficeratGoogleInc.,aninternetsearchcompany(“Google”).FromMay1999toApril2009,Mr.KordestaniservedasSeniorVicePresidentofGlobalSalesandBusinessDevelopmentat Google. From 1995 to 1999, Mr. Kordestani served as VicePresidentofBusinessDevelopmentatNetscapeCommunicationsCorporation. Prior to joining Netscape CommunicationsCorporation, Mr. Kordestani held positions in businessdevelopment, product management and marketing at The 3DOCompany, Go Corporation and Hewlett-Packard Company.Mr. Kordestani holds a B.S. in Electrical Engineering from SanJoseStateUniversityandanM.B.A.fromStanfordUniversity.

Skills and Expertise:

✓ Global business leadership, operational and organizationalexperience, corporate strategy experience and managementexperience as former Senior Vice President and ChiefBusinessOfficerofGoogle.

✓ First-hand experience in successfully leading and managinglarge, complex global sales, support and serviceorganizationsinthetechnologyindustry.

Other Public Company Board Service:None

NGOZI OKONJO-IWEALA SeniorAdvisortoLazard,Ltd.Directorsince2018Age65Committees:AuditCommittee

Ngozi Okonjo-Iweala has served as a member of our board ofdirectors since July 2018. Since September 2015, Dr. Okonjo-Iweala has served as a Senior Advisor to Lazard, Ltd., a globalfinancial advisory and asset management firm. Prior to joiningLazard, Dr. Okonjo-Iweala served as the Minister of Finance ofNigeria from July 2003 until June 2006 and as the Minister ofFinanceandCoordinatingMinisterfortheEconomyofNigeriafromAugust2011until May2015.From1982until2003andthenfromDecember 2007 until August 2011, she held several positions atthe World Bank, most recently as Managing Director fromDecember 2007 until August 2011. Dr. Okonjo-Iweala holds anA.B.fromHarvardUniversityandaPh.D.fromtheMassachusettsInstituteofTechnology.


✓ Over 30 years of experience in international finance anddevelopment.

✓ Finance and accounting experience as a Senior Advisor toLazardLtd.

✓ GovernmentexperienceastheformerMinisterofFinanceofNigeria.

✓ Global business leadership and operational experience as aformerManagingDirectorattheWorldBank.

Other Public Company Board Service: Standard Chartered plc, amultinational banking and financial services company (November2017–Present)

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Nominees for Director


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BRET TAYLOR PresidentandChiefOperatingOfficerofsalesforce.com,inc.Directorsince2016Age39Committees:CompensationCommittee

Bret TaylorhasservedasamemberofourboardofdirectorssinceJuly 2016. Since December 2019, Mr. Taylor has served as thePresident and Chief Operating Officer of salesforce.com, inc., acustomer relationship management company (“Salesforce”). Priortoassumingthisrole,Mr.TaylorwasPresidentandChiefProductOfficersinceNovember2017.FromSeptember2012toNovember2017, Mr. Taylor served as the Chief Executive Officer and co-founderofQuip,Inc.,aproductivitysoftwarecompany(acquiredbySalesforce).FromAugust2009toJuly2012,Mr.TaylorservedasChiefTechnologyOfficerofFacebook,Inc.FromOctober2007toAugust 2009, Mr. Taylor served as the Chief Executive Officer ofFriendFeed,Inc.,asocialnetwork.FromJune2007toSeptember2007, Mr. Taylor served as an entrepreneur-in-residence atBenchmark, a venture capital firm, where he co-foundedFriendFeed, Inc. Prior to June 2007,Mr. Taylor servedas GroupProduct Manager at Google, where he co-created Google MapsandtheGoogleMapsAPI.Mr.TaylorholdsaB.S.andaMaster’sDegreeinComputerSciencefromStanfordUniversity.


✓ Global business leadership, operational experience, andexperience developing technology as President and ChiefOperating Officer, and former Chief Product Officer, ofSalesforce.

✓ In-depthknowledgeofthetechnologysector.✓ Extensive knowledge of our technologies and product

offerings.✓ Offers us a unique perspective with respect to building and

managingaglobalbrandinrapidly-changingindustries.✓ Outside board experience as a director of a large, complex

globalpubliccompany.

Other Public Company Board Service: AxonEnterprise, Inc.(f/k/aTASER International, Inc.), a protection technologies company(June2014–June2019)


JESSE COHN EquityPartner,SeniorPortfolioManager,HeadofU.S.EquityActivismandmemberofManagementCommitteeatElliottManagementCorporationDirectorsince2020Age39Committees:None

Jesse Cohn has served as a member of our board of directorssinceApril2020. Mr. Cohncurrently servesasanEquity Partner,SeniorPortfolioManager, theHeadofU.S.EquityActivismandamember of the Management Committee at Elliott ManagementCorporation, an investment firm, which he joined in 2004.Previously Mr. Cohn was an Analyst in the mergers andacquisitions group at Morgan Stanley, a multinational investmentbank and financial services company. Mr. Cohn has served as adirector of several public companies, as described below, andseveralprivatecompanies,including,amongothers,Athenahealth,Inc., a leading provider of cloud-based software and services forhealthcare providers (since February 2019), Gigamon Inc., aproviderofnetworkvisibilityandanalytics(sinceDecember2017),and Quest Software Inc., a software company (since October2016). Mr. Cohn holds B.S. in Economics from the University ofPennsylvania’s Wharton School of Business, from which hegraduatedsummacumlaude.

Skills and Expertise:✓ In-depthknowledgeofthetechnologysector.✓ Financeandcorporategovernanceexpertise.✓ Outside board experience as a director of several large,

complex global public companies, as well as several privatecompanies.

Other Public Company Board Service: eBay Inc., a global e-commercecompany(March2019–Present);CitrixSystems,Inc.,an enterprise software company (July 2015 – Present); andLogMeIn,Inc.,aproviderofsoftwareasaserviceandcloud-basedremoteconnectivityservicesforcollaboration,ITmanagementandcustomerengagement(January2017–May2018)

JACK DORSEY Co-FounderandChiefExecutiveOfficerofTwitter,Inc.andSquare,Inc.Directorsince2007Age43Committees:None

Jack Dorsey is one of our founders and has served as our ChiefExecutiveOfficer sinceSeptember2015andasamemberofourboard of directors since May 2007. Mr. Dorsey served as ourinterimChiefExecutiveOfficerfromJuly2015toSeptember2015andasourPresidentandChiefExecutiveOfficerfromMay2007toOctober2008.Mr.DorseyservedastheChairpersonofourboardofdirectorsfromOctober2008toSeptember2015.SinceFebruary2009,Mr.DorseyhasservedasCo-FounderandChiefExecutiveOfficerofSquare,Inc.,aproviderofpaymentprocessingservices(“Square”).

Skills and Expertise:✓ Global business leadership, operational experience, and

experience developing technology as co-founder and ChiefExecutiveOfficerofTwitterandSquare.

✓ In-depthknowledgeofthetechnologysectorandexperienceindevelopingtransformativebusinessmodels.

✓ Unmatchedfamiliaritywithandknowledgeofourtechnologiesandproductofferings.

✓ Offers us a unique perspective with respect to building andmanagingaglobalbrandinrapidly-changingindustries.

✓ Outside board experience as a director of large, complexglobalpubliccompanies.

Other Public Company Board Service:TheWaltDisneyCompany,a multinational media and entertainment company (December2013–March2018)andSquare(February2009–Present)

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Continuing Directors


EGON DURBAN Co-CEOofSilverLakeDirectorsince2020Age46Committees: None

Egon Durban has served as a member of our board of directorssinceMarch2020.Mr.DurbanisCo-CEOofSilverLake,aglobalprivateinvestmentfirm.Mr.DurbanjoinedSilverLakein1999asafoundingprincipal. HeisalsoChairmanof theBoardofEndeavorand serves on the boards of directors of City Football Group,Learfield IMG College, UFC, Unity Technologies, Verily LifeSciences LLC, Waymo LLCand several public companies, asdescribed below. Previously, Mr. Durban served on the board ofdirectors and was the Chairman of the operating committee ofSkype, servedonthesupervisory boardandoperatingcommitteeof NXP, and served on the board of directors of MultiPlan.Mr.DurbancurrentlyservesontheBusinessCouncilandBusinessRoundtable. Prior to Silver Lake, Mr. Durban worked in MorganStanley’sinvestmentbankingdivision.Mr.DurbanholdsaB.S.B.A.inFinancefromGeorgetownUniversity.

Skills and Expertise:✓ In-depthknowledgeofthetechnologysector.✓ Financeandaccountingexpertise.✓ Outside board experience as a director of several large,

complex global public companies, as well as several privatecompanies.

Other Public Company Board Service: VMware, Inc., a softwarecompany (September 2016 – Present); SecureWorks Corp., aprovider of information security solutions (December 2015 –Present);MotorolaSolutions,Inc.,atelecommunicationscompany(August 2015 – Present); Dell Technologies, Inc., a provider ofinformation technology products and services (October 2013 −Present), Pivotal Software, Inc., a software company(September2016 − December 2019), Intelsat S.A., a telecommunicationscompany (December 2011 – December 2016); and IntelsatInvestments S.A., a telecommunications company (December2009–December2016)

MARTHA LANE FOX FounderandChairpersonofLuckyVoiceGroupLtd.FormerCo-FounderandManagingDirectoroflastminute.comCrossbenchPeerinHouseofLordsDirectorsince2016Age46Committees:Audit Committee and Nominating and CorporateGovernanceCommittee

Martha Lane Fox hasservedasamemberofourboardofdirectorssinceApril2016.SinceAugust2005,Ms.LaneFoxhasservedastheFounderandChairpersonofLuckyVoiceGroupLtd.,aprivatekaraokecompany.FromSeptember2012 toDecember2016,Ms.Lane Fox served as the Chairperson of MakieWorld Ltd., a 3Dprinting and game company. From 1998 to 2003, Ms. Lane Foxwas the Co-Founder and ManagingDirector of lastminute.com, atravelandleisurewebsite,andremainedontheboardofdirectorsuntil 2005.SinceDecember2017,Ms.LaneFoxhasservedasamember of the Joint Committee for National Security Strategy.SinceMay2018,Ms.LaneFoxhasservedasadirectorofChanelS.A.SinceMarch2013,Ms.LaneFoxhasservedasacrossbenchpeerintheUnitedKingdomHouseofLords.

SinceSeptember 2015, Ms. LaneFoxhasservedasthefounderand chair of doteveryone.org.uk, an organization advancing theunderstanding and use of Internet enabled technologies, and inSeptember 2014 was appointed Chancellor of Open University.Ms.LaneFoxhasalsoservedonvariousprivatecompanyboards.Ms.LaneFoxholdsaB.A.inAncientHistoryandModernHistoryfromUniversityofOxford.

Skills and Expertise:✓ Global business leadership, operational experience, and

management experience as former Co-Founder andManagingDirectoroflastminute.com.

✓ Outside board experience as a director of a large, complexglobalpubliccompany,aswellasseveralprivatecompanies.

✓ Valuableexperienceintechnologyandconsumerindustries.✓ Government insights as crossbench peer in the United

KingdomHouseofLords.

Other Public Company Board Service: Marks and Spencer plc, amultinationalretailer(July2007–April2015)

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PATRICK PICHETTE GeneralPartneratInoviaCapital FormerSeniorVicePresidentandChiefFinancialOfficerofGoogleDirectorsince2017Age57Committees: Audit Committee (Chair) and CompensationCommittee

Patrick Pichette hasservedasamemberofourboardofdirectorssinceDecember 2017. SinceApril 2018, Mr. Pichettehasservedasageneral partneratInoviaCapital, aCanadianventurecapitalfirm. From August 2008 until May 2015, Mr. Pichette served asSeniorVicePresidentandChiefFinancialOfficerofGoogle.FromJanuary2001untilJuly2008,Mr.Pichetteservedasanexecutiveofficer of Bell Canada Enterprises Inc., a telecommunicationscompany, including, in his last position, as President, OperationsforBellCanada,andpreviouslyasExecutiveVicePresident,ChiefFinancial Officer, and Executive Vice President of Planning andPerformanceManagement.From1996to2000,Mr.PichettewasaprincipalatMcKinsey&Company,amanagementconsultingfirm.From 1994 to 1996, he served as Vice President and ChiefFinancial Officer of Call-Net Enterprises Inc., a Canadiantelecommunications company. Mr. Pichette holds a M.A. inPhilosophy, Politics, andEconomicsfromOxfordUniversityandaB.A. in Business Administration from Université du Québec àMontréal.

Skills and Expertise:✓ Global business leadership and extensive financial and

management expertise as former Senior Vice President andChiefFinancialOfficerofGoogle.

✓ Financial expertise and significant audit and financialreportingknowledge.

✓ Outside board experience as a director of a large, complexglobalpubliccompany.

Other Public Company Board Service: Lightspeed POS Inc., aprovider of e-commerce and point of sale solutions (September2018–Present);BombardierInc.,amanufacturerofairplanesandtrains(October2013–November2017)

DAVID ROSENBLATT ChiefExecutiveOfficerof1stdibs.com,Inc.Directorsince2010Age52Committees:Compensation Committee (Chair) and NominatingandCorporateGovernanceCommittee(Chair)

David Rosenblatt hasservedasamemberofourboardofdirectorssinceDecember2010.SinceNovember2011,Mr.Rosenblatthasserved as Chief Executive Officer of 1stdibs.com, Inc., an onlineluxury marketplace. From October 2008 to May 2009,Mr.RosenblattservedasPresidentofGlobalDisplayAdvertisingatGoogle.Mr.RosenblattjoinedGoogleinMarch2008inconnectionwithGoogle’sacquisitionofDoubleClick, Inc., aproviderofdigitalmarketing technology and services. Mr. Rosenblatt joinedDoubleClick in 1997 as part of its initial management team andserved in several executive positions during his tenure, includingas Chief Executive Officer from July 2005 to March 2008 andPresident from2000to July2005. Mr. Rosenblatt holds a B.A. inEast Asian Studies from Yale University and an M.B.A. fromStanfordUniversity.

Skills and Expertise:✓ Global business leadership and extensive financial and

management expertise as Chief Executive Officer of1stdibs.com,Inc.

✓ Offers us a unique perspective with respect to building andmanagingaglobalbrandinrapidly-changingindustries.

✓ Outside board experience as a director of a large, complexglobalpubliccompany,aswellasseveralprivatecompanies,which provides us with important perspectives in anevaluationofourpracticesandprocesses.

Other Public Company Board Service: IAC/ InterActiveCorp, amediaandinternetcompany(December2008–Present)

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ROBERT ZOELLICK FormerPresidentoftheWorldBankGroupDirectorsince2018Age66Committees:Audit Committee and Nominating and CorporateGovernanceCommittee

Robert Zoellick hasservedasamemberofourboardofdirectorssinceJuly2018.FromMay2017toApril2019,Mr.Zoellickservedas the Chairman of the Board of Directors of AllianceBernsteinHolding L.P., a global investment management firm(“AllianceBernstein”). Since August 2013,Mr. Zoellick has servedas a board member of Temasek Holdings (Private) Ltd., aSingaporean corporation principally engaged in the business ofinvestment holding. Since May 2017, he has served as a SeniorCounselor to the Brunswick Group, a global public affairs andcommunicationsfirm.SinceJuly2012,hehasalsobeenaSeniorFellowattheBelferCenterforScienceandInternationalAffairsatHarvardUniversity’sKennedySchoolofGovernment.

FromOctober 2013until September 2016, Mr. Zoellick servedasChairman of the Board of International Advisors at the GoldmanSachs Group. From July 2007 until June 2012, he served asPresidentoftheWorldBankGroup.From2006to2007,heservedas Vice Chairman, International and a managing director ofGoldman Sachs. Mr. Zoellick served as the Deputy Secretary fortheU.S.DepartmentofStatefrom2005until2006andastheU.S.Trade Representative from 2001 to 2005. From 1985 to 1993,Mr. Zoellick held various posts in the U.S. government, includingCounselortotheU.S.SecretaryoftheTreasury, UnderSecretaryofState,andDeputyChiefofStaffattheWhiteHouse.Mr.Zoellickholds a B.A. from Swarthmore College, a J.D. from the HarvardLaw School and an M.P.P. from Harvard University’s KennedySchoolofGovernment.

Skills and Expertise:✓ Finance and accounting experience as Chairman of the

Board of Directors of AllianceBernstein, various positions atGoldmanSachs,andasPresidentoftheWorldBankGroup.

✓ Government and public policy experience from severalpositions in the U.S. Government, as a Senior Fellow atHarvardUniversity’sKennedySchoolofGovernment,andasaSeniorCounselortotheBrunswickGroup.

✓ Global business leadership and operational experience asPresidentoftheWorldBankGroup.

✓ Outside board experience as a director of large, complexglobalpubliccompanies.

Other Public Company Board Service: AllianceBernstein (May2017–April2019)andLaureateEducation,Inc.,anetworkoffor-profithigherinstitutions(December2013–December2017)


DirectorIndependenceOur common stock is listed on the NYSE. Under the listingstandards of the NYSE, independent directors must comprise amajority of a listed company’s board of directors. In addition, thelisting standards of the NYSE require that, subject to specifiedexceptions, each member of a listed company’s audit,compensation, and nominating and corporate governancecommittees be independent. Under the listing standards of theNYSE,adirectorwillonlyqualifyasan“independentdirector”if,intheopinionofthatlistedcompany’sboardofdirectors,thatdirectorhasnomaterialrelationshipwiththelistedcompany(eitherdirectlyorasapartner,stockholderorofficerofanorganizationthathasarelationship with the company) and such director does not havespecifiedrelationshipswiththecompany.

In addition, audit committee members must satisfy the additionalindependencecriteriasetforthinRule10A-3undertheSecuritiesExchangeActof1934,asamended(the“ExchangeAct”),andthelistingstandardsoftheNYSE.Compensationcommitteemembersmust also satisfy the additional independence criteria set forth inRule 10C-1 under the Exchange Act and the listing standards oftheNYSE.

Our board of directors has undertaken a review of theindependence of our directors. Based on information provided byeachdirector concerning his or her background, employment andaffiliations, our board of directors has determined that Ms. LaneFoxandDr. Okonjo-Iweala, andMessrs. Cohn, Durban, Pichette,Rosenblatt, Taylor and Zoellick are “independent” as that term isdefined under the listing standards of the NYSE. As discussedbelow, all members of our audit and compensation committeesalso satisfy the heightened independence standards applicable tothosecommittees.InthecaseofMr.WilliamsandMs.Lee,formermembersofourboardofdirectorswhoservedasdirectorsin2019,Mr.Williams,oneofourco-founders,hadbeenindependentsince2015,andMs.Leewasindependentduringthetimesheservedonour boardof directors. In makingthesedeterminations, our boardofdirectorsconsideredthecurrentandpriorrelationshipsthateachnon-employee director has with our company and all other factsand circumstances our board of directors deemed relevant indetermining their independence, including in assessing themateriality of a director’s relationship with the company,consideringtheissuefromthestandpointoftheorganizationswithwhichthedirectorhasanaffiliation,andthetransactionsinvolvingthemdescribedinthesectiontitled“RelatedPersonTransactions.”

AgreementswithSilverLakeandElliottManagementOn March 9, 2020, we entered into separate agreements(collectively, the “Agreements”) with funds affiliated with SilverLake (collectively, “Silver Lake”) and Elliott ManagementCorporation (collectively, “Elliott”). The Agreements includeprovisions regarding various matters agreed amongst the partiesthereto including, but not limited to, the appointment of directors,procedures for determining replacements for the newly appointeddirectors, voting commitments, “standstills” restricting certainconduct and activities during the periods specified in eachAgreement, non-disparagement, restrictions on comments orinfluence regarding any Twitter policies or rules, or policy or ruleenforcement decisions, and other items that are addressedseparately in each Agreement. A description of the Agreementsandcopiesthereof areincludedinaForm8-Kfiledwith theSEConMarch9,2020.

Pursuant to the Agreements, Egon Durban was appointed to ourboard of directors on March 12, 2020 and Jesse Cohn wasappointedtoourboardofdirectorsonApril7,2020.Aspreviouslydisclosed, our board of directors is also engaged in a process ofidentifyinganewindependentdirector,focusingoncandidateswhoreflect thediversity of theTwitter service, whoalsopossessdeeptechnologyandAIexpertise.

ManagementStructureCommitteeIn March 2020, in connection with the Agreements, our board ofdirectors formed an independent, five-person committee, themanagement structure committee, that will build on the board ofdirectors’ regular evaluation of our leadership structure. Messrs.Cohn, Durban, and Pichette serve as the members of themanagement structure committee, with Mr. Pichette serving asChairperson. Pursuant to the Agreements, two additionalindependent directors will be added to the management structurecommittee.Themanagementstructurecommitteewillalso,amongotherthings,evaluatetheChiefExecutiveOfficersuccessionplanwithour Chief ExecutiveOfficer andmakerecommendationswithrespect to the Company’s staggered board. The managementstructure committee is expected to report on its evaluation to thefull board of directors any considerations or recommendedchanges andwill conclude its work andshare the results publiclybeforetheendoftheyear.

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We have an active and engaged board of directors that iscommitted to fulfilling its fiduciary duty to act in good faith in thebest interests of our company and all of our stockholders. Duringour fiscal year ended December 31, 2019, our board of directorsheld five meetings (including regularly scheduled and specialmeetings) and acted by written/electronic consent six times, andeachdirectorattendedatleast75%oftheaggregateof(i)thetotalnumberofmeetingsofourboardofdirectors

heldduringtheperiodforwhichheorshehasbeenadirectorand(ii) the total number of meetings held by all committees of ourboard of directors on which he or she served during the periodsthatheorsheserved.

Althoughwedonothaveaformalpolicyregardingattendancebymembers of our board of directors at annual meetings ofstockholders, we encourage, but do not require, our directors toattend. Four directors attended our 2019 annual meeting ofstockholders.

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BoardLeadershipStructureandRoleofOurLeadIndependentDirectorWebelievethatthestructureofourboardofdirectorsanditscommitteesprovidesstrongoverallmanagementofourcompany.

