Google Inc chief executive Sundar Pichai received a $100.5 million pay package in 2015, according to a filing from parent company Alphabet Inc.
Pichai received $99.8 million in restricted stock that will vest in full by 2017. He also received a $652,500 salary. The stock award hasn’t previously been disclosed in filings.
The former deputy of co-founder Larry Page was named to run the search engine unit following the reorganization into a holding company last year. Following that promotion, Alphabet in February awarded him restricted shares valued at $199 million, the largest grant ever given to a Google executive officer whose pay has to be reported in filings.
The two grants have brought Pichai’s holding of unvested restricted shares to $635 million as of Monday’s close in New York, according to data compiled by Bloomberg. He also holds unvested stock options valued at $11.6 million.
Alphabet typically grants equity awards to executives once every two years, a strategy it has said “encourages executives to take a long-term view of the business.”
Executive chairman Eric Schmidt received $8.04 million for 2015, including a $1.25 million salary and $6 million cash bonus. Chief Financial Officer Ruth Porat was awarded $31 million, including $25.1 million in restricted stock.Alphabet rose 0.1 per cent to $734.42 a share as of 11 a.m. in New York, paring its decline for the year to 3.2 per cent.An Alphabet spokesman declined to comment.
- (Bloomberg)
