Twitter, Inc., (NYSE:), today announced that its Board of Directors adopted an agreement for limited-term shareholder rights (the “Rights Plan”) unanimously. Following an anonymous, non-binding request to acquire Twitter the Rights Plan was adopted by the Board.

This Rights Plan will allow all shareholders to fully realize the value of their Twitter investment. This plan will decrease the chance that an entity, person, or group can gain control of Twitter via open market accumulation. It does not pay any shareholders an appropriate premium. The Board is given sufficient time to inform shareholders and make decisions that are best for them.

If the Board feels it is in Twitter’s best interest and for its shareholders, the Rights Plan doesn’t prevent them from engaging with other parties.

This plan is comparable to similar plans taken by publicly-held companies under similar circumstances. The Rights Plan will allow an entity, person, or group to acquire beneficial ownership of at least 15% of Twitter’s common stock. This transaction must be approved by the Board. If the threshold is crossed and the rights are made exercisable, the rights holders (other than those triggering the Rights Plan) will be able to buy additional common stock at the current exercise price with a market value equal to twice that of their rights.

The Rights Plan expires on April 14, 2023.

A Form 8-K will contain additional information about the Rights Plan and it is being filed with Twitter by the U.S Securities and Exchange Commission.