Separate Executive Chairman and Chief Executive Officer Roles.WehavemaintainedseparateExecutiveChairmanoftheboard ofdirectors andChief Executive Officer rolessinceOctober 2015. Wetreat thesepositionsasseparate, with thedistinct responsibilitiesofeachroledetailedbelow.

RESPONSIBILITIES OF EXECUTIVE CHAIRMANRESPONSIBILITIES OF

CHIEF EXECUTIVE OFFICER

• Provideguidance,adviceandmentorshiptotheChiefExecutiveOfficerandotherexecutiveofficers.

• Involvementinkeycorporatematters,suchasrecruiting,majortransactions,andbroaderbusiness,customerandgovernmentrelationships.

• Monitorthecontent,qualityandtimelinessofinformationsenttoourboardofdirectors.

• Presideover,setagendaforandchairboardmeetings.• Coordinatewithchairsofboardofdirectorscommittees.• Assist the nominating and corporate governance committee

with (i) the board of director’s annual evaluation and self-assessment and (ii) board of directors composition andevolution planning, including review of committeememberships.

• Develop,setanddrivethestrategicdirection,imperativesandprioritiesofourcompany.

• Overseethegeneralmanagementandoperationofourcompany.

• Overseetheattainmentofourstrategic,operationalandfinancialgoalsandstrategicandoperationalplanning.

• Responsiblefortheguidance,developmentandoversightofseniormanagement.

• Chief spokesperson to our employees, people on Twitter,partnersandstockholders.

Lead Independent Director.Eachof thedirectors, other thanMessrs. DorseyandKordestani, areindependent. Theboardof directorsbelievesthattheindependentdirectorsprovideeffectiveoversightofmanagement.Inaddition,ourindependentdirectorshaveappointedMr. Pichette as our Lead Independent Director, a position he has held since December 31, 2018. The responsibilities of our LeadIndependentDirectoraredetailedbelow.

RESPONSIBILITIES OF LEAD INDEPENDENT DIRECTOR

• Presideovermeetingsofourindependentdirectors.• Approveinformationtobesenttoourboardofdirectorsifrequestedtodosobyourboardofdirectors.• AdvisetheExecutiveChairmanastothequality,quantity,andtimelinessoftheflowofinformationfrommanagementthatis

necessaryfortheindependentdirectorstoperformtheirdutieseffectivelyandresponsibly.• Approveproposedmeetingagendasandschedules.• Callmeetingsofourboardofdirectorsorindependentdirectors.• ActastheprincipalliaisonbetweentheindependentdirectorsandtheExecutiveChairmanonsensitiveissues.• Additionaldutiesasourboardofdirectorsmayotherwisedetermineanddelegatetoassisttheboardofdirectorsinthefulfillmentof

itsresponsibilities.

WebelievethisstructureofaseparateExecutiveChairmanofourboardofdirectorsandChiefExecutiveOfficer, combinedwithaLeadIndependent Director, enableseachpersontofocusondifferent aspectsof companyleadershipandreinforcestheindependenceof ourboard of directors as a whole. We believe this structure also results in an effective balancing of responsibilities, experience andindependent perspective that meets the current business strategy andcorporate governance needsandoversight responsibilities of ourboardofdirectors.

BoardMeetingsandCommittees


Our board of directors has established an audit committee, acompensation committee and a nominating and corporategovernance committee. The composition and responsibilities ofeach of the committees of our board of directors is describedbelow. Members will serve on these committees until theirresignation or until as otherwise determined by our board ofdirectors.

AUDIT COMMITTEE

Our audit committee consists of Messrs. Pichette and Zoellick,Ms.LaneFoxandDr.Okonjo-Iweala,withMr.PichetteservingasChairperson. Mr. Zoellick was appointed to the audit committeeeffective January 1, 2020. Each of our audit committee membersmeets the requirements for independence for audit committeemembersunder thelisting standards of the NYSEandSECrulesand regulations, and the financial literacy requirements of thelisting standards of the NYSE. In addition, our board of directorshas determined that Mr. Pichette is an audit committee financialexpert withinthemeaningofItem407(d)ofRegulationS-KundertheSecuritiesActof1933,asamended(“SecuritiesAct”). Amongotherresponsibilities,ourauditcommittee:

• selects a qualified firm to serve as the independent registeredpublicaccountingfirmtoauditourfinancialstatements;

• helps to ensure the independence and performance of theindependentregisteredpublicaccountingfirm;

• discusses the scope and results of the audit with theindependentregisteredpublicaccountingfirm,andreviews,withmanagement andtheindependent registeredpublicaccountingfirm,ourinterimandyear-endoperatingresults;

• establishes and oversees procedures for employees to submitconcerns anonymously about questionable accounting or auditmatters;

• reviewsourpoliciesonriskassessmentandriskmanagement;

• reviewsrelatedpersontransactions;and

• approves or, as required, pre-approves, all audit and allpermissiblenon-auditservices,otherthandeminimisnon-auditservices, tobeperformedbytheindependent registeredpublicaccountingfirm.

Ourauditcommitteeoperatesunderawrittencharterthatsatisfiesthe applicable rules and regulations of the SEC and the listingstandards of the NYSE. A copy of the charter of our auditcommittee is available on our website athttps://investor.twitterinc.com. During fiscal 2019, our auditcommittee held five meetings and acted by written/electronicconsentthreetimes.

COMPENSATION COMMITTEE

Our compensation committee consists of Messrs. Rosenblatt,Pichette and Taylor, with Mr. Rosenblatt serving as Chairperson.Each of our compensation committee members meets therequirements for independence for compensation committeemembersunder thelisting standards of the NYSEandSECrulesandregulations. Eachmember of our compensation committee isalsoanon-employeedirectorunderRule16b-3promulgatedundertheExchangeAct.

Amongotherresponsibilities,ourcompensationcommittee:

• reviews,approvesanddetermines,ormakesrecommendationsto our board of directors regarding, the compensation of ourexecutiveofficers;

• administersourequitycompensationplans;

• reviews and approves and makes recommendations to ourboardofdirectorsregardingincentivecompensationandequitycompensationplans;and

• establishes and reviews general policies relating tocompensationandbenefitsofouremployees.

Ourcompensationcommitteeoperatesunderawrittencharterthatsatisfies the applicable rules and regulations of the SEC and thelisting standards of the NYSE. A copy of the charter of ourcompensation committee is available on our website athttps://investor.twitterinc.com. During fiscal 2019, ourcompensation committee held five meetings and acted bywritten/electronicconsentsixtimes.

NOMINATING AND CORPORATE GOVERNANCE COMMITTEE

Our nominating and corporate governance committee consists ofMessrs. Rosenblatt and Zoellick and Ms. Lane Fox, withMr.RosenblattservingasChairperson.Mr.Zoellickwasappointedto the nominating and corporate governance committee effectiveSeptember 12, 2019 replacing Ms. Lee who resigned therefromeffective August 31, 2019. Each of our nominating and corporategovernance committee members meets the requirements forindependenceunderthelistingstandardsoftheNYSErules.

Among other responsibilities, our nominating and corporategovernancecommittee:

• identifies,evaluatesandselects,ormakesrecommendationstoour board of directors regarding, nominees for election to ourboardofdirectorsanditscommittees;

• conductsperiodicreviewsofthecompany’ssuccessionplanningprocess for the company’s executive management team,reporting its findings and recommendations to the board ofdirectors, and assists the board of directors in evaluatingpotential successors to the company’s executive managementteam;

• evaluates the performance of our board of directors and ofindividualdirectors;

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• considersandmakesrecommendationstoourboardofdirectorsregarding the composition of our board of directors and itscommittees;

• reviewsdevelopmentsincorporategovernancepractices;

• evaluatesourinitiativesinsustainability,corporateresponsibilityandcharitablecontributions;

• evaluates the adequacy of our corporate governance practicesandreporting;and

• developsandmakesrecommendationstoourboardofdirectorsregardingcorporategovernanceguidelinesandmatters.

Our nominating and corporate governance committee operatesunderawrittencharterthatsatisfiestheapplicablelistingstandardsoftheNYSE.Acopyofthecharterofournominatingandcorporategovernance committee is available on our website athttps://investor.twitterinc.com. During fiscal 2019, our nominatingandcorporategovernancecommitteeheldthreemeetings.

MAJORITY VOTING WITH DIRECTOR RESIGNATION POLICY

Our Bylaws provide for majority voting and our CorporateGovernance Guidelines set forth the related director resignationpolicy for our director nominees. Our Bylaws state that to beelected in an uncontested election, a nominee must receive amajority of the votes cast with respect to such nominee (i.e., thenumberofsharesvoted“For”anomineemustexceedthenumberof shares voted “Against” for that nominee). Under our CorporateGovernanceGuidelines,eachnomineesubmits,inadvanceoftheirnomination,anirrevocableresignationthatwillbecomeeffectiveif(i) the nominee fails to receive the required vote at the AnnualMeetingand(ii)theboardofdirectorsacceptstheresignation.Thenominating and corporate governance committee promptlyconsiders whether to accept the resignation of any nominee whofails to receive the required number of votes for election andsubmits such recommendation for consideration by the board ofdirectors. In deciding whether to accept or reject the resignation,the nominating and corporate governance committee and theboardofdirectorswillconsideranyfactorstheydeemrelevant.Anynominee who tenders his or her resignation pursuant to ourCorporate Governance Guidelines may not participate in thenominatingandcorporategovernancecommitteerecommendationor board of directors action regarding whether to accept theresignationoffer.

Throughthispolicy,theboardofdirectorsseekstobeaccountableto all stockholders and respects the rights of stockholders toexpresstheirviewsthroughtheirvotesfornominees.However,theboard of directors also deems it important to preserve sufficientflexibility to make sound evaluations based on the relevantcircumstancesintheeventanomineefailstoreceiveamajorityofthe votes cast with respect to such nominee. For example, theboard of directors may wish to assess whether the suddenresignation of one or more directors would materially impair theeffective

functioningoftheboardofdirectors.Theboardofdirectors’policyisintendedtoallowtheboardofdirectorstoreacttosituationsthatcouldariseif theresignationof multipledirectors wouldprevent akey committee fromachieving a quorumor if a resignation wouldotherwiseimpairthefunctioningofthecommittee. Thepolicyalsowouldallowtheboardofdirectorstoassesswhetheradirectorwastargeted for reasons unrelated to his or her performance as adirector at the company. The policy requires that our nominatingand corporate governance committee and our board of directorsactpromptlytoconsideradirectornominee’sresignation.

Fulldetailsofourmajorityvotingwithdirectorresignationpolicyfornominees are set forth in our Bylaws and our CorporateGovernanceGuidelines,availableathttps://investor.twitterinc.com.

Notwithstandingtheforegoing,ifthenumberofnomineesexceedsthenumberof directorstobeelectedat theendof theapplicablenoticeperiodsetforthinSection2.4ofArticleIIofourBylaws(e.g.,a contested election) the majority voting with director resignationpolicyshall not applyandinsteadnomineesshall beelectedbyapluralityvoteofthesharesofourcommonstockpresentvirtuallyorby proxy at an annual meeting and entitled to vote thereon. Aplurality vote means that the nominees who receive the highestnumber of votes cast “For” are elected as directors. In such anelectionyoumayvote“For”or“Withhold”oneachofthenomineesforelectionasadirector.Abstentionswouldhavenoeffectontheoutcomeof this typeof election. Broker non-votes would havenoeffectontheoutcomeofthistypeofelection.

BOARD AND COMMITTEE PERFORMANCE EVALUATIONS

Ourboardofdirectorsandeachofitscommitteesconductannualself-evaluations to determine whether they are functioningeffectively and whether any changes are necessary to improvetheir performance. The nominating and corporate governancecommitteeisresponsibleforestablishingtheevaluationcriteriaandimplementing the process for the evaluation. Every year weconductinterviewsofeachdirectortoobtainhisorherassessmentof theeffectivenessof theboardof directorsandthecommittees,individual director performance and board of directors’ dynamics.The Executive Chairman and our Chief Legal Officer then reportthe results of these interviews at meetings of the nominating andcorporategovernancecommitteeandourboardofdirectors,wheretheresultsarediscussed.Inaddition,thechairofeachcommitteeguidesanannualcommitteeself-evaluationdiscussionamongthecommitteemembers.Theresultsofthecommitteeself-evaluationsare also reported to our board of directors for review anddiscussion.

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CompensationCommitteeInterlocksandInsiderParticipationNone of the members of our compensation committee during thelast fiscal year is or has been an officer or employee of ourcompany or had any relationship requiring disclosure under Item404 of Regulation S-K, under the Securities Act. None of ourexecutive officers currently serves, or in the past fiscal year hasserved, as a member of the board of directors or compensationcommittee (or other board committee performing equivalentfunctions) of any entity that has one or more of its executiveofficers serving on our compensation committee. None of ourexecutive officers currently serves, or in the past fiscal year hasserved, as a member of the compensation committee (or otherboardcommitteeperformingequivalentfunctions)ofanyentitythathas one or more of its executive officers serving on our board ofdirectors.

StockholderRecommendationsandNominationstotheBoardofDirectorsOurnominatingandcorporategovernancecommitteewillconsidercandidates for director recommended by stockholders holding atleast one percent (1%) of the fully diluted capitalization of thecompanycontinuously for at least twelve(12) monthsprior to thedate of the submission of the recommendation, so long as suchrecommendations comply with our amended and restatedcertificate of incorporation, Bylawsandapplicable laws, rules andregulations, including those promulgated by the SEC. Ournominating and corporate governance committee will evaluatesuchrecommendationsinaccordancewithitscharter,ourBylaws,our policies and procedures for director nominees, as well as theregular director nomineecriteria describedabove. Thisprocessisdesigned to ensure that our board of directors includes memberswith diverse backgrounds, skills and experience, includingappropriatefinancialandotherexpertiserelevanttoourbusiness.

Eligible stockholders wishing to recommend a candidate fornomination should contact our General Counsel in writing atTwitter, Inc., 1355 Market Street, Suite 900, San Francisco,California94103.Suchrecommendationsmustincludeinformationaboutthecandidate,astatementofsupportbytherecommendingstockholder, evidence of the recommending stockholder’sownership of our common stock and a signed letter from thecandidateconfirmingwillingnesstoserveonourboardofdirectors.Our nominating and corporate governance committee hasdiscretiontodecidewhichindividualstorecommendfornominationasdirectors.

UnderourBylaws,stockholdersmayalsonominatepersonsforourboard of directors. Any nomination must comply with therequirementssetforthinourBylawsandshouldbesentinwritingtoourSecretaryatTwitter,Inc.,1355MarketStreet,

Suite 900, San Francisco, California 94103. To be timely for our2021annual meeting of stockholders, our Secretary must receivethenominationnoearlierthanJanuary30,2021andnolaterthanMarch1,2021.

CommunicationswiththeBoardofDirectorsInterested parties wishing to communicate with our board ofdirectorsorwithanindividualmemberormembersofourboardofdirectors may do so by writing to our board of directors or to theparticular member or members of our board of directors, asapplicable, and mailing the correspondence to our GeneralCounsel at Twitter, Inc., 1355 Market Street, Suite 900, SanFrancisco,California94103.

Eachcommunicationshouldsetforth(i)thenameandaddressofthestockholder, asit appears in our records, andif thesharesofourcommonstockareheldbyanominee,thenameandaddressof the beneficial owner of such shares, and (ii) the number ofsharesofourcommonstockthatareownedofrecordbytherecordholderandbeneficiallybythebeneficialowner.

OurGeneralCounsel,inconsultationwithappropriatemembersofour board of directors as necessary, will review all incomingcommunications and, if appropriate, such communications will beforwardedtotheappropriatememberormembersofourboardofdirectors,orifnoneisspecified,totheExecutiveChairmanofourboardofdirectors.

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CorporateGovernanceOverviewWearecommittedtogoodcorporategovernance,whichpromotesthe long-term interests of our stockholders and strengthens ourboardofdirectorsandmanagementaccountabilityandhelpsbuildpublictrustinTwitter.

We provide a Governance Resources page on our InvestorRelations website (available at: https://investor.twitterinc.com/corporate-governance/governance-resources), which includesinformation regarding our commitment to corporate responsibilityand sustainability. We also publish our Twitter TransparencyReport on a biannual basis (available at:https://transparency.twitter.com), which includes detailedinformationandhighlightstrendsregardingtopicsincludingTwitterRules enforcement, platform manipulation, and legal requests. In2019, we also launched our Twitter Privacy Center (available at:https://privacy.twitter.com)toprovidemoreclarity aroundwhat wearedoingtoprotecttheinformationpeoplesharewithus.

We regularly monitor developments in the area of corporategovernance and review our processes and procedures in light ofsuch developments. As part of those efforts, we review federallaws affecting corporate governance, as well as rules adopted bytheSECandtheNYSEandweconsiderindustrybestpracticesforcorporategovernance.Webelievethatwehaveinplacecorporategovernance procedures and practices that are designed toenhanceourstockholders’interests.

CorporateGovernanceStrengthsHighlightsofourcorporategovernancepracticesincludethefollowing:

✓ 80%ofdirectorsareindependent

✓ SeparateCEOandExecutiveChairman

✓ LeadIndependentDirector

✓ Majorityvotingwithdirectorresignationpolicyforelectionofdirectors

✓ Compensationrecovery(clawback)policyforcash-basedincentiveorperformance-basedequitycompensationintheeventofafinancialrestatement

✓ Thoughtfulboardrefreshmentprocess

✓ 100%independentcommitteemembers

✓ Successionplanningprocess

✓ Strictanti-hedging,anti-shortsaleandanti-pledgingpolicies

✓ RobustCodeofBusinessConductandEthicsandCorporateGovernanceGuidelines

✓ Directorparticipationinorientationandcontinuingeducation

✓ Annualboardofdirectorandcommitteeself-evaluations

✓ Expansivestockholderoutreachprogram

✓ Periodicreviewsofcommitteecharters,CodeofBusinessConductandEthicsandCorporateGovernanceGuidelines

✓ Robustdirectornomineeselectionprocess

✓ Riskoversightbyfullboardandcommittees

✓ AnnualSay-on-Payvote

✓ Performance-basedequityincentives

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We believe that effective corporate governance should includeregular, constructive conversations with our stockholders. Certainmembers of our board and members of our executive teamhaveengagedwithstockholdersdirectlythroughouttheyear.Ourboardhas also directed our management team to seek and encouragefeedback from stockholders about our corporate governancepractices by conducting additional stockholder outreach andengagement throughout the year. During the past fiscal year, ourmanagement team reached out to our top institutional investorscollectively holding approximately 42% of our shares outstandingand met with institutional investors holding approximately 28%ofour shares outstanding to discuss our corporate governance andexecutive compensation programs and to answer questions andelicit feedback. These engagement efforts with our stockholdersallowed us to better understand our stockholders’ priorities andperspectives, and provided us with useful input concerning ourcompensation and corporate governance practices, includinghealth and safety, risk management and human capitalmanagement.

While wedonot expect that wewill be able to address all of ourstockholders’ feedback, we seek to optimize our corporategovernance by continually refining our relevant policies,procedures andpractices to align the needs of the company withevolving regulations and best practices, issues raised by ourstockholders,andotherwiseascircumstanceswarrant.Webelievethat our actions advanced our compensation practices andgovernanceinamannerresponsivetotheinputwereceivedfromourstockholdersandinamannerappropriateforourcompany.Wewillcontinuetoreviewourcompensationandgovernancepracticesand engage in significant dialogue with our stockholders goingforward.

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STOCKHOLDER OUTREACH


CorporateGovernanceGuidelinesandCodeofBusinessConductandEthicsOur board of directors has adopted our Corporate GovernanceGuidelinesthataddressitemssuchas:

• directorqualifications;

• directorindependence;

• directorresponsibilities;

• executivesessionsandleadershiproles;

• conflictsofinterest;

• boardofdirectorscommittees;

• directoraccesstomanagementandadvisors;

• directorcompensation;

• directororientationtrainingandcontinuingeducation;

• leadershipdevelopmentandsuccessionplanning;

• CEOevaluation;

• stockholdercommunicationswiththeboardofdirectors;and

• performance evaluation of the board of directors and itscommittees.

In addition, our board of directors has adopted our Code ofBusiness Conduct and Ethics which applies to all of ouremployees, officers and directors, including our Chief ExecutiveOfficer, Chief Financial Officer, and other executive and seniorfinancialofficers,thataddressesitemssuchas:

• ourcorevalues;

• corporateopportunities;

• fairdealing;

• compliancewithlawsandpolicies;

• confidentiality;

• financialintegrityandresponsibility;

• protectionanduseofassetsandintellectualproperty;

• publiccommunicationsandfinancialreporting;

• reportingviolationsoflawandpolicies;

• accountability;and

• noretaliation.

ThefulltextofourCorporateGovernanceGuidelinesandourCodeof Business Conduct and Ethics is posted on the CorporateGovernance portion of our website athttps://investor.twitterinc.com.WewillpostanyamendmentstoourCorporateGovernanceGuidelines,CodeofBusinessConductandEthics and any waivers of our Code of Business Conduct andEthicsfordirectorsandexecutiveofficersonthesamewebsite.

RiskManagementRisk is inherent with every business, and we face a number ofrisks,includingstrategic,financial, businessandoperational,legaland compliance, and reputational. We have designed andimplemented processes to manage such risks. Management isresponsible for the day-to-day management of risks the companyfaces,whileourboardofdirectors,asawholeandassistedbyitscommittees, has responsibility for the oversight of riskmanagement. In its risk oversight role, our board of directors hasthe responsibility to satisfy itself that the risk managementprocesses designed and implemented by management areappropriateandfunctioningasdesigned.

