Twitter Locks Staff Stock Accounts in Anticipation of Deal (1)

Twitter Inc. froze the equity awards accounts for employees on Monday as the deadline to seal a deal with Elon Musk approaches.

The social media company updated its employee FAQ page this week to alert staff that they won’t be able to access or trade shares from the Equity Award Center. The page said the change was done “in anticipation of the closing of the pending acquisition of Twitter by an entity controlled by Elon Musk,” according to two people familiar with the change.

Twitter locks up employee equity award accounts.

Source: Bloomberg

“This freeze allows Schwab to perform final reconciliation of employee accounts prior to close ...