>Even among its Silicon Valley peers, which have drawn closer scrutiny from investors recently because of their generous stock-based compensation practices, Twi

>Even among its Silicon Valley peers, which have drawn closer scrutiny from investors recently because of their generous stock-based compensation practices, Twitter is notable for how much equity it doles out. >And those grants of restricted stock units or options, which would have to be covered to some degree by any buyer, simply add to the purchase price of any deal. >According to Twitter’s most recent annual filing, the company racked up $682 million in stock-based compensation last year. By comparison, the company’s adjusted earnings before interest, taxes, depreciation and amortization — which also excludes stock-based compensation — for the year was $557.8 million. >Factoring in the payouts would have pushed Twitter well into the red for the year. https://www.nytimes.com/2016/09/27/business/dealbook/twitters-steep-premium-the-cost-of-employee-stock-grants.html https://www.nytimes.com/2016/09/27/business/dealbook/twitter...