Ourboardofdirectorsbelievesthatopencommunicationbetweenmanagement and our board of directors is essential for effectiveriskmanagementandoversight.Ourboardofdirectorsmeetswithour Chief Executive Officer and other members of the seniormanagementteamatquarterlymeetingsofourboardofdirectors,where,amongothertopics, theydiscussstrategyandrisksfacingthe company, as well at such other times as they deemedappropriate. Oversight of human capital management is animportantroleofourboardofdirectors. Managementupdatesourboard of directors at least annually on our human capitalmanagement initiatives and progress. We publish a quarterlyInclusion and Diversity Report (available at:https://blog.twitter.com/en_us/topics/company/2020/Inclusion-and-Diversity-Report-March-2020.html) through which wecommunicate how we foster important conversations on ourservice, create programs that build a culture of inclusion, andpartner with organizations that are focused on building morediverse workplaces across the broader tech industry. In addition,cybersecurity is a critical part of risk management at Twitter.Managementregularlyengageswithourfullboardofdirectorsandouraudit committeeonTwitter’sinformationsecurityprogramanditsrelatedprioritiesandcontrols.

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Our board of directors believes that the directors and the ChiefExecutive Officer should collaborate on succession planning andthat the entire board should be involved in the critical aspects ofthe succession planning process, including establishing selectioncriteria that reflect our business strategies, identifying andevaluating potential internal candidates, reviewing the company’sleadershippipelineandtalentstrategies,andmakingmanagementsuccession decisions. Management succession is discussed atleast annually in board of directors meetings and in executivesessionsoftheboardofdirectors.

The nominating and corporate governance committee has theprimary responsibility to develop succession plans for thecompany’smanagementteam,whichitthenpresentsandmakes

recommendations on to the full board of directors. Our board ofdirectors’ and our nominating and corporate governancecommittee’s involvement in our annual succession planningprocess is outlined in our Corporate Governance Guidelines andthecharterofournominatingandcorporategovernancecommitteeavailableathttps://investor.twitterinc.com.

Directors become familiar with potential successors formanagement positions through various means, including boarddinners,presentationsandinformalmeetings.

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Whileour boardof directors is ultimately responsible for riskoversight, our boardcommitteesassist our boardof directors infulfilling itsoversight responsibilities in certain areas of risk, as summarized below. In addition, our full board of directors reviews strategic andoperationalriskinthecontextofreportsfromthemanagementteam,receivesreportsonallsignificantcommitteeactivitiesateachregularmeeting,andevaluatestherisksinherentinsignificanttransactions.

BOARD/COMMITTEE PRIMARY AREAS OF RISK OVERSIGHT

FullBoardofDirectors Strategic, financial, business and operational, legal andcompliance, andreputational risksandexposuresassociatedwithour business strategy, cybersecurity, privacy, safety of people onTwitter, product innovation and product road map, policy matters,significant litigation and regulatory exposures, significanttransactions and other current matters that may present materialrisktoour financial performance, operations, infrastructure, plans,prospectsorreputation,acquisitionsanddivestitures.

AuditCommittee Risksandexposuresassociatedwithfinancialmatters,particularlyfinancial reporting, disclosure controls and procedures, legal andregulatory compliance, financial risk exposures, cybersecurity,cyberrisk,liquidityrisk,tax,accounting,disclosure,internalcontrolover financial reporting, investment guidelines and credit matters,our programs and policies relating to legal compliance andstrategy, and our operational infrastructure, particularly reliability,businesscontinuityandcapacity. Discussions with management and the independent auditor,guidelines and policies with respect to risk assessment and riskmanagement. Receives regular reports frommanagement on key cybersecurity,cyber risks and related issues, including secure processing,storage,andtransmissionofpersonalandconfidentialinformation,suchasthepersonallyidentifiableinformationofpeopleonTwitter.

CompensationCommittee Risks and exposures associated with leadership assessment,executive compensation programs and arrangements, includingoverallincentiveandequityplans.

NominatingandCorporateGovernanceCommittee Risks and exposures associated with board organization,membership and structure, succession planning, corporategovernanceandoverallboardeffectiveness.

ManagementSuccessionPlanning


KEY OFFICER SUCCESSION PLANNING

In light of the critical importance of executive leadership to oursuccess,wehaveasuccessionplanningprocess.Thisprocessisfocused on key leaders, including our Chief Executive Officer.Periodically, the full board of directors reviews these successionplansandanyfindingsandrecommendationsastosuccessionintheevent of eachkeyofficer’s termination of employment for anyreason(includingdeathordisability).

CEO SUCCESSION PLANNING

OurChiefExecutiveOfficerprovidesanannualreviewtotheboardof directors assessing our key officers. This review includes adiscussionaboutdevelopmentplansforthecompany’skeyofficerstohelppreparethemforfuturesuccession,contingencyplansandourChiefExecutiveOfficer’srecommendationastohissuccessor.In 2020, our management structure committee will also evaluatethe Chief Executive Officer succession plan with our ChiefExecutiveOfficeraspartofthecommittee’sduties.

DirectorCompensationIn December 2013, our board of directors, upon therecommendation of our compensation committee, adopted ourOutsideDirectorCompensationPolicyforthecompensationofournon-employeedirectors.

The Outside Director Compensation Policy was developed inconsultation with Compensia, Inc., an independent compensationconsulting firm (“Compensia”). Compensia providedrecommendations and competitive non-employee directorcompensation data and analyses. Our compensation committeeconsidered anddiscussed these recommendations anddata, andconsidered the specific duties and committee responsibilities ofparticular directors. Our compensation committee recommendedandourboardofdirectorsadoptedCompensia’srecommendationswhen it approved our non-employee director compensationprogram, which we believe provides our non-employee directorswith reasonable and appropriate compensation that iscommensuratewiththeservicestheyprovideandcompetitivewithcompensationpaidbyourpeerstotheirnon-employeedirectors.

The compensation committee periodically reviews the type andform of compensation paid to our non-employee directors, whichincludesamarketassessmentandanalysisbyCompensia.Aspartof this analysis, Compensia reviews non-employee directorcompensation trends and data from companies comprising thesame executive compensation peer group used by thecompensationcommitteeinconnectionwithitsreviewofexecutivecompensation.

Our non-employee directors receive equity compensation underthetermsofour2013EquityIncentivePlan(the“2013Plan”)andcash,asdescribedbelow.The2013Plancontainsmaximumlimitsonthesizeoftheequityawardsthatcanbegrantedtoeachofournon-employee directors in any fiscal year, but those maximumlimitsdonotreflecttheintendedsize

ofanypotentialgrantsoracommitmenttomakeanyequityawardgrants to our non-employee directors in the future. Thesemaximumlimitsunderour2013Planprovidethatnonon-employeedirectormaybegranted,inanyfiscalyear,(i)cash-settledawardshavingagrantdatefairvaluegreaterthan$4,000,000,butthatinthefiscalyearthatanon-employeedirectorfirstjoinsourboardofdirectors, he or she may be granted a cash-settled award with agrant date fair value of up to $8,000,000; and (ii) stock-settledawardshavingagrantdatefairvaluegreaterthan$4,000,000,butthatinthefiscalyearthatanoutsidedirectorfirstjoinsourboardofdirectors,heorshemaybegrantedstock-settledawardshavingagrantdatefairvalueofupto$8,000,000.Thegrantdatefairvaluesare determined according to generally accepted accountingprinciples.

Directors may be reimbursed for their reasonable expenses forattending board and committee meetings. Directors who are alsoour employees receive no compensation for their service asdirectors.

During2019,onlyMr.DorseyandMr.Kordestaniwereemployeesand,accordingly,didnotreceivecompensationundertheOutsideDirector Compensation Policy. See the section titled “ExecutiveCompensation” for additional information about Mr. Dorsey’scompensation.Mr.Kordestaniwasnotanamedexecutiveofficerin2019.

EQUITY COMPENSATION

Onthe date of each annual meeting of stockholders, eachof ournon-employee directors is granted restricted stock units (“RSUs”)having a grant date fair value approximately equal to $225,000,computed in accordance with Financial Accounting StandardsBoard(“FASB”),AccountingStandardsCodification(“ASC”),Topic718.ThesharesofourcommonstockunderlyingtheRSUsvestinquarterly installments beginning on the first quarter following thedateofgrant(onthesamedayofthemonthasthedateofgrant)but will vest in full on the date of the next annual meeting ofstockholdersif notfullyvestedonsuchdate, subject tocontinuedservice through each vesting date. Directors who are appointedmid-year receive a pro-rated RSUgrant based on the number ofmonths between their appointment date and the date of our nextannualmeetingofstockholders.

Asof thedateof this proxystatement, all non-employeedirectorswhoholdunvestedequityawardswouldbesubjecttoacceleratedvestingiftheirservicesweretobeterminatedinconnectionwithachangeofcontrol.

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CASH COMPENSATION

Eachofournon-employeedirectorsreceivesaquarterlycashfeeof $12,500 for serving on our board of directors. In addition,members of the three standing committees of our board ofdirectorsareentitledtothefollowingquarterlycashfees:

BOARD COMMITTEECHAIRPERSON

FEEMEMBER

FEE

Audit Committee $7,500 $2,500

Compensation Committee $5,000 $2,500

Nominating and CorporateGovernance Committee $ 3,750 $2,500

Our non-employee directors may elect to receive any cash feesthattheywouldotherwisebeentitledtoreceiveunderourOutsideDirectorCompensationPolicyintheformofadditionalRSUs.Suchelectionmustbemadenolaterthantwoweekspriortothedateofthe annual meeting of stockholders on which the annual grant ofRSUs described above will be made and the value of the RSUsgranted at such annual meeting of stockholders will be increasedby the amount of fees that would have otherwise been paid incash. In 2019, Mr. Taylor elected to receive all cash fees in theformof RSUsandDr. Okonjo-Iwealaelectedtoreceive$5,833ofcashfeesintheformofRSUs

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DIRECTOR COMPENSATION FOR 2019

Thefollowingtableprovidesinformationregardingthetotalcompensationthatwasearnedbyeachofournon-employeedirectorsin2019.Messrs.DurbanandCohn,whojoinedourboardofdirectorsinMarchandApril2020,respectively,arenotincludedinthetablebelow,butwillparticipatein2020intheequityandcashcompensationarrangementsfortheboardofdirectorsrelatedtodirectorswhoareappointedmid-yeardescribedabove.

DIRECTOR

FEES EARNED OR PAID IN CASH

($)

STOCK AWARDS

($) (1)TOTAL

($)

MarthaLaneFox(2) 70,000 223,164 293,164

DebraLee(3) 27,083 223,164 250,247

NgoziOkonjo-Iweala(4) 54,167 233,076 287,243

PatrickPichette(5) 90,000 223,164 313,164

DavidRosenblatt(6) 82,917 223,164 306,081

BretTaylor(7) — 282,676 282,676

EvanWilliams(8) 45,833 — 45,833

RobertZoellick(9) 53,333 223,164 276,497(1) TheamountsreportedrepresentthefairvalueofRSUsgranted.AmountsshownmayvaryfromourOutsideDirectorCompensation

Policyduetochangesin our sharepricefromthedatethenumberof equivalent shareswasdeterminedandthegrant date. Suchvalue does not take into account any forfeitures related to service-based vesting conditions. The valuation assumptions used indeterminingsuchamountsaredescribedintheNotestoConsolidatedFinancialStatementsincludedinourAnnualReportonForm10-KfiledonFebruary19,2020.

(2) AsofDecember31,2019,Ms.LaneFoxheld3,028RSUswhichvestinquarterlyinstallmentssuchthattheRSUswillvestinfullontheearlierofthedateofourAnnualMeetingorMay29,2020,subjecttocontinuedservicethrougheachsuchvestingdate.

(3) Ms.Leeresignedasamemberof theboardof directorseffectiveAugust 31, 2019andforfeited4,542RSUsgrantedin2019asaresultoftheservice-basedvestingconditions.AsofDecember31,2019,Ms.LeedidnotholdanyRSUs.

(4) Dr. Okonjo-Iweala elected to receive $5,833 of cash fees in the formof RSUs. As of December 31, 2019, Dr. Okonjo-Iweala held3,163RSUswhichvestinquarterlyinstallmentssuchthattheRSUswillvestinfullontheearlierofthedateofourAnnualMeetingorMay29,2020,subjecttocontinuedservicethrougheachsuchvestingdate.

(5) AsofDecember31,2019,Mr.Pichetteheld3,028RSUswhichvestinquarterlyinstallmentssuchthattheRSUswillvestinfullontheearlierofthedateofourAnnualMeetingorMay29,2020,subjecttocontinuedservicethrougheachsuchvestingdate.

(6) AsofDecember31,2019,Mr.Rosenblattheld3,028RSUswhichvestinquarterlyinstallmentssuchthattheRSUswillvestinfullontheearlier of thedate of our Annual Meetingor May29, 2020, subject to continuedservicethrougheachsuchvesting date. AsofDecember 31, 2019, Mr. Rosenblatt held an option to purchase a total of 162,000 shares of our common stock all of which werevestedasofDecember31,2019.

(7) Mr.TaylorelectedtoreceiveallcashfeesintheformofRSUs.AsofDecember31,2019,Mr.Taylorheld3,836RSUswhichvestinquarterlyinstallmentssuchthattheRSUswillvestinfullontheearlierofthedateofourAnnualMeetingorMay29,2020,subjecttocontinuedservicethrougheachsuchvestingdate.

(8) Mr.Williamselectedtoreceivealloutsidedirectorcompensationintheformofcash.Mr.WilliamsresignedasamemberoftheboardofdirectorseffectiveFebruary28,2019.

(9) AsofDecember31,2019,Mr.Zoellickheld3,028RSUswhichvestinquarterlyinstallmentssuchthattheRSUswillvestinfullontheearlierofthedateofourAnnualMeetingorMay29,2020,subjecttocontinuedservicethrougheachsuchvestingdate.


Our board of directors is currently composed of ten members. Inaccordance with our amended and restated certificate ofincorporation,ourboardofdirectorsisdividedintothreestaggeredclassesofdirectors.AttheAnnualMeeting,threeClassIdirectorswill be elected for a three-year term to succeed the Class Idirectors whose term is then expiring. Each director’s termcontinues until the election and qualification of his or hersuccessor,orsuchdirector’searlierdeath,resignation,orremoval.

NomineesOur nominating and corporate governance committee hasrecommended, and our board of directors has approved, OmidKordestani, NgoziOkonjo-IwealaandBretTaylorasnomineesforelection as Class I directors at the Annual Meeting. If elected,Messrs.KordestaniandTaylorandDr.Okonjo-IwealawillserveasClassIdirectorsuntilour2023annualmeetingofstockholdersanduntil their successors are duly elected and qualified, or until theirearlier death, resignation, or removal. Each of the nominees iscurrentlyadirectorofourcompany;however,Dr.Okonjo-Iwealaisstanding for election by stockholders for the first time. Forinformationconcerningthenominees,pleaseseethesectiontitled“BoardofDirectorsandCorporateGovernance.”

IfyouareastockholderofrecordandyousignyourproxycardorvotebytelephoneorovertheInternetbutdonotgiveinstructionswith respect to the voting of directors, your shares will be voted“FOR” the election of Messrs. Kordestani and Taylor andDr.Okonjo-Iweala.WeexpectthateachofMessrs.KordestaniandTaylor and Dr. Okonjo-Iweala will accept such nomination;however,intheeventthatadirectornomineeisunableordeclinestoserveasadirectoratthetimeoftheAnnualMeeting,theproxieswillbevotedforanynomineedesignatedbyourboardofdirectorstofill suchvacancy.If youareastreetnamestockholderandyoudo not give voting instructions to your broker, bank or nominee,your broker, bank or other nominee will not vote your shares onthismatter.

VoteRequiredOur Bylaws provide for majority voting and our CorporateGovernance Guidelines set forth the related director resignationpolicy for our director nominees. Our Bylaws state that to beelected in an uncontested election, a nominee must receive amajority of the votes cast with respect to such nominee (i.e., thenumberofsharesvoted“For”anomineemustexceedthenumberof sharesvoted“Against” for that nominee). Abstentionswill haveno effect on the outcome of this proposal. Broker non-votes willhavenoeffectontheoutcomeofthisproposal.

Under our Corporate Governance Guidelines, each nomineesubmits,inadvanceoftheirnomination,anirrevocableresignationthat will become effective if (i) the nominee fails to receive therequiredvoteattheAnnualMeetingand(ii)theboardofdirectorsacceptstheresignation.Thenominatingand

corporate governance committee promptly considers whether toaccept the resignation of any nominee who fails to receive therequired number of votes for election and submits suchrecommendation for consideration by the board of directors. Indecidingwhethertoacceptorrejecttheresignation,thenominatingand corporate governance committee and the board of directorswill consider any factors they deem relevant. Any nominee whotenders his or her resignation pursuant to our CorporateGovernanceGuidelinesmaynotparticipateinthenominatingandcorporate governance committee recommendation or board ofdirectorsactionregardingwhethertoaccepttheresignationoffer.

Throughthispolicy,theboardofdirectorsseekstobeaccountableto all stockholders and respects the rights of stockholders toexpresstheirviewsthroughtheirvotesfornominees.However,theboard of directors also deems it important to preserve sufficientflexibility to make sound evaluations based on the relevantcircumstancesintheeventanomineefailstoreceiveamajorityofthe votes cast with respect to such nominee. For example, theboard of directors may wish to assess whether the suddenresignation of one or more directors would materially impair theeffective functioning of the board of directors. The board ofdirectors’policyisintendedtoallowtheboardofdirectorstoreacttosituationsthatcouldariseiftheresignationofmultipledirectorswould prevent a key committee from achieving a quorum or if aresignation would otherwise impair the functioning of thecommittee. The policy also would allow the board of directors toassesswhetheradirectorwastargetedforreasonsunrelatedtohisor her performance as a director at the company. The policyrequiresthatournominatingandcorporategovernancecommitteeand our board of directors act promptly to consider a directornominee’sresignation.

Fulldetailsofourmajorityvotingwithdirectorresignationpolicyfornominees are set forth in our Bylaws and our CorporateGovernanceGuidelines,availableathttps://investor.twitterinc.com.

Notwithstandingtheforegoing,ifthenumberofnomineesexceedsthenumberof directorstobeelectedat theendof theapplicablenoticeperiodsetforthinSection2.4ofArticleIIofourBylaws(e.g.,a contested election) the majority voting with director resignationpolicyshall not applyandinsteadnomineesshall beelectedbyapluralityvoteofthesharesofourcommonstockpresentvirtuallyorby proxy at an annual meeting and entitled to vote thereon. Theelection of directors at the Annual Meeting is not a contestedelection,andthereforemajorityvotingwillapply.

THEBOARDOFDIRECTORSRECOMMENDSAVOTE“FOR”EACHOFTHENOMINEES

NAMEDABOVE.

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PROPOSALNO.1ELECTIONOFDIRECTORS


TheDodd-FrankActandSection14AoftheExchangeActenableourstockholderstoapprove,onanadvisory,ornon-binding,basisthe compensation of our named executive officers as disclosedpursuant to Section 14A of the Exchange Act. This proposal,commonly known as a “Say-on-Pay” proposal, gives ourstockholders theopportunity toexpresstheir viewsonournamedexecutive officers’ compensation as a whole. This vote is notintended to address any specific item of compensation or anyspecific named executive officer, but rather the overallcompensation of all of our named executive officers and thephilosophy, policies and practices described in this proxystatement. Since 2014, we have held our Say-on-Pay vote everyyear.

The Say-on-Pay vote is advisory, and therefore is not binding onus, our board of directors or our compensation committee. TheSay-on-Payvotewill,however,provideinformationtousregardinginvestor sentiment about our executive compensation philosophy,policies and practices, which the compensation committee will beabletoconsiderwhendeterminingexecutivecompensationfortheremainder of the current fiscal year and beyond. Our board ofdirectors and our compensation committee value the opinions ofour stockholders and to the extent there is any significant voteagainstthenamedexecutiveofficercompensationasdisclosedinthis proxy statement, we will endeavor to communicate withstockholderstobetterunderstandtheconcernsthatinfluencedthevote, consider our stockholders’ concerns and the compensationcommittee will evaluate whether any actions are necessary toaddressthoseconcerns.

We believe that the information provided in the “ExecutiveCompensation” section of this proxy statement, and in particularthe information discussed in “Executive Compensation—CompensationDiscussionandAnalysis”below,demonstratesthatour executive compensation program was designed appropriatelyandisworkingtoensuremanagement’sinterestsarealignedwithour stockholders’ interests to support long-term value creation.Accordingly, weask our stockholders to vote “FOR” the followingresolutionattheAnnualMeeting:

“RESOLVED,thatthestockholdersapprove,onanadvisorybasis,the compensation paid to the named executive officers, asdisclosedin theproxy statement for the Annual Meeting pursuantto the compensation disclosure rules of the Securities andExchangeCommission,includingthecompensationdiscussionandanalysis,compensationtablesandnarrativediscussion,andotherrelateddisclosure.”

VoteRequiredTheapproval,onanadvisorybasis,oftheSay-on-Payrequirestheaffirmative vote of a majority of the shares of our common stockpresentvirtuallyorbyproxyattheAnnualMeetingandentitledtovotethereon.Abstentionswillhavetheeffectofavoteagainsttheproposalandbrokernon-voteswillhavenoeffect.

Although the vote is non-binding, our board of directors and ourcompensationcommitteevaluetheopinionsofourstockholdersinthis matter and, to the extent there is any significant vote againstthe named executive officer compensation as disclosed in thisproxy statement, we will endeavor to communicate withstockholderstobetterunderstandtheconcernsthatinfluencedthevote, consider our stockholders’ concerns and the compensationcommittee will evaluate whether any actions are necessary toaddressthoseconcerns.

THEBOARDOFDIRECTORSRECOMMENDSAVOTE“FOR”

THEAPPROVAL,ONANADVISORYBASIS,OFOUR

NAMEDEXECUTIVEOFFICERCOMPENSATION.

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PROPOSALNO.2ADVISORYVOTEONNAMEDEXECUTIVEOFFICERCOMPENSATION


Ouraudit committeehasappointedPricewaterhouseCoopersLLP(“PwC”) as our independent registered public accounting firm, toaudit our consolidated financial statements for our fiscal yearendingDecember 31, 2020. PwChasservedasour independentregistered public accounting firm since the fiscal year endedDecember31,2009.

