Depends on the buyer and nuanced details of how the awards actually work at Twitter. For existing shares vested those will most likely just be paid out in cash

Depends on the buyer and nuanced details of how the awards actually work at Twitter. For existing shares vested those will most likely just be paid out in cash into a brokerage account for any shares still held. If the acquisition is a traditional pure cash transaction employees would cease to be shareholders. On things not vested it’s typically up to the buyer. Obviously some incentive to not just annoy everyone to the point that they all quit, but the new buyer will generally quickly decide who they want to keep and won’t be too fussed if others just get pissed and leave. Reality is in transactions like this the employees are just another company asset for the new owner to sort out what to do with.