At the Annual Meeting, our stockholders are beingaskedto ratifythe appointment of PwC as our independent registered publicaccountingfirmforourfiscalyearendingDecember31,2020.Ouraudit committee is submitting the appointment of PwC to ourstockholders because we value our stockholders’ views on ourindependent registered public accounting firm and as a matter ofgood corporate governance. Notwithstanding the appointment ofPwCandevenifourstockholdersratifytheappointment,ourauditcommittee, in its discretion, may appoint another independentregisteredpublicaccountingfirmatanytimeduringourfiscalyearifourauditcommitteebelievesthatsuchachangewouldbeinthebest interests of our company and our stockholders.RepresentativesofPwCwillbepresentattheAnnualMeeting,andthey will have an opportunity to make a statement and will beavailable to respond to appropriate questions from ourstockholders.

IfourstockholdersdonotratifytheappointmentofPwC,ourboardofdirectorsmayreconsidertheappointment.

FeesPaidtotheIndependentRegisteredPublicAccountingFirmThe following table presents fees for professional audit servicesandotherservicesrenderedtoourcompanybyPwCforourfiscalyearsendedDecember31,2018and2019.

2018 2019

(IN THOUSANDS)

AuditFees(1) $5,926 $6,306

Audit-RelatedFees(2) $ 1,316 $ 1,721

TaxFees(3) $2,558 $ 2,536

AllOtherFees(4) $ 18 $ 18

TotalFees $ 9,818 $10,581

(1) AuditFeesconsistoffeesforprofessionalservicesrenderedin connection with the review of our financial statementspresented in our Quarterly Reports on Form 10-Q and theaudit of our annual consolidated financial statements,including audited financial statements presented in ourAnnual Report onForm10-Kandservices that are normallyprovidedbytheindependentregisteredpublicaccountingfirmin connection with statutory and regulatory filings orengagementsforthosefiscalyears.

(2) Audit-Related Fees consist of fees for professional servicesfor assurance and related services that are reasonablyrelated to the performance of the audit or review of ourconsolidatedfinancialstatementsandare

not reported under “Audit Fees.” These services includeaccountingconsultationsconcerningfinancialaccountingandreporting standards, due diligence procedures in connectionwith acquisitions and procedures related to other attestservices.FeesforourfiscalyearsendedDecember31,2018and2019alsoconsistedofprofessionalservicesrenderedinconnectionwithoursecuritiesofferings.

(3) Tax Fees consist of fees for professional services for taxcompliance, tax advice and tax planning. These servicesincludeconsultationontaxmattersandassistanceregardingfederal,stateandinternationaltaxcompliance.

(4) All Other Fees consist of fees for permitted products andservicesotherthanthosethatmeetthecriteriaabove.

AuditorIndependenceInourfiscal yearendedDecember31, 2019, therewerenootherprofessional services provided by PwC, other than those listedabove, that would have required our audit committee to considertheircompatibilitywithmaintainingtheindependenceofPwC.

AuditCommitteePolicyonPre-ApprovalofAuditandPermissibleNon-AuditServicesofIndependentRegisteredPublicAccountingFirmOurauditcommitteehasestablishedapolicygoverningouruseoftheservicesof our independent registeredpublic accountingfirm.Underthispolicy,ourauditcommitteeisrequiredtopre-approveallaudit and non-audit services performed by our independentregistered public accounting firm in order to ensure that theprovisionofsuchservicesdoesnotimpairthepublicaccountants’independence. All services provided by PwC for our fiscal yearsended December 31, 2018 and 2019 were pre-approved by ourauditcommitteeinaccordancewiththispolicy.

VoteRequiredThe ratification of the appointment of PwC as our independentregisteredpublicaccountingfirmrequirestheaffirmativevoteofamajorityofthesharesofourcommonstockpresentvirtuallyorbyproxy at the Annual Meeting and entitled to vote thereon.Abstentionswillhavetheeffectofavoteagainsttheproposalandbrokernon-voteswillhavenoeffect.

THEBOARDOFDIRECTORSRECOMMENDSAVOTE“FOR”THERATIFICATIONOFTHE

APPOINTMENTOFPRICEWATERHOUSECOOPERS

LLP.

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PROPOSALNO.3RATIFICATIONOFAPPOINTMENTOFINDEPENDENTREGISTEREDPUBLICACCOUNTINGFIRM


TheNational Center for Public Policy Research, 20FStreet, NWSuite 700, Washington, DC 20001, has represented that it is thebeneficial owner of at least $2,000 in market value of Twitter’scommonstockandhasgivennoticeofitsintentiontopresenttheproposal below at the Annual Meeting. The proposal and theproponent’ssupportingstatementappearbelow.

Theboardofdirectorsopposesadoptionoftheproposalandasksstockholderstoreviewouroppositionstatement,whichfollowstheproponent’sproposalandsupportingstatement.

ProposalandSupportingStatementbyStockholderProponentRESOLVED

Shareholders request that Twitter Inc. (“Twitter”) issue a publicreport detailing the potential risks associated with omitting“viewpoint” and “ideology” from its written equal employmentopportunity (EEO) policy. The report should be available within areasonabletimeframe,preparedatareasonableexpenseandomitproprietaryinformation.

SUPPORTING STATEMENT

Twitter does not explicitly prohibit discrimination based onviewpointorideologyinitswrittenEEOpolicy.

Twitter's lack of a company-wide best practice EEOpolicy sendsmixedsignals to companyemployeesandprospective employeesandcallsintoquestiontheextenttowhichindividualsareprotecteddue to inconsistent state policies and the absence of federalprotection for partisan activities. Approximately half of Americanslive and work in a jurisdiction with no legal protections if theiremployertakesactionagainstthemfortheirpoliticalactivities.

Companies with inclusive policies are better able to recruit themost talented employees from a broad labor pool, resolvecomplaints internally to avoid costly litigation or reputationaldamage, and minimize employee turnover. Moreover, inclusivepoliciescontributetomoreefficienthumancapitalmanagementbyeliminating the need to maintain different policies in differentlocations.

There is ample evidence that individuals with conservativeviewpointsmayfacediscriminationatTwitter.

Many big tech companies are hostile to right-of-center thought.Companies such as Facebook and Google routinely fireconservativeemployeeswhentheyspeaktheirvalues.Atthe2019annual meeting of Apple shareholders, an audience member toldcompany CEO Tim Cook about her close friend who works atAppleandlivesinfearofretributioneverysingledaybecauseshehappens to be a conservative. Companies such as Amazon andAlphabet work with the Southern Poverty Law Center (“SPLC”).The SPLC regularly smears Christian and conservativeorganizations by labelling them as “hate” groups on par with theKKK.

Twitter hasalsobeenpreviously linkedtotheSPLC.1Twitterhasalso refused a request to increase the viewpoint diversity of itsboard. Twitter has also been credibly accused of mistreatingconservativevoicesonitsplatform.2Thissignalstoemployeesthatviewpointdiscriminationiscondonedifnotencouraged.

Presently shareholders are unable to evaluate how Twitterpreventsdiscriminationtowardsemployeesbasedontheirideologyor viewpoint, mitigates employee concerns of potentialdiscrimination, and ensures a respectful and supportive workatmospherethatbolstersemployeeperformance.

Without an inclusive EEO policy, Twitter may be sacrificingcompetitive advantages relative to peers while simultaneouslyincreasingcompanyandshareholderexposuretoreputationalandfinancialrisks.

We recommend that the report evaluate risks including, but notlimited to, negative effects on employee hiring and retention, aswell as litigation risks from conflicting state and company anti-discriminationpolicies.

1 https://www.washingtonexaminer.com/opinion/op-eds/twitter-dumps-southern-poverty-law-center-stops-making--hate-pay

2 https://quillette.com/2019/02/12/it-isnt-your-imagination-twitter-treats-conservatives-more-harshly-than-Iibe

TheCompany’sStatementofOppositionAtTwitter, webelieveourdifferencesmakeusstronger. Weworkto advance a culture of inclusion and diversity—somethingfundamentaltoourcollectivevoiceandourvalues.Webelievethatnooneshouldbediscriminatedagainstbecauseoffactorssuchasgender,race,nationalorigin,sexualorientation,genderidentityorexpression, religion, age, disability, and other legally protectedclasses. While laws protecting these values may vary in thelocationsinwhichweoperate,weremaincommittedtofosteringaninclusive and diverse workplace—where people can feelcomfortable,bethemselves,anddotheirbestwork.

IntheU.S.,wemaintainarespectfulworkplacepolicythatexplicitlyprohibitsdiscriminationagainst employees,applicantsandserviceprovidersonimproperorillegalgrounds.Ourpolicyprovidesthat,while we will make legitimate distinctions among applicants andemployeesbasedongroundslikeskills,performance,experience,and education, we do not permit or tolerate unequal treatment inhiring, job assignments, benefits/compensation, promotion, ordismissal on the basis of any protected characteristics, includingpolitical affiliation. We maintain anti-discrimination policies for ournon-U.S.locationsaswell,andcontinuallyreviewandmodifythesepolicies to meet local requirements. On our career website(www.careers.twitter.com),wemakecleartoapplicantsthatwewillnotdiscriminateonthebasisofanylegallyprotectedstatus.

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PROPOSALNO.4STOCKHOLDERPROPOSALREGARDINGANEEOPOLICYRISKREPORT


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PROPOSALNO.4STOCKHOLDERPROPOSALREGARDINGANEEOPOLICYRISKREPORT

Additionally, as part of our commitment to inclusion anddiversity,wepublishaquarterlyInclusionandDiversityReportthroughwhichwe communicate how we foster important conversations on ourservice, create programs that build a culture of inclusion, andpartner with organizations that are focused on building morediverseworkplacesacrossthebroadertechindustry.

Our board of directors also values inclusion and diversity when itseeksandevaluatesboardcandidates.Asdescribedaboveinthesection titled “Board of Directors and Corporate Governance—Considerations in Evaluating Director Nominees,” our CorporateGovernance Guidelines require our nominating and corporategovernancecommitteetoconsiderabroadrangeofbackgrounds,experiences and diversity (in all aspects of that word), includingdifferencesinprofessional background, education, skill, andotherindividualqualitiesandattributesthatcontributetothetotalmixofviewpointsandexperiencerepresentedonourboardofdirectors.

Given our numerous and broad anti-discrimination policies, theclearprohibitionofdiscriminationonthebasisofpoliticalaffiliationinourU.S.policy,andourcontinuedcommitmenttoinclusionanddiversity,ourboardofdirectorsbelievesthatissuingapublicreportdetailingthepotentialrisksassociatedwithomitting“viewpoint”and“ideology”fromourwrittenequalemploymentopportunitypolicy,ascontemplated by this proposal, is unnecessary and would notbenefitthecompanyorourstockholders.

For the above reasons, our board of directors believes that thisproposalisnotinthebestinterestsofTwitterorourstockholders,and unanimously recommends that you vote “AGAINST” thisproposal.

VoteRequiredTheapprovalofthisProposalNo.4requirestheaffirmativevoteofamajorityofthesharesofourcommonstockpresentvirtuallyorbyproxy at the Annual Meeting and entitled to vote thereon.Abstentionswillhavetheeffectofavoteagainsttheproposalandbrokernon-voteswillhavenoeffect.

THEBOARDOFDIRECTORSRECOMMENDSAVOTE

“AGAINST”PROPOSALNO.4


The audit committee is a committee of the board of directorscomprisedsolelyofindependentdirectorsasrequiredbythelistingstandardsoftheNYSEandrulesandregulationsoftheSEC.Theaudit committee operates under a written charter approved byTwitter’sboardofdirectors,whichisavailableonTwitter’swebsiteat https://investor.twitterinc.com. The composition of the auditcommittee,theattributesofitsmembersandtheresponsibilitiesoftheaudit committee, asreflectedinitscharter, areintendedtobein accordance with applicable requirements for corporate auditcommittees. The audit committee reviews and assesses theadequacyofitscharterandtheauditcommittee’sperformanceonanannualbasis.

With respect to Twitter’s financial reporting process, Twitter’smanagement is responsible for (1) establishing and maintaininginternal controls and (2) preparing Twitter’s consolidated financialstatements. Twitter’s independent registered public accountingfirm, PricewaterhouseCoopers LLP (“PwC”), is responsible forperforminganindependentauditofTwitter’sconsolidatedfinancialstatementsandofTwitter’sinternalcontroloverfinancialreportingin accordancewith theauditing standards of the Public CompanyAccounting Oversight Board (United States) andto issueareportthereon. It is the responsibility of the audit committee to overseetheseactivities.Itisnottheresponsibilityoftheauditcommitteetoprepare Twitter’s financial statements. Those are fundamentalresponsibilitiesofmanagement.Intheperformanceofitsoversightfunction,theauditcommitteehas:

• reviewedanddiscussedtheauditedfinancialstatementswithmanagementandPwC;

• discussedwithPwCthemattersrequiredtobediscussedbythe applicable requirements of the Public CompanyAccountingOversightBoard(“PCAOB”)andtheSEC;and

• received the written disclosures and the letters from PwCrequiredbyapplicablerequirementsofthePCAOBregardingthe independent accountant’s communicationswiththeauditcommitteeconcerningindependence,andhasdiscussedwithPwCitsindependence.

Based on the audit committee’s review and discussions withmanagement andPwC,theaudit committeerecommendedtotheboardofdirectorsthattheauditedfinancialstatementsbeincludedin the Annual Report on Form 10-K for the fiscal year endedDecember 31, 2019 for filing with the Securities and ExchangeCommission(“SEC”).

Respectfully submitted bythemembers of the audit committee oftheboardofdirectors:

PatrickPichette(Chair)MarthaLaneFoxNgoziOkonjo-IwealaRobertZoellick

This report of theaudit committeeis requiredbytheSECand, inaccordancewiththeSEC’srules,willnotbedeemedtobepartofor incorporated by reference by any general statementincorporatingbyreferencethisproxystatementintoanyfilingundertheSecuritiesActof1933,asamended(“SecuritiesAct”),orunderthe Securities Exchange Act of 1934, as amended (“ExchangeAct”), except to the extent that we specifically incorporate thisinformation by reference, and will not otherwise be deemed“solicitingmaterial” or “filed” undereither theSecurities Act or theExchangeAct.

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REPORTOFTHEAUDITCOMMITTEE


Jack Dorsey is one of our founders and has served as our ChiefExecutiveOfficer sinceSeptember2015andasamemberofourboard of directors since May 2007. Mr. Dorsey served as ourinterimChiefExecutiveOfficerfromJuly2015toSeptember2015andasourPresidentandChiefExecutiveOfficerfromMay2007toOctober2008.Mr.DorseyservedastheChairpersonofourboardofdirectorsfromOctober2008toSeptember2015.SinceFebruary2009,Mr.DorseyhasservedasCo-FounderandChiefExecutiveOfficerofSquare,Inc.,aproviderofpaymentprocessingservices.Mr. Dorsey currently serves on the board of directors of Square,Inc.

Omid R. Kordestani hasservedastheExecutiveChairmanofourboard of directors since October 2015. From August 2014 toAugust2015,Mr.KordestaniservedasSeniorVicePresidentandChief Business Officer at Google. From May 1999 to April 2009,Mr. Kordestani served as Senior Vice President of Global Salesand Business Development at Google. From 1995 to 1999,Mr.KordestaniservedasVicePresidentofBusinessDevelopmentat Netscape Communications Corporation. Prior to joiningNetscape Communications Corporation, Mr. Kordestani heldpositions in business development, product management andmarketing at The 3DO Company, Go Corporation and Hewlett-Packard Company. Mr. Kordestani holds a B.S. in ElectricalEngineering from San Jose State University and an M.B.A. fromStanfordUniversity.

Ned Segal hasservedasourChiefFinancialOfficersinceAugust2017. From January 2015 to August 2017, Mr. Segal served asSenior Vice President of Financeof Intuit Inc. FromApril 2013toJanuary2015,Mr.SegalservedasChiefFinancialOfficerofRPXCorporation. From 1996 to April 2013, Mr. Segal held variouspositions at Goldman Sachs & Co. Mr. Segal holds a B.S. inSpanishfromGeorgetownUniversity.

Vijaya Gadde hasservedasourChiefLegalOfficersinceFebruary2018 and Secretary since August 2013, as our General Counselfrom August 2013 to February 2018, as our head ofcommunications from July 2015 to August 2016 and as ourDirector,LegalfromJuly2011toAugust2013.Ms.GaddeisalsoamemberoftheBoardofTrusteesofNewYorkUniversitySchoolofLaw. From October 2010 to July 2011, Ms. Gadde served asSenior Director and Associate General Counsel, Corporate, atJuniper Networks, Inc., a provider of network infrastructureproducts and services. From October 2000 to April 2010,Ms.GaddewasanattorneyatWilsonSonsiniGoodrich&Rosati,P.C.Ms.GaddeholdsaB.S.inIndustrialandLaborRelationsfromCornell University andaJ.D. fromNewYorkUniversitySchoolofLaw.

Matthew Derella has served as our Customers Lead sinceFebruary 2018, as Global VP, Twitter Client Solutions from July2016toFebruary2018,asVP,USDirectSalesOrganizationfromMarch 2013 to July 2016 and as Director, Agency Developmentand Brand Strategy from October 2012 to March 2013. Prior tojoining Twitter, Mr. Derella served in various leadership roles atGoogle and also worked at The Weather Channel Companiesleading marketing solutions for its largest revenue teams.Mr.DerellaholdsaB.A.inEnglishfromGeorgetownUniversityandisaninducteeintheAdvertisingHallofAchievement.

Michael Montano has served as our Engineering Lead since July2018.BeforejoiningTwitter,Mr.Montanoco-foundedBackTypetofocusonorganizingonlineconversationsandhelpingpeoplefollowwhatwasbeingtalkedabout.BackTypecreatedandopen-sourcedthe Apache Storm project, a distributed realtime computationsystem. BackTypewasacquired by Twitter in 2011.SincejoiningTwitter,Mr.Montanohasledteamsacrosstheplatform,advertiserproducts and the consumer product. Mr. Montano holds a BAScElectrical and Computer Engineering from the University ofToronto.

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EXECUTIVEOFFICERSThefollowingtableidentifiescertaininformationaboutourexecutiveofficersasofMarch31,2020.Ourexecutiveofficersareappointedby,andserveatthediscretionof,ourboardofdirectors.Therearenofamilyrelationshipsamonganyofourdirectorsorexecutiveofficers.

NAME AGE POSITION

JackDorsey 43 ChiefExecutiveOfficerandDirector

OmidKordestani 56 ExecutiveChairman

NedSegal 45 ChiefFinancialOfficer

VijayaGadde 45 ChiefLegalOfficerandSecretary

MatthewDerella 42 CustomersLead

MichaelMontano 34 EngineeringLead


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EXECUTIVECOMPENSATION

CompensationDiscussionandAnalysisThisCompensationDiscussionandAnalysis(“CD&A”)includesadetaileddiscussionofcompensationforourcurrentandformerexecutiveofficersduringthefiscalyearendedDecember31,2019whowereNamedExecutiveOfficers(“NamedExecutiveOfficers”).

NamedExecutiveOfficersfor2019 ExecutiveCompensationHighlights

Jack Dorsey

Ned Segal

Vijaya Gadde

Matthew Derella

Michael Montano

ChiefExecutiveOfficer(“CEO”)

ChiefFinancialOfficer(“CFO”)

ChiefLegalOfficerandSecretary

CustomersLead

EngineeringLead

• CEO Compensation of $1.40.Asatestamenttohis commitmenttoandbeliefinTwitter’slong-termvalue creationpotential,ourCEO,JackDorsey,declinedall compensationandbenefitssince2015otherthanan annualsalaryof$1.40since2018. • Investor Outreach.Asinpreviousyearswereachedoutto ourtopinstitutionalinvestorscollectivelyholding approximately42%ofoursharesoutstandingandmet withinstitutionalinvestorsholdingapproximately28%of oursharesoutstandingforfeedbackoncertainelements ofourcompensationprogram. • Independent Compensation Consultant.Weutilizedour independentcompensationconsultingfirmonmatters relatingtocompensationdataandformulationof recommendationsforexecutivecompensation. • Equity Stakes Tie Executive Pay to Company Long-term Company Performance.In2019,approximately92%of thetotaltargetcompensationofourNamedExecutive Officers(excludingourCEO)wasequitybased. • Equity Compensation.Wecontinuedtouseaportfolio approachwhengrantingequityawardstoeachofour executiveofficersbyawardingamixoftime-basedRSU andperformance-basedequityawards. • Cash Compensation Below Market.In2019,weincreased thebasesalariesofourNamedExecutiveOfficers (excludingourCEO)reflectiveofmarketcompetitiveness. Targettotalcashcompensationforexecutiveofficers remainsbelowmarket.However,wearestrengtheningour programsin2020resultinginourexecutiveofficersbeing eligibletoparticipateinabonusprogramthatisintended toprovideamoremarket-basedbutalso performance-basedannualcashcompensationprogram (seethesectiontitled“ChangestoourExecutive CompensationProgramsfor2020”). • No Single Trigger Change of Control Arrangements.We donotprovideourexecutiveofficerswithsingletrigger changeofcontrolaccelerationonequityawards.

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ThisCD&Aisorganizedintofoursections:

Page37- Executive Summary

Page39- Elements of Pay and 2019 Compensation Decisions

Page43- Our Compensation-Setting Process

Page44- Other Compensation Information


Executive Summary

Company Overview and Strategy. Twitter is what’s happening inthe world and what people are talking about right now. Frombreakingnewsandentertainment,tosports,politics,andeverydayinterests,Twittershowseverysideofthestory.OnTwitteryoucanjoin the open conversation and watch highlights, clips, or live-streaming events. Twitter is available inmore than 40 languagesaroundtheworld.Theservicecanbeaccessedviatwitter.com,anarray of mobile devices via Twitter owned and operated mobileapplications (e.g. Twitter for iPhone and Twitter for Android), andSMS.

Our primary product, Twitter, is a global platform for public self-expressionandconversationinrealtime.Twitterallowspeopletoconsume, create, distribute and discover content and hasdemocratized content creation and distribution. Through Topics,Trends,andMoments,wehelppeoplediscoverwhat’shappeninglive.WealsocontinuetoimplementlivebroadcastsacrossTwitter,includingthroughpartnershipswithmediaoutletsandourplatformpartners.Mediaoutletsandourplatformpartnersalsohelpextendthe reach of Twitter content by distributing Tweets beyond ourproducts to complement their content. Periscope is a mobileapplication that lets anyone broadcast and watch video live withothers. Periscope broadcasts can also be viewed through Twitterandondesktopormobilewebbrowsers.

In 2019, we improved our machine-learning models to providemorerelevantcontentinpeople’sHometimelinesandnotifications.Wearemakingiteasierforpeopletofindwhattheyarelookingforwhen they come to Twitter by better organizing content aroundtopics and events, and making it easier to follow and joinconversations. We also continue to enhance the publicconversation around events on Twitter with live and on-demandvideocontent,includingshortvideosandhighlights,acrosssports,entertainment, news, and politics. In addition, we continued ourworktoinnovatefasteranddeliverbetterreturnsforadvertisersbyshipping new ad platform services as part of our effort to rebuildourcoreadserver.In

2019, we also continued our efforts to improve the health of theplatform, as we work to make sure that people feel safe being apartoftheconversationandareabletofindcredibleinformationonour service. Major areasof focuswithin health includeworkingtoproactively limit the visibility of unhealthy content, protecting theintegrity of election-related conversations and giving people morecontrolovertheirconversations.

Challenges. Wefacechallengesinhiringandretaining leadershipduetoanumberoffactors,including:

• Highly Competitive Technology Industry: We are a uniqueplatform,awidelyrecognizedbrandandarecognizedinnovatorin thetechnologyindustry. However, someprospectiveleadersmay believe there is less opportunity to realize significantappreciation through equity compensation at a public companyof our size as comparedwith a privately-held start-up or someother earlier stage public companies. Fluctuations in our stockprice and perception of our business in the market can alsopresentchallengesincompetingfortalent.

• ExtremelyCompetitiveEmployeeRetentionEnvironment:Inthetechnology industry, there is substantial and continuouscompetition for leadership with the experience and aptitude tomotivate and lead product, engineering, sales, G&A andoperationsteamswhoarefamiliarwiththetechnology industry.Our headquarters are located in the San Francisco BayArea,wherecompetitionforleadershipisparticularly intense.Further,ourbrandnameandsuccesseshavemadeouremployeesandexecutives more attractive as candidates for employment withother companies, and they are subject to significant ongoingrecruitingeffortsbyothercompaniesinthetechnologyindustry.We continue to invest in hiring key engineering roles andretaining talented employees to grow our business. Wecontinuedtoseereducedlevelsofattritionin2019,butweneedtocontinuetofocusonhiringandemployeeretentioninordertobe successful. We have also made, and intend to continue tomake, acquisitions that add engineers, designers, productmanagers and other personnel with specific technologyexpertise.Inaddition,we

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ExecutiveCompensationHighlights(continued)

• No Excise Tax Gross-Ups. WedonotprovideanyNamed ExecutiveOfficerwitha“gross-up”orotherreimbursement paymentforanytaxliabilitythatheorshemightoweasa resultoftheapplicationofSection280G,4999,or409Aofthe InternalRevenueCodeof1986,asamended(the“Code”). • No Hedging or Pledging.Wecontinuetoprohibithedging againstandpledgingofoursecurities. • Clawback Policy.Wemaintainaclawbackpolicyforour executiveofficersprovidingthatifourfinancialstatements arerestated,wemayseektorecoverorcancelanycash-based incentiveorperformance-basedequitycompensationpaid orpayablethatwasawardedasaresultofachievingfinancial performancegoalsthatarenotmetundertherestated financialresults.


mustretainourhigh-performingpersonnelinordertocontinuetodevelop,sellandmarketourproductsandservicesandmanageourbusiness.

• Executive Background: Typically, we hire experiencedexecutiveswithspecific skills in keyfunctional areaswhohaveworked in an environment similar to ours. The number ofexecutives with the most desirable experience is relatively lowand proven executives are difficult to find. We have expandedour recruiting efforts both geographically and into otherindustries and sectors, which leads to increased complexityinrecruitingeffortsandhasrequiredustobemoreflexiblewithourexecutivecompensationpackages.

Compensation Goals.Toexecuteonourstrategy,wemustattractandretainexpertemployeesandexecutiveswhoareagileenoughto quickly innovate on our business strategy, constantly enhanceour product offerings and be cutting edge leaders in undefinedspaces like safety and abuse. Our executive compensationprogramisdesignedtohelpusrealizetheseobjectives.

Specifically,thegoalsofourexecutivecompensationprogramareto:

• recruit, incentivize, and retain talented individuals who candevelop, implement and deliver on long-term value creationstrategies;

• promote a healthy approach to risk by reinforcing our values,which serve to motivate our executives to deliver the highestlevelofcompany,team,andindividualperformance;

• providemeaningfullong-termincentivestoalignthe interestsofourexecutiveofficerswiththoseofourstockholders;and

• providecompetitivecompensationpackagesthatarefairrelativetopeersandalignedtothemarket.

Compensation Approach in 2019. Our compensation committeeevaluated a number of factors in making decisions about ourexecutivecompensationprogram,includinginputfromCompensia,management, and stockholders (including the over 97% supportwe received from our stockholders in our 2019 stockholderadvisory vote on executive compensation). Following thisevaluation, the committee determined not tomakeanysignificantchangestoourcompensationprogramsfor2019.

• BaseSalary:For2019,ourcompensationcommittee increasedthe base salaries of Ms. Gadde and Messrs. Derella,Montanoand Segal as a result of our annual compensation review.Despite the increases, cash compensation remainedmeaningfully below market, consistent with our historicalemphasis on fostering an ownership culture. At his ownrecommendation to the compensation committee, Mr. Dorseyelectedtoforegoanycompensationfor2019otherthanabasesalaryof$1.40.

• Performance-BasedCashCompensation:OurNamedExecutiveOfficers did not participate in our broad-based short-termincentive plan in 2019. As a result, target total cashcompensation for our Named Executive Officers was belowmarketcomparedtoourcompensationpeers.

• EquityCompensation: Our executive compensation program isheavily weighted towards equity compensation. To promote apay-for-performance culture and respond to the feedback wereceived from investors during outreach efforts, ourcompensation committee chose to generally continue using aportfolioapproachwhengrantingequityawards,primarilyintheform of time based RSUs and performance-based RSUs(“PRSUs”).

WegrantacombinationofPRSUsbasedonabsoluteandrelativemeasures. In 2019, our compensation committee chose to useRevenue and Operating Income as the one-year companyperformance goal, and Total Shareholder Return (“TSR”) as thetwo-yearperformancegoaltoprovideincentivesforachievingbothabsolute and relative performance over both the short and longterm horizon. The TSR component is tied to the Nasdaq InternetIndex in order to align us to our compensation peers. Each yearthe compensation committee approves the weighting of theabsoluteandrelativemeasurestodeterminethenumberofPRSUsallocated to each performance goal. The absolute measures(RevenueandOperatingIncomeperformancegoals)areweighted60%andtherelativemeasure(TSRperformancegoal)isweighted40%. In 2019, we replaced Adjusted EBITDA with OperatingIncome for the company performance goal in order to bring ourcurrent plan design in better alignment with market practice, howweplanandgiveguidance,andshareholderexpectations.

ForpurposesofourPRSUs:

“Revenue”isdefinedasourGAAPrevenues,asmaybeadjustedforcertainacquisitionsduringthespecifiedperformanceperiod.

“Operating Income” is defined as net income (loss) adjusted toexcludeinterestandotherexpenses,provision(benefit)forincometaxes and restructuring charges, but excluding recorded costsresultingfromanybusinessacquiredbyus(otherthanacquisitionswith a total deal consideration as approved by the board ofdirectors or one of its committees and set forth in a definitiveagreement (not including new stock based awards granted totarget’scontinuingemployees)oflessthan$20million)duringthespecifiedperformanceperiod.

“Total Shareholder Return or TSR” is defined as (a) (i) our sharepriceattheendofperiod(December31,2020)minus(ii)ourshareprice at the start of period (January 1, 2019) divided by (b) ourshare price at the start of period (January 1, 2019). This rate ofreturn, loss or breakeven is then measured against theperformanceoftheNasdaqInternetIndexduringthesameperiodand using the samemethodology and compared against our pre-established target levels as described above to determine theachievementoftheperformancegoal.

• Changeof Control andSeveranceBenefits: Webelieve that toproperly motivate and incentivize our executive team in theevent of a change of control and to the possibility of aterminationwithout“cause”oraterminationwith“goodreason,”astandardized“doubletrigger”changeofcontrolandseverancepolicyiscritical.Thematerialtermsofthese

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arrangements are set forth in “Executive Compensation—Compensation Tables—Potential Payments Upon TerminationorChangeofControl”below.

• Clawback Policy: We believe that it is important to foster andmaintain a culture that emphasizes integrity andaccountability.Forthisreason,wemaintainaclawbackpolicythatprovidesthecompensationcommitteetheability torecovercertainincentivecompensation paid or payable to an executive officer in theeventofamaterialrestatementofalloraportionofourfinancialstatements caused by or partially caused by the executiveofficer’s misconduct, as described in greater detail under the“ClawbackPolicy”sectionbelow.

OurInvestorOutreachProgram

We value the feedback of our stockholders. Following our 2019annual meeting of stockholders, we continued to engage ourinstitutionalstockholderstobetterunderstandtheirperspectivesonour executive compensation practices and related governancetopics. In 2019, our management team reached out to our topinstitutional investors as noted in our Executive CompensationHighlights. This effort supplemented ongoing communicationsbetweenourmanagementandstockholdersregardingourfinancialperformance, and expanded upon the outreach to stockholdersprior to and in connection with our 2019 annual meeting ofstockholders.Ourobjectivesweretogainabetterunderstandingofstockholders’ viewsonour executive compensation practices andon executive compensation best practices generally, as well asrelated governance topics. The Twitter participants in thesemeetings included members of our compensation, legal,operations, and investor relations teams, as well as our LeadIndependent Director in several meetings. The compensationcommitteeandtheboardofdirectorsarecommittedtomaintaininga pay-for-performance alignment in our executive compensationprograms and will continue to solicit feedback from ourstockholdersregardingourprogramsandpractices.

ChangestoourExecutiveCompensationProgramsfor2020

Weevaluateour executivecompensation programs, includingourmix of cash and equity compensation, on an annual basis. Ourcompensation committee has made changes to further align andstrengthen these programs to our stated goals of the executivecompensation programs that will go into effect in 2020. Changesinclude:

• Moving froma salary and equity only approach to a traditionalpay mix approach comprising salary, bonus, and equity. Thebonusprogramwillbefocusedonshort-termperformancewhiletheequityprogramwill befocusedon longer-termperformanceandretention.

• Moving from an annual vesting value approach to a uniform50/50 mix of RSU and PRSU awards using a grant date fairvalueapproach.

• Movingfromahighlyindividualizedvestingscheduletoa4-yearstandardvestingscheduleforourRSUawards.

• Enhancing our equity program to focus on longer-termperformance and retention. Specifically, we are (i) revising thefinancial PRSU award to maintain the 1-year performanceperiod but vest the award annually over 3-years instead of thecurrentimmediatepayoutattheendoftheperformanceperiod,and (ii) revising the TSR PRSU award from a 2-yearperformance period with immediate payout to a 3-yearperformanceperiodwithimmediatepayout.

2019 “Say-on-Pay” Advisory Vote to Approve ExecutiveCompensation

At last year’s annual meeting of stockholders held in May 2019,over97%ofthevotescastonoursay-on-payproposalwerecastin favor of the compensation of the NamedExecutive Officers onan advisory basis. In 2019, the compensation committeeconsideredtheresultsofthe“say-on-pay”voteasonefactorwhenmaking its executive compensation decisions during 2019,includingcontinuingthephase-inofourperformance-basedequityawardsinordertoremainmarketcompetitiveandpromotefurtheralignment between the interests of our executives and ourstockholders.

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Elements of Pay and 2019 Compensation Decisions

Ourexecutivecompensationprogramiscomprisedofthreeprimarycomponents,listedinorderofimportancetous:

PAY COMPONENT OBJECTIVE BENEFIT TO STOCKHOLDERS

Equity Compensation Providesalong-termincentiveforexecutivestofocusonstockholdervaluecreation Vestingscheduleencouragesretention Performance-basedgrantsencouragepayforperformance

Valueattimeofvestingisbasedonlong-termgrowthofTwitter’sstockpriceand/or,inthecaseofperformance-basedgrants,meetingbothabsoluteandrelativeobjectivesofthecompany • 60%basedonabsolutemetrics -30%Revenue -30%OperatingIncome • 40%basedonTSRrelativeto NasdaqInternetIndex


Webelievethatawardingasignificantportionofpayintheformofcompensationthatisdirectlylinkedtoourstockpricemotivatesourexecutive team to focus on growing our business over the longterm and aligns our executives’ interests with those of ourstockholders.Wedonotusespecificformulasor

weightings in determining the allocation of the various payelements; rather, each Named Executive Officer’s compensationhasbeenindividuallydesignedtoprovideacombinationofat-riskand fixed compensation that is tied to achievement of Twitter’sshortandlong-termobjectives.

For2019,themajorityofthecompensationopportunitiesforeachof our executive officers, including each of our Named ExecutiveOfficers,wasdeliveredthroughRSUandPRSUawards.Astheseawards have value to the recipient even in the absence of stockprice appreciation, these awards help us retain and incentivizeemployeesduringperiodsofmarketvolatility,andalsoresultinourgrantingfewersharesofcommonstockthanthroughstockoptionsof equivalent grant date fair value. In addition to the initial equitygrantthateachexecutiveofficerreceivesaspartofhisorhernewhire package, the compensation committee may grant ourexecutiveofficers additional equity awardseachyearasbusinessneeds dictate given the nature of our rapidly changing business.Historically, whendeterminingthenumberofsharessubject toanequitygranttoissueunderbothnewhireandongoingawards,weassess the value of the awards based on a variety of potentialfuturestockpricestoattempttomitigatetheriskofmaterially

over-compensating our executives if our stock price increasessignificantly. We also factor in the weighting of the split betweenRSUs and PRSUs based on our phase in approach ofperformance-based equity over time. Awards that have beengranted to our executive team, including our Named ExecutiveOfficers,havebeendeterminedbasedonourboardofdirectors’orcompensation committee’s business judgment regarding theappropriatelevelofcompensationforthepositionascomparedtothose in our compensation peers or those companies that weconsider direct competitors for talent; the critical nature of theposition and the anticipated potential future impact; the size ofeachexecutive’sbasesalaryduetothefactthatwedonothaveacashbasedbonusprogramforourexecutives;andthevestedandunvestedequityheldbyexecutives.Onoccasion,weissueoptionstopurchasesharesofTwitterstocktoincentivizethoseexecutiveswhohaveadirectimpactonourfinancialgrowth.

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PAY COMPONENT OBJECTIVE BENEFIT TO STOCKHOLDERS

Base Salary Providesameasureofstablefixedcompensationforperformanceofday-to-dayservices Amountreflectsindividual’sperformanceandscopeofresponsibilities,aswellasthecompetitivemarketforexecutivetalent

Ourbasesalarylevelsremaincomparativelylowbutarestillatlevelsthatarecompetitivetohelpusattractandretaintalentedexecutives

Benefits and Perquisites Providesforthehealthandwelfareofourexecutivesandtheirfamilies,forprotectionfromunexpectedloss,aswellastheopportunitytosaveforretirement

Competitivebenefitshelpusattractandretaintalentedexecutives

Thefollowingchartsetsforththerelativeweightof2019compensationattributabletoequitycompensationandbasesalaryforourNamedExecutiveOfficersonaverageasagroup(excludingourCEOwhodeclinedallcompensationotherthanabasesalaryof$1.40).

EquityCompensation.


Wecontinuetoreviewotherequitycompensationdesignsthatmaymore closely align our compensation practices with ourcompensationpeersandmarketpractice.

2019 Equity Grants.

Jack Dorsey. Mr. Dorsey declined all equity compensation for2019.

Ned Segal. We granted Mr. Segal a total of 139,000 PRSUs attarget,ofwhich(i)83,400PRSUsweretiedtoour2019fiscalyearperformanceperiod(RevenueandOperatingIncomeperformancegoals) and (ii) 55,600 PRSUs were tied to our 2019-2020 fiscalyearperformanceperiod(TSRperformancegoal).

Vijaya Gadde.WegrantedMs.Gaddeatotalof172,000PRSUsattarget, of which (i) 103,200 PRSUs were tied to our 2019 fiscalyear performance period (Revenue and Operating Incomeperformancegoals)and(ii) 68,800PRSUsweretiedtoour2019-2020fiscalyearperformanceperiod(TSRperformancegoal).

Matthew Derella.WegrantedMr.Derellaatotalof40,000PRSUsat target, of which (i) 24,000 PRSUs were tied to our 2019fiscalyear performance period (Revenue and Operating Incomeperformancegoals)and(ii) 16,000PRSUsweretiedtoour2019-2020fiscalyearperformanceperiod(TSRperformancegoal).

Michael Montano. We granted Mr. Montano a total of 105,000PRSUsattarget,ofwhich(i)63,000PRSUsweretiedtoour2019fiscal year performance period (Revenue and Operating Incomeperformancegoals)and(ii) 42,000PRSUsweretiedtoour2019-2020fiscalyearperformanceperiod(TSRperformancegoal).

RSUs.

Our RSU awards typically vest over a four-year period and webelievethattheyhelpincentivizeourexecutivestobuildvalue

that can be sustained over time. For more information relating tothegrantingoftheseRSUawards,includingthevestingschedules,see the section titled “Executive Compensation—CompensationTables—Grants of Plan-Based Awards in Fiscal Year 2019” tablebelow.

PRSUs.

We continued to use a portfolio approach when granting equityawardstoour NamedExecutiveOfficersin2019byalsograntingPRSUs. The PRSUs are eligible to vest based upon ourachievement of certain performance targets over a one-year ortwo-yearperformanceperiod.Thecompensationcommitteesettheperformance targets for the performance period early in the firstquarter of 2019 and assessed achievement against the one-yearperformancetargetsinFebruary2020.For2019,thecompensationcommitteechoseaone-year performanceperiodfor theRevenueand Operating Income performance goals and a two-yearperformance period for the TSR performance goal to assess theimpact of the plan on performance. We intend to reassess theperformancegoalsandperformanceperiodinfutureyears.

For more information relating to the granting of these PRSUawards, including the vesting schedules, see the section titled“Executive Compensation—Compensation Tables—Grants ofPlan-BasedAwardsinFiscalYear2019”tablebelow.

The compensation committee believed that these performancegoalsandtherelativeweightingofthesegoalsasdescribedbelowwere appropriate to drive executive performance in achievingcertain annual corporate performance goals that further ourstrategy and that are used by investors to evaluate our financialperformance. No vesting of the PRSUs would occur until aminimumperformancethresholdwasachievedandthePRSUshadamaximumvestingpayoutcappedat2xtargetoutlinedbelow.

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MEASURE WEIGHTINGPERFORMANCE

PERIOD

0% MINIMUM PAYOUT

100% TARGET PAYOUT

200% MAXIMUM PAYOUT

ACTUAL PERFORMANCE

ACTUAL VESTING

Revenue 30% Fiscalyear2019

<=$3,042million $3,470million >=$4,107million

$3,459million 100%

OperatingIncome(beforeshorttermincentivetargetandPRSUexpense)

30% Fiscalyear2019

<=$134million $510million >=$1,071million

$507million 100%

TSR(1) 40% Fiscalyear2019-2020

<=(33%)vs.Nasdaq

InternetIndex

EqualsNasdaq

InternetIndex

>=50%vs.Nasdaq

InternetIndex

N/A N/A

The TSR measure Actual Performance target and Actual Vesting cannot be determined until the end of the performance period(January1,2019–December31,2020).

Thepayoutsatlowerperformancethresholdsaresubjecttoalowerproportionalreturncomparedtoresultsathigherperformancethresholds.


(1)

(2)

The following tables set forth the total PRSUs granted to ourNamed Executive Officers (i) at threshold, target and maximumawardlevelsforthe2019fiscalyearperformanceperiod(Revenueand Operating Income performance goals) and the 2019-2020fiscalyearperformanceperiod(TSRperformance

goal)and(ii)theactualnumberofPRSUsthatvestedasaresultofour performance against our targets for the 2019 fiscal yearperformance period for our Revenue and Operating Incomeperformancegoals:

Base Salary. Historically, the salaries of our executive team,including our Named Executive Officers, have remained belowcompetitive market levels. We have on occasion graduallyincreased the base salaries for our executive team, including ourNamed Executive Officers, to market competitive levels. In 2019,weincreasedthesalariesofourNamedExecutiveOfficers(exceptforMr.Dorsey),althoughcashcompensationremainsmeaningfullybelowmarket.

The following table shows the annualized base salary rates ineffectfor2019:

NAME2019 BASE

SALARY RATE ($)

JackDorsey 1.40

NedSegal 600,000

VijayaGadde 600,000

MatthewDerella 600,000

MichaelMontano 600,000

Benefits. Our executive officers, including the Named ExecutiveOfficers,participateinthesamebenefitsplansandprogramsasallother Twitter employees in the same geographies where suchexecutiveofficersarebased.Theseplansincludemedical,dental,and vision care plans, flexible spending accounts for health anddependent care, life, accidental death and dismemberment,disability, and travel insurance, employee assistance programs,employeestockpurchaseplanandpaidtimeoff.

In addition, we maintain a tax qualified 401(k) retirement savingsplanthat contains both apre-tax andanafter-tax savingsfeaturefor the benefit of eligible U.S. employees, including our NamedExecutive Officers. Weprovidea discretionary matchof $0.50forevery dollar an employee contributes up to a maximumcompanycontribution of $3,000. We believe that a company contributionencourages all eligible U.S. employees to contribute to long-termretirement savings. All 2019 contributions were fully vested as oftheirrespectivecontributiondatesandaredeductiblebyus.

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NAMED EXECUTIVE OFFICER(1)

PRSU GRANT FOR 2019

REVENUE / OPERATING

INCOME PERFORMANCE

GOALS (AT THRESHOLD)

PRSU GRANT FOR2019

REVENUE / OPERATING

INCOME PERFORMANCE

GOALS (AT TARGET)

PRSU GRANT FOR 2019

REVENUE / OPERATING

INCOME PERFORMANCE

GOALS (AT MAXIMUM)

PRSU GRANT FOR 2019

REVENUE / OPERATING

INCOME PERFORMANCE

GOALS (ACTUAL)

JackDorsey — — — —

NedSegal 0 83,400 166,800 83,400

VijayaGadde 0 103,200 206,400 103,200

MatthewDerella 0 24,000 48,000 24,000

MichaelMontano 0 63,000 126,000 63,000Mr.Dorseydeclinedallequitycompensationin2019.

NAMED EXECUTIVE OFFICER(1) (2)

PRSU GRANT FOR 2019-2020

TSR PERFORMANCE

GOAL (AT THRESHOLD)


TSR PERFORMANCE

GOAL (AT TARGET)


TSR PERFORMANCE

GOAL (AT MAXIMUM)


TSR PERFORMANCE

GOAL (ACTUAL)

JackDorsey — — — —

NedSegal 0 55,600 111,200 N/A

VijayaGadde 0 68,800 137,600 N/A

MatthewDerella 0 16,000 32,000 N/A

MichaelMontano 0 42,000 84,000 N/AMr.Dorseydeclinedallequitycompensationin2019. The actual performance for the PRSU grant for the 2019-2020 fiscal year performance period (TSR performance goal) cannot bedetermineduntiltheendoftheperformanceperiod(January1,2019–December31,2020).


(1)

(1)

(2)

Perquisites. Consistent with the practices of many companies inourpeergroup,inthepastwehaveprovidedlimitedperquisitestoourexecutiveofficers. In2019wedidnot provideanyperquisitestoourNamedExecutiveOfficers.

Our Compensation-Setting Process

Wehavebeenundergoingaperiodof rapidgrowth, developmentandchangeasapubliccompanyinahighlycompetitivebusinessand technological environment that dictates that we consider anumber of factors in determining individual compensationarrangements with executives, including our Named ExecutiveOfficers,atthetimewehirethem,including:

• ourneedtofillaparticularposition;

• ourfinancialpositionandgrowthdirectionatthetimeofhiring;

• theindividual’sexpertiseandexperience;

• thecompetitivenatureinhiringfortheposition;and

• the challenges discussed in the section titled “ExecutiveCompensation—Compensation Discussion and Analysis—ExecutiveSummary”above.

Role of Our Compensation Committee. Our compensationcommittee is composed entirely of independent directors, and isresponsible for overseeing our executive compensation program.Our compensation committee approves ongoing compensationarrangements for our executive officers, including our NamedExecutive Officers (other than our CEO) and makesrecommendationstothefullboardofdirectorsregardingourCEO’scompensation. In determining compensation for our NamedExecutive Officers, our compensation committee considersnumerousfactors,including:

• recommendations of our CEO and other management (asdescribedbelow);

• the individual achievement of each executive officer,compensation peer and competitive market data (as describedbelow);

• theexperienceandcontributionsofourexecutiveofficerstoourkeybusinessobjectives;and

• internal pay equity based on the impact on our business andperformance.

There is no predetermined formula for weighting these factors.Instead, our compensation committee considers all of thisinformation in light of our business objectives. Our compensationcommittee operates under a written charter adopted approved byour board of directors. The charter is available on our website athttps://investor.twitterinc.com.

Role of Management. Our CEO, together with senior HRmanagement,reviewsourexecutivecompensationpractices

againstourcompensationpeers(describedbelow),competitorsfortalentandmarketdata.Atthecompensationcommittee’srequest,our CEO then makes recommendations for target compensationopportunities for executive officers (other than himself). Ourcompensation committee believes that our CEO’s input for thecompensationopportunitiesishighlyvaluablebecauseofhisdailyinvolvementwiththeothermembersofourexecutiveteamandourbusiness. No executive officer participates directly in the finaldeliberations or determinations regarding his or her owncompensation package. Our senior management team alsoprovides input on, and helps negotiate, initial compensationpackages for our newly hired executives. Our compensationcommittee seeks input from senior management during theprocessofsearchingforandnegotiatingcompensationpackages,withnewseniorlevelhiresandcoordinateswithourChiefFinancialOfficer and Chief Accounting Officer in determining the financialand accounting implications of our executive compensationprograms and hiring decisions. Our CEO, Mr. Dorsey, requestedand our board of directors approved that he forego allcompensationfor2019otherthanabasesalaryof$1.40.

Role of the Compensation Consultant. Our compensationcommitteehastheauthoritytoengageitsownadvisorstoassistincarrying out its responsibilities. In 2019, our compensationcommittee engaged with Compensia on matters relating to ourcompensation peers selection as well as to provide support andspecificanalyseswithregardtocompensationdataandformulationof recommendations for executive compensation. Based on theconsideration of the factors specified in the rules of the SECandthelisting standards of NYSE, our compensation committee doesnot believe that its relationship with Compensia and the work ofCompensia on behalf of the compensation committee raises anyconflict of interest. The compensation committee periodicallyreviews the need to independently retain a compensationconsultant.

Use of Comparative Market Data. Each year our compensationcommittee reviews, with assistance from Compensia and inputfrommanagement,thecurrentcompensationpeersalongwiththeselection criteria for applicability in making the next year’scompensation decisions. In determining which companies shouldbe in the peer group, our compensation committee consideredcompaniesthatmetsomeorallofthefollowingcriteria:(i)software(primary)andbroadtechnology(secondary)companieslocatedinthe United States; (ii) had revenues between one half (0.5x) andtwoandonehalf(2.5x)timesoursizeinrevenue;(iii)hadamarketcapitalization of one third (0.3x) to three (3.0x) times our marketcapitalization;and(iv)apreferenceforcompanieswithhighgrowthand high market capitalization to revenue multiples. We alsoconsider cash and equity compensation data for Facebook as areference peer, given that wedirectly compete for key talent withFacebook.

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Our compensation committee intends to continue to review ourcompensationpeersandtheunderlyingcriteriaannuallytoassesswhether it remains appropriate for review and comparisonpurposes. Wealsoparticipate insurveysof market compensationpractices in our industry and broadly across all industries, andundertake specialized studies of competitive market practicesusing the most relevant published survey sources and publicfilings.

When determining 2019 executive officer compensationopportunities, management presented information to thecompensation committee based on compensation peers andmarketsurveydata. Ourcompensationcommitteeconsideredthisinformation in making its decision but did not engage in strictbenchmarking to a fixed percentile. Instead, our compensationcommittee, taking into consideration the factors described above,relied on the business experience of its members and on therecommendationsofmanagementtocraftcompensationpackagesappropriateforourparticularexecutives.Webelievethatthe2019total target compensation opportunities of our executive officers,including our Named Executive Officers, were competitive withmarket practices for similarly situated executives of ourcompensationpeers.

Other Compensation Information

EmploymentArrangements. EachofourNamedExecutiveOfficershas entered into a written, at-will employment offer letter with us.For a summary of the material terms and conditions of theseemployment offer letters, see the section titled “ExecutiveCompensation—Compensation Discussion and Analysis—OtherCompensation Information—Executive Officer EmploymentLetters.”

Post-Employment Compensation. Each of our Named ExecutiveOfficers participates in our Change of Control and InvoluntaryTermination Protection Policy (the “Severance Policy”), whichprovides standardized payments and benefits to the NamedExecutiveOfficersintheeventofaterminationwithout“cause”byTwitterorterminationfor“goodreason”bytheparticipant,whetheror not in connection with a change of control, to make thesebenefits consistent among the executives who have thesearrangements. Our compensation committee approves all planparticipants and the level of benefit applicable to each planparticipant.Webelievethatthe

change of control benefits in the Severance Policy assist tomaximize stockholder value and maintain executive focus in theimmediate period prior to, during and after the change of controlevent.

The material terms of these post-employment arrangements areset forth in “Executive Compensation—Compensation Tables—Potential Payments Upon Termination or Change of Control”below.

Clawback Policy. We believe that it is important to foster andmaintainaculturethatemphasizesintegrityandaccountability.OurClawbackPolicypermitsthecompanytorequirethatanycurrentorformerofficerofthecompanywhois(orwas)subjecttoSection16of the Exchange Act, repay certain cash-based incentivecompensation or performance-based equity compensation to thecompany if the compensation committee determines that suchparticipant’s actions caused or partially caused the company torestate all or a portion of its financial statements within thethree-year period from the original filing date of the restated financialstatements. If the compensation committee determines that anysuch cash-based incentive compensation or performance-basedequity compensation would have been less had they beencalculated based on the restated results, and further determinesthatfraud,grossnegligence,orintentionalmisconductbyanysuchparticipantcausedorpartiallycausedsuchrestatementanditisinourbestintereststorecoverall oraportionoftheexcessamountof cash-based incentive compensation or performance-basedequity compensation received (or to be received) by suchparticipant, thecompensationcommitteemayseektorecover thedifference between the amounts awarded or paid (or to beawardedorpaid)andtheamountsthatwouldhavebeenawardedorpaidbasedontherestatedresults.

WhentheSECadoptsfinalclawbackpolicyrulesundertheDodd-Frank Wall Street Reform and Consumer Protection Act, we willreviewandmayreviseourClawbackPolicytotheextentrequiredtocomplywithsuchrules.

Accounting Treatment. We recognize a non-cash charge toearnings for accounting purposes for equity awards. We expectthatourcompensationcommitteewillcontinuetoreviewand

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BasedonthecompensationpeercriteriaandinputfrommanagementandCompensia,thecommitteedeterminedthefollowingcompanieswouldmakeupthecompensationpeergroupfor2019decisions:

Autodesk,Inc. ServiceNow,Inc. VMWare,Inc.

ElectronicArtsInc. SnapInc. Workday,Inc.

IntuitInc. SplunkInc. YelpInc.

MatchGroup,Inc. Square,Inc. ZillowGroup,Inc.

PaloAltoNetworks,Inc. SymantecCorporation

RedHat,Inc. TripAdvisor,Inc.


consider the accounting impact of equity awards in addition toconsideringtheimpactfordilutionandoverhangwhendecidingtheamountsandtermsofequitygrants.

Deductibility of Executive Compensation. Code Section 162(m)maylimittheamountthatwemaydeductfromourfederalincometaxes for compensation paid to certain of our current or formerexecutive officers who qualify as “covered employees” within themeaning of Code Section 162(m) to one million dollars perexecutiveofficerperyear.

While we are mindful of the benefit of the full deductibility ofcompensation,webelievethatweshouldnotbeconstrainedbytherequirements of Code Section 162(m) where those requirementswouldimpairourflexibilityincompensatingourexecutiveofficersina manner that can best promote our corporate objectives.Therefore,wehavenotadoptedapolicythatwouldrequirethatallcompensation be deductible, though we do consider thedeductibility of compensation when making compensationdecisions.Wemayauthorizecompensationpaymentsthatarenotfully tax deductible if we believe that such payments areappropriate to attract and retain executive talent or meet otherbusinessobjectives.

TaxationofParachutePaymentsandDeferredCompensation. Wedo not provide, and have no obligation to provide, any executiveofficer,includinganyNamedExecutiveOfficer,witha“gross-up”orother reimbursement payment for any tax liability that he or shemightoweasaresultoftheapplicationofSection280G,4999,or409Aof the Code. Sections 280Gand 4999 of the Code providethat executive officers and directors who hold significant equityinterestsandcertainotherserviceprovidersmaybesubjecttoanexcisetaxiftheyreceivepaymentsorbenefitsinconnectionwithachange of control that exceed certain limits prescribed by theCode, and that the employer may forfeit a deduction on theamounts subject to this additional tax. Section 409A of the Codealso may impose significant taxes on a service provider in theeventthatheorshereceivesdeferredcompensationthatdoesnotcomply with the requirements of Section 409A of the Code. WehavestructuredourcompensationarrangementswiththeintentionofcomplyingwithorotherwisebeingexemptfromtherequirementsofSection409AoftheCode.

Hedging and Pledging Policies. We have established an InsiderTradingPolicy,whichappliestoallofouremployeesanddirectors,and among other things, prohibits short sales, engaging intransactionsinpublicly-tradedoptions(suchasputsandcalls)andother derivative securities relating to our common stock. Thisprohibitionextendstoanyhedgingorsimilartransactiondesignedto decrease the risks associated with holding our securities. Inaddition, our Named Executive Officers are prohibited frompledging any of our securities as collateral for a loan and fromholdinganyofoursecuritiesinamarginaccount.

Executive Officer Employment Letters.

Jack Dorsey. We entered into an executive employment letterdatedJune11,2015withMr.Dorsey,ourChiefExecutiveOfficer.Theletterhasnospecifictermandprovidesforat-willemployment.

Ned Segal.WeenteredintoanexecutiveemploymentletterdatedJuly11,2017withMr.Segal,ourChiefFinancialOfficer.Theletterhasnospecifictermandprovidesforat-willemployment.

Vijaya Gadde. We entered into an executive employment letterdatedOctober1,2013withMs.Gadde,ourChiefLegalOfficerandSecretary. The letter has no specific termand provides for at-willemployment.

Matthew Derella. We entered into an employment letter datedOctober 1, 2012withMr. Derella, ourCustomersLead. Theletterhasnospecifictermandprovidesforat-willemployment.

Michael Montano. We entered into an employment letter datedJune20,2011withMr.Montano,ourEngineeringLead.Theletterhasnospecifictermandprovidesforat-willemployment.

Compensation-RelatedRisk.

WeengagedCompensiatocompleteariskreviewofouremployeecompensation policies and practices in which our employees(includingourexecutiveofficers)participate,todeterminewhetherthese policies and practices have any features that might createundue risks or encourage unnecessary and excessive risk-takingthat could threaten our value. In the review, consideration wasgiventonumerousfactorsanddesignelementsthat manageandmitigaterisk, without diminishingtheeffect of theincentivenatureofcompensation,including,butnotlimitedto,thefollowing:

• acommission-basedincentiveprogramforsalesemployeesthatonly results in payout based on measurable financial orbusinesscriticalmetrics;

• ownership of a large percentage of our shares and equityawardsbyseniormanagement;and

• ourpracticeofawardinglong-termequitygrantsuponhiretoourexecutivesinorder todirectly tie theexecutive’sexpectationofcompensationtotheircontributionstothelong-termvalueofthecompany.

After reviewing the analysis performed by Compensia, weconcluded that any potential risks arising from our employeecompensation policies and practices, including our executivecompensation programs, are not reasonably likely to have amaterialadverseeffectonourcompany.

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CompensationCommitteeReportThecompensationcommitteehasreviewedanddiscussedwithmanagementtheCompensationDiscussionandAnalysisprovidedabove.Based on its review and discussions, the compensation committee recommended to the board of directors that the CompensationDiscussionandAnalysisbeincludedinthisproxystatementandTwitter’sAnnualReportonForm10-KfortheyearendedDecember31,2019.

Compensation CommitteeDavidRosenblatt(Chair)PatrickPichetteBretTaylor


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2019SummaryCompensationTable

NAME AND PRINCIPALPOSITION YEAR

SALARY($)(1)

BONUS ($)(2)

NON-EQUITY INCENTIVE PLANCOMPENSATION

($)(3)

STOCK AWARDS

($)(4)

ALL OTHER COMPENSATION

($)(5)

TOTAL COMPENSATION

($)

JackDorseyChief Executive Officer

2019 1.40 — — — — 1.40

2018 1.40 — — — — 1.40

2017 — — — — — —

NedSegal(6)Chief Financial Officer

2019 573,077 — — 5,530,462 3,000 6,106,539

2018 500,000 — — 4,460,054 3,000 4,963,054

2017 165,385 300,000 — 13,832,643 1,500 14,299,528

VijayaGaddeChief Legal Officer andSecretary

2019 573,077 — — 7,324,526 3,000 7,900,603

2018 498,077 — — 11,298,824 3,000 11,799,901

2017 500,000 — — 406,560 1,500 908,060

MatthewDerellaCustomers Lead

2019 573,077 400,000 — 5,764,700 3,000 6,740,777

2018 499,038 563,710 — 3,254,671 3,000 4,320,419

MichaelMontanoEngineering Lead

2019 532,692 — — 6,684,420 — 7,217,112

2018 325,769 — 270,200 17,612,977 — 18,208,946(1) At his own recommendation to the compensation committee and consistent with his compensation in 2018, Mr. Dorsey elected to

foregoanycompensationfor2019otherthanabasesalaryof$1.40.(2) Amounts disclosed in this column relate to (i) a sign-on bonus made to Mr. Segal as part of his new hire compensation package

pursuanttohisexecutiveemploymentletterdatedJuly11,2017,(ii)aone-timediscretionarypaymentmadetoMr.Derellain2019fornolonger beingeligible to participate in theIncentive CompensationPlanand(iii) commissionpayments madetoMr. Derella asaparticipantinthe2018IncentiveCompensationPlan.

(3) Amounts disclosedin this columnrelate to aperformancebonuspaidto Mr. Montanoin2018under our (non-executive) corporatebonusplan.Mr.Montano’sbonustargetwas40%ofhis2018basesalaryandthefinalpayoutamountwasdeterminedbasedontheachievement of companyandindividual performance measures of which 75%wereweighted onfinancial measures (RevenueandAdjustedEBITDA)(andachievedat193%oftarget)and25%wereweightedonindividualperformancemeasures(andachievedat193%oftarget).

(4) AmountsdisclosedinthiscolumnrelatetograntsofRSUsandPRSUsmadeunderour2013Plan.WithrespecttoeachRSUandPRSUgrant, theamounts disclosedgenerally reflect thegrant date fair valuecomputedin accordancewith FASBASCTopic 718.AmountsdisclosedinthiscolumnincludePRSUsunderthe2013Planatthetargetawardlevelforthe2019fiscalyearperformanceperiod (Revenue and Operating Income performance goals) and the 2019-2020 fiscal year performance period (TSRperformancegoal) as described in the section titled “Executive Compensation—Compensation Discussion and Analysis—Elements of Pay and2019CompensationDecisions—EquityCompensation”onpage40.GrantdatefairvalueforeachRSUandPRSUwasdeterminedbasedonassumptionsassetforthinNote14toourauditedfinancialstatementsincludedinourAnnualReportonForm10-KfortherespectiveyearsinwhichtheRSUsandPRSUsweregranted,anddonotreflectamountsactuallypaidto,orrealizedby,ourNamedExecutive Officers in 2019, 2018, or 2017. For further information on the RSU and PRSU grants made in 2019 (including thethreshold,target,maximumandactualawardlevel),seethesectiontitled“ExecutiveCompensation—CompensationTables—GrantsofPlan-BasedAwardsinFiscalYear2019”tablebelow.TheamountsreportedforthePRSUandTSRawardsassumetheprobableoutcomeoftheapplicableperformanceconditionsatthegrantdate(i.e.basedon100%oftargetlevelperformance).IfthePRSUandTSRawardswereinsteadvaluedbasedonthemaximumoutcomeof theapplicableperformancecondition(i.e. basedon200%oftarget level performance), the grant date fair value of PRSU and TSR awards granted in this column for 2019 would increase asfollows: Mr. Segal from $4,289,262 to $8,578,524; Ms. Gadde, from $5,307,576 to $10,615,152; Mr. Derella, from $1,234,320 to$2,468,640;andMr.Montano,from$3,240,090to$6,480,180.

(5) Amounts disclosed in this column include company contributions made to our Named Executive Officers’ 401(k) account, whichcontributionwasmadetoalleligibleemployeesgenerally.

(6) Mr.SegalwashiredinAugust2017andappointedasourChiefFinancialOfficer.Mr.SegalwasawardedRSUsandPRSUsaspartofhisnewhirecompensationpackage.


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CEOPayRatioThe 2019 annual total compensation of our CEO, Mr. Dorsey, was $1.40, and the 2019 annual total compensation of our mediancompensatedemployeewas$213,155. Accordingly, theratiooftheannualtotal compensationoftheCEOtoourmedianemployeewaslessthan0.001.

We determined our median compensated employee by examining the total taxable compensation in 2019 of all employees globally,includingthoseemployedonafull-time,part-time,seasonalortemporarybasisbythecompanyoranyofitsconsolidatedsubsidiaries,asof December 31, 2019, andthenconverted into U.S. dollars andannualizedfor thoseemployeeswhowerenot employedfor theentire2019 fiscal year as our consistently applied compensation measure. The total taxable compensation was determined from informationderivedfromtaxand/orpayrollrecords.Oncewedeterminedthemediancompensationemployeeusingthesemeasures,wecalculatedtheemployee’s2019annualtotalcompensationusingthesamemethodologythatisusedtocalculateourCEO’sannualtotalcompensationinthetableentitled“2019SummaryCompensationTable.”

ThepayratiodisclosurepresentedaboveisareasonableestimatecalculatedinamannerconsistentwithItem402ofRegulationS-Kunderthe Securities Act. Because the SEC’s final regulations for identifying the median employee, calculating annual total compensation anddeterminingthepayratioallowcompaniestousedifferentmethodologies,exemptions,estimatesandassumptions,ourpayratiodisclosuremaynotbecomparabletothatreportedbyothercompanies.

GrantsofPlan-BasedAwardsinFiscalYear2019Thefollowingtablesetsforthinformationregardinggrantsofplan-basedequityawardsmadetoourNamedExecutiveOfficersduringfiscalyear2019.Wedidnotgrantanyplan-basedcashawardsorstockoptionstoourNamedExecutiveOfficersduringfiscalyear2019.

NAME

GRANT DATE

ESTIMATED FUTURE PAYOUTS UNDER EQUITY INCENTIVE PLAN AWARDS

ALL OTHER STOCK

AWARDS: NUMBER OFSHARES OR

UNITS (#)

GRANT DATE FAIR VALUE OF STOCK AWARDS

($)(1)THRESHOLD

(#)TARGET

(#)MAXIMUM

(#)JackDorsey — — — — — —NedSegal 3/5/2019(2) 40,000 1,241,200

3/5/2019(3) 0 83,400 166,800 2,587,9023/5/2019(4) 0 55,600 111,200 1,701,360

VijayaGadde 3/5/2019(2) 0 65,000 2,016,9503/5/2019(3) 0 103,200 206,400 3,202,2963/5/2019(4) 0 68,800 137,600 2,105,280

MatthewDerella 3/5/2019(2) 0 146,000 4,530,3803/5/2019(3) 0 24,000 48,000 744,7203/5/2019(4) 0 16,000 32,000 489,600

MichaelMontano 3/5/2019(2) 0 111,000 3,444,3303/5/2019(3) 0 63,000 126,000 1,954,8903/5/2019(4) 0 42,000 84,000 1,285,200

(1) ReflectsgrantdatefairvalueofRSUsandPRSUscomputedinaccordancewithFASBASCTopic718.Assumptionsunderlyingthevaluationsareset forth in footnote 4totheSummaryCompensationTableabove. Theseamounts donot correspondtotheactualvaluethatmayberealizedbytheNamedExecutiveOfficers.

(2) Reflects the award of RSUs for such Named Executive Officers as described in the section titled “Executive Compensation—CompensationDiscussionandAnalysis—ElementsofPayand2019CompensationDecisions—EquityCompensation”onpage40.

(3) Reflects the award of PRSUs at the threshold, target and maximum award levels for the 2019 fiscal year performance period(Revenue and Operating Income performance goals) as described in the section titled “Executive Compensation—CompensationDiscussion and Analysis—Elements of Pay and 2019 Compensation Decisions—Equity Compensation” on page 40. Furtherinformationonthethreshold,target,maximum,andactualawardlevelachievementofthisPRSUawardaswellasdescriptionsoftheperformancegoalsforthisPRSUawardisfurtherdescribedinsuchsection.

(4) ReflectstheawardofPRSUsatthethreshold,targetandmaximumawardlevelsforthe2019—2020fiscalyearperformanceperiod(TSR performance goal) as described in the section titled “Executive Compensation—Compensation Discussion and Analysis—ElementsofPayand2019CompensationDecisions—EquityCompensation”onpage40.Furtherinformationonthethreshold,target,maximum,andactualawardlevelachievementofthisPRSUawardaswellasdescriptionsoftheperformancegoalsforthisPRSUawardisfurtherdescribedinsuchsection.


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OutstandingEquityAwardsat2019FiscalYear-EndThefollowingtable lists all outstandingequity awardsheldbyourNamedExecutiveOfficers asof December 31, 2019. Seethesectiontitled “Executive Compensation—Compensation Tables—Potential Payments Upon Termination or Change of Control” for informationregardingtheimpactofcertainemploymentterminationscenariosonoutstandingequityawards.

OPTION AWARDS STOCK AWARDS

NAMEGRANT DATE(1)

NUMBER OF SECURITIES

UNDERLYING UNEXERCISED

OPTIONS EXERCISABLE

(#)

NUMBER OF SECURITIES

UNDERLYING UNEXERCISED

OPTIONS UNEXERCISABLE

(#)

OPTION EXERCISE

PRICE ($)(2)

OPTION EXPIRATION

DATE

EQUITY INCENTIVE

PLAN AWARDS: NUMBER

OF UNEARNEDSHARES, UNITS OR

OTHER RIGHTS

THAT HAVE NOT

VESTED (#)

EQUITY INCENTIVE

PLAN AWARDS: MARKET

OR PAYOUTVALUE OF SHARES, UNITS OR

OTHER RIGHTS

THAT HAVE NOT

VESTED ($)(3)

JackDorsey 5/11/2011(4) 2,000,000 — 3.115 5/10/2021 — —

NedSegal 8/25/2017(5) — — — — 277,778 8,902,785

5/30/2018(6) — — — — 64,857 2,078,667

5/30/2018(7) — — — — 25,777 826,153

3/5/2019(8) — — — — 40,000 1,282,000

3/5/2019(9) — — — — 83,400 2,672,970

3/5/2019(10) — — — — 111,200 3,563,960

VijayaGadde 5/30/2018(11) — — — — 239,990 7,691,680

5/30/2018(12) — — — — 35,264 1,130,211

3/5/2019(13) — — — — 65,000 2,083,250

3/5/2019(14) — — — — 103,200 3,307,560

3/5/2019(15) — — — — 137,600 4,410,080

MatthewDerella 11/21/2016(16) — — — — 195,000 6,249,750

5/30/2018(17) — — — — 71,342 2,286,511

5/30/2018(18) — — — — 9,280 297,424

3/5/2019(19) — — — — 146,000 4,679,300

3/5/2019(20) — — — — 24,000 769,200

3/5/2019(21) — — — — 32,000 1,025,600

MichaelMontano 10/25/2016(22) — — — — 2,500 80,125

4/14/2017(23) — — — — 3,640 116,662

7/27/2017(24) — — — — 105,000 3,365,250

4/4/2018(25) — — — — 83,259 2,668,451

7/26/2018(26) — — — — 125,877 4,034,358

7/26/2018(27) — — — — 121,308 3,887,921

3/5/2019(28) — — — — 111,000 3,557,550

3/5/2019(29) — — — — 63,000 2,019,150

3/5/2019(30) — — — — 84,000 2,692,200(1) Eachoftheoutstandingequityawardswasgrantedpursuanttoour2007Planor2013Plan.(2) Theexercisepriceforstockoptionsgrantedwasthefairmarketvalueofashareofcommonstockonthedateofgrant.


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(3) ThiscolumnrepresentsthefairmarketvalueofthesharesofourcommonstockunderlyingtheRSUsandPRSUsasofDecember31,2019,basedontheclosingpriceofourcommonstock,asreportedontheNYSE,of$32.05pershareonDecember31,2019.

(4) AllofthesharesofcommonstocksubjecttothisoptionwerefullyvestedasofMay9,2015.(5) 250,000sharesof ourcommonstockunderlyingtheRSUsvestedonSeptember1, 2018and44,444sharesof ourcommonstock

underlying the RSUs vested on December 1, 2018; 25%of 222,222 shares of our common stock underlying the RSUs vested onMarch1,2019,andthenquarterlythereafterfortheremainingthreequarters;25%of138,889sharesofourcommonstockunderlyingtheRSUsvestedonMarch1,2020andthenquarterlythereafterfortheremainingthreequarters;and25%of138,889sharesofourcommonstockunderlyingtheRSUswillvestonMarch1,2021,andthenquarterlythereafterfortheremainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.

(6) 25%of43,238sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2021,andthenquarterlythereafterfortheremainingthreequarters; and25%of21,619sharesofourcommonstockunderlyingtheRSUswill vestonFebruary1,2022,andthenquarterlythereafterfortheremainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.

(7) PRSUsgrantedfor2018-2019performanceperiod(TSRperformancegoal)reportedattheactualpayoutlevel.(8) 25%of40,000sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2022,andthenquarterlythereafterforthe

remainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.(9) PRSUsgrantedfor2019performanceperiod(RevenueandOperatingIncomeperformancegoals)reportedattheactualpayoutlevel.(10) PRSUsgrantedfor2019-2020performanceperiod(TSRperformancegoal)reportedatthemaximumpayoutlevel.(11) 25%of162,162sharesofourcommonstockunderlyingtheRSUsvestedonFebruary1,2020,andthenquarterlythereafterforthe

remainingthreequarters;25%of51,885sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2021,andthenquarterlythereafterfortheremainingthreequarters;and25%of25,943sharesofourcommonstockunderlyingtheRSUswillvestonFebruary 1, 2022, and then quarterly thereafter for the remaining three quarters, subject to continued service through each suchvestingdate.


remainingthreequarters;25%of50,000sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2022,andthenquarterlythereafterfortheremainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.

(14) PRSUsgrantedfor2019performanceperiod(RevenueandOperatingIncomeperformancegoals)reportedattheactualpayoutlevel.(15) PRSUsgrantedfor2019-2020performanceperiod(TSRperformancegoal)reportedatthemaximumpayoutlevel.(16) 25%of70,000sharesofourcommonstockunderlyingtheRSUsvestedonFebruary1,2017,andthenquarterlythereafterforthe

remainingthreequarters; 25%of 95,000shares of our commonstockunderlying theRSUsvestedonFebruary 1, 2018, andthenquarterly thereafter for the remaining three quarters; 25%of 120,000 shares of our commonstock underlying the RSUsvested onFebruary1, 2019, andthenquarterly thereafter for theremainingthreequarters; and25%of195,000sharesof ourcommonstockunderlyingtheRSUswillvestonFebruary1,2020,andthenquarterlythereafterfortheremainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.

(17) 25%of47,561sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2021,andthenquarterlythereafterfortheremainingthreequarters; and25%of23,781sharesofourcommonstockunderlyingtheRSUswill vestonFebruary1,2022,andthenquarterlythereafterfortheremainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.


remainingthreequarters; and25%of65,000sharesofourcommonstockunderlyingtheRSUswill vestonFebruary1,2022,andthenquarterlythereafterfortheremainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.

(20) PRSUsgrantedfor2019performanceperiod(RevenueandOperatingIncomeperformancegoals)reportedattheactualpayoutlevel.(21) PRSUsgrantedfor2019-2020performanceperiod(TSRperformancegoal)reportedatthemaximumpayoutlevel.(22) 10,000 RSUs vesting ratably (6.25%) over 16 quarters with the first vest date on February 1, 2017, subject to continued service

througheachsuchvestingdate.(23) 3,640RSUsvestingratably(25%)overfourquarterswiththefirstvestdateonFebruary1,2020,subjecttocontinuedservicethrough

eachsuchvestingdate.(24) 25%of35,000sharesofourcommonstockunderlyingtheRSUsvestedonFebruary1,2018,andthenquarterlythereafterforthe

remainingthreequarters;25%of105,000sharesofourcommonstockunderlyingtheRSUsvestedonFebruary1,2019,andthenquarterlythereafterfortheremainingthreequarters;and25%of105,000sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2020,andthenquarterlythereafterfortheremainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.

(25) 33.33% of 8,127 shares of our common stock underlying the RSUs vested on May 1, 2018, and then quarterly thereafter for theremaining two quarters; 25% of 7,103 shares of our common stock underlying the RSUs vested on February 1, 2019, and thenquarterly thereafter for the remaining three quarters; 25% of 5,170 shares of our common stock underlying the RSUs vested onFebruary 1, 2020, and then quarterly thereafter for the remaining three quarters, 25% of 52,059 shares of our common stockunderlyingtheRSUswillvestonFebruary1,2021,andthenquarterlythereafterfortheremainingthreequarters,and25%of26,030sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2022,andthenquarterlythereafterfortheremainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.

(26) 25%of56,863sharesofourcommonstockunderlyingtheRSUsvestedonFebruary1,2020,andthenquarterlythereafterfortheremainingthreequarters,25%of50,350sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2021,andthenquarterlythereafterforthe


Pension Benefits

Asidefromour401(k)plan,wedonotmaintainanypensionplanorarrangement under which our Named Executive Officers areentitledtoparticipateorreceivepost-retirementbenefits.

Non-Qualified Deferred Compensation

Wedonotmaintainanynonqualifieddeferredcompensationplansor arrangements under which our Named Executive Officers areentitledtoparticipate.

Potential Payments Upon Termination or Change ofControl

All of our Named Executive Officers (other than Mr. Dorsey)participate in our Severance Policy, which provides standardizedpayments and benefits to the Named Executive Officers in theevent of an Involuntary Termination either in connection with aChangeof Control (“CIC”) or duringnormal courseof businessinordertomakethesebenefitsconsistentamongtheexecutiveswhohavethesearrangements.The

compensation committee approves all participants under theSeverance Policy and the level of benefit applicable to eachparticipant. In the case of a Change of Control event, we believethatthesearrangementsassisttomaximizestockholdervalueandmaintain executive focus in the immediate period prior to, duringand after the Change of Control event. We do not have anyrequirementtomakepaymentssimplybasedontheoccurrenceofa Change of Control (“single trigger” provisions). The SeverancePolicydoesincludea“double”triggerprovisionmeaningthatbothaChangeofControlandterminationofemploymentmustoccurforthe participant to receive the benefit. Thematerial termsof thesepost-employment arrangements are set forth below, but generallyeach of our Named Executive Officers who signs and does notrevokeourstandardseparationagreement andreleaseof claims,which currently includes non-solicitation, non-disparagement andconfidentiality conditions in connection with an InvoluntaryTermination of employment would be entitled to benefits, asspecified in the participation agreement between that eligibleemployee and Twitter, as follows: (i) a lump sum severancepaymentequalto100%ofsucheligibleemployee’sannualbase

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remainingthreequarters, and25%of18,664sharesofourcommonstockunderlyingtheRSUswill vestonFebruary1,2022,andthenquarterlythereafterfortheremainingthreequarters,subjecttocontinuedservicethrougheachsuchvestingdate.

(27) PRSUgrantedfor2018-2019performanceperiod(TSRperformancegoal)reportedattheactualpayoutlevel.(28) 25%of37,000sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2021,andthenquarterlythereafterforthe

remainingthreequarters;25%of37,000sharesofourcommonstockunderlyingtheRSUswillvestonFebruary1,2022,andthenquarterly thereafter for the remainingthreequarters; 25%of 37,000sharesof our commonstockunderlyingtheRSUswill vest onFebruary 1, 2023, and then quarterly thereafter for the remaining three quarters, subject to continued service through each suchvestingdate.

(29) PRSUsgrantedfor2019performanceperiod(RevenueandOperatingIncomeperformancegoals)reportedattheactualpayoutlevel.(30) PRSUsgrantedfor2019-2020performanceperiod(TSRperformancegoal)reportedatthemaximumpayoutlevel.

StockVestedin2019The following table sets forth the number of shares of common stock acquired during 2019 by our Named Executive Officers upon thevestingofRSUandPRSUawardsandthevaluerealizeduponsuchvesting. NostockoptionswereexercisedbyanyNamedExecutiveOfficerduring2019.

STOCK AWARDS

NAME

NUMBER OF SHARES

ACQUIRED ON VESTING (#)(1)

VALUE REALIZED

ON VESTING ($)(2)

JackDorsey — —

NedSegal 301,957 10,276,938

VijayaGadde 283,013 9,627,243

MatthewDerella 217,446 7,712,327

MichaelMontano 222,024 7,490,078(1) Reflectstheaggregatenumberofsharesofcommonstockunderlying(i)RSUawardsthatvestedin2019and(ii)PRSUsunderthe

2013Planearnedfor the2017-2018fiscal yearperformanceperiod(TSRperformancegoal) andthe2018fiscal year performanceperiod(RevenueandAdjustedEBITDAperformancegoals)thatvestedin2019.OfthenumberofsharesofcommonstockshownforMessrs.Segal,Derella,andMontanoandMs.Gadde,144,975,111,468,105,778and135,770,respectively,werewithheldorsoldtopaytaxesdueinconnectionwiththevesting.

(2) Calculatedbymultiplying(i)thefairmarketvalueofcommonstockonthevestingdate,whichwasdeterminedusingtheclosingpriceontheNYSEofashareofcommonstockonthedatepriortothedayofvesting,orifsuchdayfallsonaweekendorholiday,ontheimmediately precedingtradingday, by(ii) thenumberof sharesof commonstockacquireduponvesting. Oftheamount shownforMessrs.Segal,DerellaandMontanoandMs.Gadde,$5,327,467,$3,744,002,$3,920,345and$4,996,312,respectively,representsnetproceedsaftershareswithheldorsoldfortaxes.


salary in connection with a Change of Control, and a lump sumseverance payment equal to 100% of such eligible employee’sannual base salary not in connection with a Change of Control,(ii)paymentforupto12monthsundertheConsolidatedOmnibusBudget Reconciliation Act of 1985 (“COBRA”) premiums tocontinuehealthinsurancecoverageforsucheligibleemployeeandhis or her eligible dependents that were covered under ourhealthcare plan in connection with a Change of Control, and6 months of such premiums upon a qualifying employmenttermination not in connection with a Change of Control, and(iii)accelerationofvestingof50%(or100%inthe

case of our CFO) of the shares underlying all unvested equityawards held by such eligible employee immediately prior to suchInvoluntary Termination in connection with a Change of Control,and at least 12.5% for all eligible employees for a qualifyingemployment termination not in connection with a Change ofControl. The compensation committee reviews the equityaccelerationpercentageforeachparticipantandwilladjustasandwhennecessarytoalignwithpeercompanypractices.Mr.DorseydeclinedtoparticipateinourSeverancePolicy.

“Involuntary Termination” means a termination of employment byTwitterotherthanforCause,deathordisabilityoraterminationofemploymentbytheemployeeforGoodReason.

“GoodReason”meansterminationofemploymentwithinthirty(30)days following the “notice and cure period” in the next paragraphfollowing the occurrence of one or more of the following events,without the employee’s express written consent: (a) a materialadversechangeinthenatureorscopeoftheemployee’sauthority,powers,functions, duties, responsibilities, orreportingrelationship(includingceasingtodirectlyreporttothechiefexecutiveofficerorboard of directors of a publicly traded entity, as applicable); (b) amaterialreductionbyTwitterintheemployee’srateofannualbasesalary; (c) the failure of Twitter to continue any materialcompensation plan in which the employee is participating, unlesstheemployeeispermittedtoparticipateinotherplansprovidingtheemployee with substantially comparable compensation-relatedbenefits, or the taking of any action by Twitter which wouldadverselyaffecttheemployee’sparticipationinormateriallyreducethe employee’s compensation-related benefits under any suchplan; or (d) the failure of Twitter to obtain from any successor ortransferee of Twitter an express written and unconditionalassumptionofTwitter’sobligationsundertheSeverancePolicy.

EmploymentmaybeterminatedbytheemployeeforGoodReasononly if an event or circumstance set forth in the Good Reasondefinitionsasspecifiedin(a)through(d)aboveshallhaveoccurredandtheemployeeprovidesTwitterwithwrittennoticethereofwithinninety (90) days after the employee has knowledge of theoccurrenceorexistenceofsucheventor

circumstance, which notice shall specifically identify the event orcircumstance that the employee believes constitutes GoodReason, Twitter fails to correct the circumstance or event soidentifiedwithinthirty(30)daysafterthereceiptofsuchnotice,andthe employee resigns after the expiration of the cure periodreferencedintheprecedingclause.

“Cause”means(a)theunauthorizeduseordisclosureofTwitter’sconfidential information or trade secrets, which use or disclosurecausesmaterial harmtoTwitter; (b) thebreachof anyagreementbetween the employee and Twitter; (c) the failure to comply withTwitter’swrittenpoliciesorrules,includingitscodeofconduct;(d)the conviction of, or plea of “guilty” or “no contest” to, a felonyunderthelawsoftheUnitedStatesoranystatethereof;(e)grossnegligence or willful misconduct in the performance of theemployee’s duties; (f) the continuing failure to perform assignedduties after receiving written notification of the failure from theboard of directors (or for eligible employees other than the ChiefExecutive Officer, from the Chief Executive Officer); or (g) thefailure to cooperate in good faith with a governmental or internalinvestigation of Twitter or its directors, officers or employees, ifTwitter has requested cooperation; provided, however, that“Cause”willnotbedeemedtoexistintheeventofsubsections(b),(c)or(f)aboveunlesstheemployeehasbeenprovidedwith(i)30days’writtennoticebytheboardofdirectorsortheactoromissionconstituting“Cause”and(ii) 30days’ opportunity tocuresuchactoromission,ifcapableofcure.

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NAME

% OF BASE SALARY

UPON TERMINATIONAS A RESULT

OF A CIC

% OF ACCELERATED

VESTING UPON

TERMINATION AS A RESULT

OF A CIC

% OF BASE SALARY

UPON TERMINATION

NOT IN CONNECTION

WITH A CIC

% OF ACCELERATED

VESTING UPON

TERMINATION NOT IN

CONNECTION WITH A CIC

NedSegal 100% 100% 100% 12.5%

VijayaGadde 100% 50% 100% 12.5%

MatthewDerella 100% 50% 100% 12.5%

MichaelMontano 100% 50% 100% 12.5%


“ChangeofControl”meanstheoccurrenceofanyofthefollowingevents:

A. ChangeinOwnershipofTwitter.AchangeintheownershipofTwitterwhichoccursonthedatethatanyoneperson,ormorethan one person acting as a group (“Person”), acquiresownership of the stock of Twitter that, together with the stockheld bysuchPerson, constitutes morethanfifty percent (50%)of the total voting power of the stock of Twitter; provided,however, that the acquisition of additional stock by any onePersonwhoisconsideredtoownmorethanfiftypercent(50%)of the total voting power of the stock of Twitter will not beconsideredaChangeofControl;or

B. ChangeinEffectiveControlofTwitter.IfTwitterhasaclassofsecuritiesregisteredpursuanttoSection12oftheExchangeAct,achangeintheeffectivecontrolofTwitterwhichoccursonthedatethatamajorityofmembersoftheboardofdirectorsisreplaced during any 12 month period by directors whoseappointment or election is not endorsed by a majority of themembers of the board of directors prior to the date of theappointment or election. For purposesof this clause(B), if anyPerson is considered to be in effective control of Twitter, theacquisition of additional control of Twitter by the same PersonwillnotbeconsideredaChangeofControl;or

C. ChangeinOwnershipof aSubstantial Portionof Twitter’sAssets. A change in the ownership of a substantial portion ofTwitter’s assets which occurs on the date that any Personacquires(orhasacquiredduringthe12monthperiodendingonthe date of the most recent acquisition by such person orpersons)assetsfromTwitterthathaveatotalgrossfairmarketvalue equal to or more than 50%of the total gross fair marketvalue of all of the assets of Twitter immediately prior to suchacquisitionoracquisitions;

provided, however, that for purposes of this subsection, thefollowing will not constitute a change in the ownership of asubstantial portion of Twitter’s assets: (i) a transfer to anentitythatiscontrolledbyTwitter’sstockholdersimmediatelyafterthetransfer, or (ii) a transfer of assets by Twitter to: (a) astockholderofTwitter(immediatelybeforetheassettransfer)inexchangefororwithrespecttoTwitter’sstock,(b)anentity,fiftypercent (50%) or more of the total value or voting power ofwhich is owned, directly or indirectly, by Twitter, (c) a Person,thatowns,directlyorindirectly,fiftypercent(50%)ormoreofthetotalvalueorvotingpowerofalltheoutstandingstockofTwitter,or(d)anentity, at leastfiftypercent(50%)ofthetotal valueorvoting power of which is owned, directly or indirectly, by aPerson.

Notwithstandingtheforegoing,atransactionwill notbedeemedaChangeofControlunlessthetransactionqualifiesasachangeofcontroleventwithinthemeaningofSection409AoftheCode.

The table below outlines the estimated amount of payments andbenefits that we would provide to our Named Executive Officersassuming that their employment was terminated as ofDecember 31, 2019 (including in connection with a Change ofControl)andthepricepershareofcommonstockwas$32.05,theclosingmarketpriceonDecember31,2019(thelasttradingdayof2019).

TheemploymentoftheNamedExecutiveOfficersdidnotactuallyterminateonDecember31,2019,nordidTwitterincuraChangeofControlonDecember31,2019.Asaresult,theNamedExecutiveOfficers did not receive any of the amounts shown in the tablebelow. The actual amounts to be paid to a Named ExecutiveOfficer in connection with a termination event or a Change ofControl event can only be determined at the time of suchterminationevent.

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Each Named Executive Officer is entitled to receive amounts earned during the term of employment regardless of the manner oftermination.TheseamountsincludeaccruedbasesalaryandotheremployeebenefitstowhichtheNamedExecutiveOfficerwasentitledonthedateofterminationandarenotshowninthetablebelow.NoneofourNamedExecutiveOfficersarecurrentlyentitledtoretirementbenefitsoradditionalbenefitsuponvoluntarytermination,deathordisability.

EXECUTIVEPAYMENT

ELEMENTS

INVOLUNTARY TERMINATION

AS A RESULT OFA CIC ($)

INVOLUNTARY TERMINATION NOT IN CONNECTION WITH A

CIC ($)

NedSegal Salary 600,000 600,000

PRSUs(1) 5,167,165 645,896

RSUs 12,263,452 1,532,931

HealthCoverage(2) 28,142 14,017

Total 18,058,759 2,792,898

VijayaGadde Salary 600,000 600,000

PRSUs(1) 3,243,460 810,865

RSUs 4,887,465 1,221,866


Total 8,758,412 2,646,475

MatthewDerella Salary 600,000 600,000

PRSUs(1) 769,200 192,300

RSUs 6,607,781 1,651,945


Total 8,004,899 2,458,204

MichaelMontano Salary 600,000 600,000

PRSUs(1) 3,358,455 839,614

RSUs 6,911,198 1,727,799


Total 10,878,781 3,171,977(1) RepresentsconversionoftargetnumberofPRSUsintoRSUsonaoneforonebasispursuanttothetermsoftheSeverancePolicy.

IncludesPRSUsunderthe2013Planatthetargetawardlevelforthe2019fiscalyearperformanceperiod(RevenueandOperatingIncomeperformancegoals)and2019-2020fiscalyearperformanceperiod(TSRperformancegoal)asdescribedinthesectiontitled“Executive Compensation—Compensation Discussion and Analysis—Elements of Pay and 2019 Compensation Decisions—EquityCompensation”onpage40.

(2) Represents six monthsof Twitter-paid insurancecoverageunder COBRAinthecaseof anInvoluntary Terminationnot associatedwithaCICandtwelvemonthsofTwitterpaidinsurancecoverageinthecaseofanInvoluntaryTerminationassociatedwithaCIC.


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EQUITYCOMPENSATIONPLANINFORMATIONThefollowingtable givesinformationabout sharesof our commonstockthat maybeissuedupontheexerciseof options, warrants andrightsunderallofourexistingequitycompensationplansasofDecember31,2019,includingourTwitter,Inc.EmployeeStockPurchasePlan (the “Purchase Plan”). No warrants are outstanding under any of the foregoing plans. We refer to these plans collectively as our“EquityCompensationPlans.”

PLAN CATEGORY

(A) NUMBER OF SECURITIES TO BE

ISSUED UPON EXERCISE OF

OUTSTANDING OPTIONS,

WARRANTS AND RIGHTS

(B) WEIGHTED AVERAGE

EXERCISE PRICE OF OUTSTANDING

OPTIONS, WARRANTS AND

RIGHTS

(C) NUMBER OF SECURITIES REMAINING

AVAILABLE FOR FUTURE ISSUANCE

UNDER EQUITY COMPENSATION

PLANS (EXCLUDING SECURITIES

REFLECTED IN COLUMN (A))

Equitycompensationplansapprovedbysecurityholders 36,266,939(1) $10.27(2) 241,429,950(3)

Equitycompensationplansnotapprovedbysecurityholders(4) 148,881 $ 1.34

Total 36,415,820 $ 9.84 241,429,950(1) This amount includes the following shares that may beissued under the 2007 Equity Incentive Plan (“2007Plan”), 2013Plan and

2016EquityIncentivePlan(“2016Plan”):• sharesthatmaybeissuedinconnectionwithoutstandingstockoptions;and• sharesthatmaybeissuedinconnectionwithstockawards.

(2) Indicates a weighted average price for 3,078,299 outstanding options under our 2007 Plan and 2013 Plan. It does not take intoaccountthesharesofourcommonstockunderlyingRSUsandPRSUs,whichhavenoexerciseprice.

(3) AsofDecember31,2019,anaggregateof198,359,350sharesremainedavailableforissuanceunderthe2013Planand2016Planand43,070,600sharesremainedavailableforfutureissuanceunderthePurchasePlan.Permissibleawardsunderthe2013Planand2016Planincludeincentivestockoptions,nonqualifiedstockoptions,restrictedstock,restrictedstockunits,stockappreciationrights,performanceunitsandperformanceshares.Inaddition,our2013Planprovidesthatonthefirstdayofeachfiscalyearbeginningin2014 and ending in (and including) 2023, the number of shares available for issuance thereunder is automatically increased by anumberequaltotheleastof(i) 60,000,000shares,(ii) 5%oftheoutstandingsharesofourcommonstockasofthelastdayoftheimmediatelyprecedingfiscalyear,or(iii)suchotheramountasourboardofdirectorsmaydetermine.OurPurchasePlanprovidesthatonthefirstdayofeachfiscalyearbeginningin2014andendingin(andincluding)2033,thenumberofsharesavailableforissuancethereunderisautomaticallyincreasedbyanumberequaltotheleastof(i)11,300,000shares,(ii)1%oftheoutstandingsharesofourcommonstockasof thelast dayof theimmediately precedingfiscal year, or (iii) suchother amount asourboardof directors maydetermine.OnJanuary1,2020,thenumberofsharesavailableforissuanceunderour2013PlanandourPurchasePlanincreasedby38,980,970sharesand7,796,194shares,respectively,pursuanttotheseprovisions.Theseincreasesarenotreflectedinthetableabove.

(4) Includessharesofcommonstocktobeissueduponexerciseofoutstandingstockoptionsunderthefollowingplanswhichhavebeenassumedby us in connectionwith certain of our acquisitiontransactions: Afterlive.tv Inc. 2010Stock Plan, Bluefin Labs, Inc. 2008StockPlan,CardSpringInc. AmendedandRestated2011EquityIncentivePlan,Crashlytics, Inc. 2011StockPlan,Gnip,Inc. 2008Incentive Plan, as amended, Magic Pony Technology Limited EMI Share Option Scheme, MoPub Inc. 2010 Equity Incentive Plan,SmyteInc.AmendedandRestated2014StockOptionandGrantPlan,andTellApart,Inc.2009StockPlan.


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SECURITYOWNERSHIPOFCERTAINBENEFICIALOWNERSANDMANAGEMENT

ThefollowingtablesetsforthcertaininformationwithrespecttothebeneficialownershipofsharesofourcommonstockasoftheRecordDatefor:

• eachofourdirectorsandnomineesfordirector;

• eachofourNamedExecutiveOfficers;

• allofourcurrentdirectorsandexecutiveofficersasagroup;and

• eachpersonorgroupwhobeneficiallyownedmorethan5%ofourcommonstock.

We have determined beneficial ownership in accordance with the rules of the SEC, and thus it represents sole or shared voting orinvestmentpowerwithrespecttooursecurities.Unlessotherwiseindicatedbelow,toourknowledge,thepersonsandentitiesnamedinthetable havesole voting andsole investment power with respect to all sharesthat theybeneficially owned, subject to community propertylawswhereapplicable.

Wehavebasedourcalculationofthepercentageofbeneficialownershipon784,629,121sharesofourcommonstockoutstandingasoftheRecordDate.Wehavedeemedsharesofourcommonstocksubjecttostockoptionsthatarecurrentlyexercisableorexercisablewithin60daysoftheRecordDateorissuablepursuanttoRSUsandPRSUswhicharesubjecttovestingconditionsexpectedtooccurwithin60days of the Record Date to be outstanding and to be beneficially owned by the person holding the stock option, RSUor PRSUfor thepurposeofcomputingthepercentageownershipofthatperson.Wedidnotdeemthesesharesoutstanding,however,forthepurposeofcomputingthepercentageownershipofanyotherperson.

Unlessotherwiseindicated,theaddressofeachbeneficialownerlistedinthetablebelowisc/oTwitter,Inc.,1355MarketStreet,Suite900,San Francisco, California 94103. The information provided in the table is based on our records, information filed with the SEC andinformationprovidedtous,exceptwhereotherwisenoted.

NAME OF BENEFICIAL OWNER

NUMBER OF SHARES

BENEFICIALLYOWNED

PERCENTAGE OF

SHARES BENEFICIALLY

OWNED

Named Executive Officers and Directors:

JackDorsey(1) 18,042,428 2.30%

OmidR.Kordestani(2) 1,311,044 *

NedSegal(3) 324,245 *

VijayaGadde(4) 514,837 *

MatthewDerella(5) 50,007 *

MichaelMontano(6) 296,553 *

JesseCohn(7) 0 *

EgonDurban(8) 1,791 *

MarthaLaneFox(9) 26,218 *

NgoziOkonjo-Iweala(10) 11,128 *

PatrickPichette(11) 14,309 *

DavidRosenblatt(12) 95,374 *

BretTaylor(13) 42,900 *

RobertZoellick(14) 10,859 *

Allexecutiveofficersanddirectorsasagroup(14persons)(15) 20,741,693 2.64%

Other 5% Stockholders:

TheVanguardGroup(16) 81,089,227 10.33%

BlackRock,Inc.(17) 51,753,333 6.60%

MorganStanleyandMorganStanleyInvestmentManagement,Inc.(18) 46,005,326 5.86%* Representsbeneficialownershipoflessthanonepercent(1%)oftheoutstandingsharesofourcommonstock.(1) Consistsof(i)13,704,901sharesheldofrecordbytheJackDorseyRevocableTrustdatedDecember8,2010,forwhichMr.Dorsey

serves astrustee, (ii) 2,337,527 shares held of record bythe JackDorsey 2010Remainder Trust, for whichMr. Dorseyserves astrusteeand(iii)2,000,000sharesissuablepursuanttooutstandingstockoptionswhichareexercisablewithin60daysoftheRecordDate.

(2) Consistsof(i)511,044sharesheldofrecordbyMr.Kordestaniand(ii)800,000sharesissuablepursuanttooutstandingstockoptionswhichareexercisablewithin60daysoftheRecordDate,allofwhicharefullyvested.

(3) Consistsof(i)289,523sharesheldofrecordbyMr.Segaland(ii)34,722sharesissuableuponvestingofRSUswithin60daysoftheRecordDate.


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SECURITYOWNERSHIPOFCERTAINBENEFICIALOWNERSANDMANAGEMENT

(4) Consistsof(i)474,296sharesheldofrecordbyMs.Gaddeand(ii)40,541sharesissuableuponvestingofRSUswithin60daysoftheRecordDate.

(5) Consistsof(i)1,257sharesheldofrecordbyMr.Derellaand(ii)48,750sharesissuableuponvestingofRSUswithin60daysoftheRecordDate.

(6) Consistsof(i)253,259sharesheldofrecordbyMr.Montanoand(ii)43,294sharesissuableuponvestingofRSUswithin60daysoftheRecordDate.

(7) Mr.CohnwasappointedtoourboardofdirectorsonApril7,2020.(8) Consistsof1,791sharesissuableuponvestingofRSUswithin60daysoftheRecordDate.(9) Consistsof(i)24,704sharesheldofrecordbyMs.LaneFoxand(ii)1,514sharesissuableuponvestingofRSUswithin60daysof

theRecordDate.(10) Consistsof(i)9,546sharesheldofrecordbyDr.Okonjo-Iwealaand(ii)1,582sharesissuableuponvestingofRSUswithin60daysof

theRecordDate.(11) Consistsof(i)12,795sharesheldofrecordbyMr.Pichetteand(ii)1,514sharesissuableuponvestingofRSUswithin60daysofthe

RecordDate.(12) Consistsof(i)93,860sharesheldofrecordbyMr.Rosenblatt(ii)1,514sharesissuableuponvestingofRSUswithin60daysofthe

RecordDate.(13) Consistsof(i)40,982sharesheldofrecordbyMr.Taylorand(ii)1,918sharesissuableuponvestingofRSUswithin60daysofthe

RecordDate.(14) Consistsof(i)9,345sharesheldofrecordbyMr.Zoellickand(ii)1,514sharesissuableuponvestingofRSUswithin60daysofthe

RecordDate.(15) Consistsof(i)17,763,039sharesheldofrecordbyourcurrentdirectorsandexecutiveofficers,(ii)2,800,000sharesissuablepursuant

tooutstandingstockoptionswhichareexercisablewithin60daysoftheRecordDate,all ofwhicharefullyvestedand(iii)178,654sharesissuableuponvestingofRSUswithin60daysoftheRecordDate.

(16) AccordingtotheinformationreportedbyTheVanguardGroup(“Vanguard”)onaSchedule13G/AfiledwiththeSEConFebruary12,2020,Vanguardbeneficiallyownsanaggregateof81,089,227shares,whichconsistsof(i)1,180,486sharesastowhichithassolevotingpower, (ii) 200,890sharesastowhichit hassharedvotingpower, (iii) 79,772,970sharesastowhichit hassoledispositivepower and (iv) 1,316,257 shares as to which it has shared dispositive power. The address of Vanguard is 100 Vanguard Blvd,Malvern,PA19355.

(17) AccordingtotheinformationreportedbyBlackRock,Inc.(“BlackRock”)onaSchedule13G/AfiledwiththeSEConFebruary10,2020,BlackRockbeneficiallyownsanaggregateof51,753,333shares,whichconsistsof(i)45,476,894sharesastowhichithassolevotingpowerand(ii)51,753,333sharesastowhichithassoledispositivepower.TheaddressofBlackRockis55East52ndStreet, NewYork,NY10055.

(18) Accordingto theinformation reportedbyMorganStanley andMorganStanley Investment Management, Inc. onaSchedule 13G/Ajointly filed with the SEC on February 13, 2020, (i) Morgan Stanley beneficially owns an aggregate of 46,005,326 shares, whichconsists of (A) 40,314,970 shares as to which it has shared voting power and (B) 46,005,326 shares as to which it has shareddispositivepowerand(ii)MorganStanleyInvestmentManagement,Inc.beneficiallyownsanaggregateof45,978,233shares,whichconsists of (A) 40,291,123 shares as to which it has shared voting power and (B) 45,978,233 shares as to which it has shareddispositivepower.TheaddressofMorganStanleyandMorganStanleyInvestmentManagement,Inc.is1585Broadway,NewYork,NY10036.


Wedescribebelowtransactionsandseriesofsimilartransactions,sincethebeginningofourlastfiscalyear,towhichwewereapartyorwillbeaparty,inwhich:

• theamountsinvolvedexceededorwillexceed$120,000;and

• anyofourdirectors,nomineesfordirector,executiveofficersorholdersof morethan5%of our outstandingcapital stock,or any immediate family member of, or person sharing thehouseholdwith,anyoftheseindividualsorentities,hadorwillhaveadirectorindirectmaterialinterest.

Jack Dorsey, our Chief Executive Officer and a member of ourboard of directors, also serves as a director and President andChiefExecutiveOfficerofSquare,Inc.(“Square”).Duringtheyearended December 31, 2019, Square purchased approximately$1,000,000 of advertising services from us, including directpurchases andpurchases through agencies. Our audit committeereviewed and approved these purchases pursuant to our relatedperson transactions policy. Square may continue to purchaseservicesfromusinthefuture.

In October 2019, we entered into an agreement with Squarepursuant to which Square will pay Twitter for certain securityservicesprovidedbyTwitterwhenJackDorseyisactingonbehalfofSquareoronbehalfofbothcompanies.Paymentswillbebasedonanagreed-uponhourly rate. Wedidnot receiveanypaymentsunder this agreement in 2019. Our audit committee reviewedandapproved this agreement pursuant to our related persontransactionspolicy.

ThesisterofVijayaGadde,ourChiefLegalOfficerandSecretary,isemployedbyusasSeniorManager, MoPub.Herannualsalaryandothercashcompensationisapproximately$275,000,andshereceives benefits consistent with other employees serving in thesame capacity. In addition, she received grants totaling 2,721RSUsduringtheyearendedDecember31,2019.

Other than as described above, since January 1, 2019, we havenot entered into any transactions, nor are there any currentlyproposedtransactions,betweenusandarelatedpersonwherethe

amount involved exceeds, or would exceed, $120,000, and inwhich any related person had or will have a direct or indirectmaterial interest. We believe the terms of the transactionsdescribed above were comparable to terms we could haveobtainedinarm’s-lengthdealingswithunrelatedthirdparties.

PoliciesandProceduresforRelatedPersonTransactionsOur audit committee has the primary responsibility for reviewingandapprovingorratifyingrelatedpersontransactions.Wehaveaformal written policy providing that a related persontransaction isany transaction between us and an executive officer, director,nominee for director, beneficial owner of more than 5% of anyclassofourcapital stock, oranymemberoftheimmediatefamilyofanyoftheforegoingpersons,inwhichsuchpartyhasadirectorindirect material interest and the aggregate amount involvedexceeds $120,000. In reviewing any related person transaction,our audit committee is to consider the relevant facts andcircumstancesavailabletoourauditcommittee,including,whetherthetransactionisontermsnolessfavorablethantermsgenerallyavailable to an unaffiliated third party under the same or similarcircumstances,andtheextentoftherelatedperson’sinterestinthetransaction. Our audit committee has determined that certaintransactions will be deemed to be pre-approved by our auditcommittee, including certain executive officer and directorcompensation, transactions with another company at which arelatedperson’sonlyrelationshipisasanon-executiveemployee,director or beneficial owner of less than 10% of that company’sshares and the aggregate amount involved does not exceed thegreater of $200,000 or 2% of the company’s total revenues,transactions where a related person’s interest arises solely fromtheownershipofourcommonstockandallholdersofourcommonstock received the same benefit on a pro rata basis, andtransactions available to all employees generally. If advanceapproval of a transaction is not feasible, the chair of our auditcommittee may approve the transaction and the transaction maybe ratified by our audit committee in accordance with our formalwrittenpolicy.

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RELATEDPERSONTRANSACTIONS


FiscalYear2019AnnualReportandSECFilingsOur financial statements for our fiscal year ended December 31,2019are includedin our Annual Report on Form10-K, which wewillmakeavailabletostockholdersatthesametimeasthisproxystatement.Thisproxystatementandourannualreportarepostedon our website at https://investor.twitterinc.comand are availablefromtheSECatitswebsiteathttps://www.sec.gov.Youmayalsoobtain a copy of our annual report without charge by sending awrittenrequest toTwitter, Inc., Attention: Investor Relations, 1355MarketStreet,Suite900,SanFrancisco,California94103.

SpecialNoteRegardingForward-LookingStatementsThis proxy statement contains forward-looking statements withinthemeaningofSection27AoftheSecuritiesActandSection21Eof the Exchange Act, which statements involve substantial risksand uncertainties. Forward-looking statements generally relate tofuture events or our future financial or operating performance. Insomecases,youcanidentifyforward-lookingstatementsbecausethey contain words such as “may,” “will,” “should,” “expects,”“plans,” “anticipates,” “could,” “intends,” “target,” “projects,”“contemplates,” “believes,” “estimates,” “predicts,” “potential” or“continue”orthenegativeofthesewordsorothersimilartermsorexpressions that concern our expectations, strategy, plans orintentions. Forward-looking statements contained in this proxystatementinclude,butarenotlimitedto,statementsaboutTwitter’sfuturefinancialandoperatingperformance,expectationsregardingits strategies, product, and business plans, including its revenueand operational priorities, product initiatives, and productexperiments; strategies for improving safety and expectationsregardingtheapplicationofitsabuserules.

* * *

The board of directors does not knowof any other matters to bepresented at the Annual Meeting. If any additional matters areproperly presented at the Annual Meeting, the persons named intheenclosedproxycardwill havediscretiontovotethesharesofour common stock they represent in accordance with their ownjudgmentonsuchmatters.

It is important that your shares of our common stock berepresented at the Annual Meeting, regardless of the number ofshares that you hold. You are, therefore, urged to vote bytelephone or by using the Internet as instructed on the enclosedproxycardorexecuteandreturn,atyourearliestconvenience,theenclosedproxycardintheenvelopethathasalsobeenprovided.

THE BOARD OF DIRECTORSSanFrancisco,CaliforniaApril15,2020

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