Tuesday, February 9, 2016
Google CEO Sundar Pichai got a stock package worth almost $200 million
Google's Sundar Pichai is getting a nice payday to go along with his new role as CEO of the internet search company.
Pichai received roughly $183 million in stock, which will vest over a period of four years,according to a regulatory filing. The pay package appears to be one of the largest awarded to a Google executive.
Pichai became the CEO of Google in October, after the company restructured and created the new Alphabet holding company. Alphabet is comprised of the traditional Google Internet business and various separate companies focused on "other bets," such as the high-speed broadband business Google Fiber and the home appliance business Nest.
The hefty pay package underscores how important Alphabet's flagship search engine remains to the company, even as it diversifies into other projects, and how how much the company wants Pichai to stick around.
Pichai was awarded 273,328 Class C shares of Google stock, which will vest over a four year period, according to SEC documents filed on Friday.
According to Bloomberg, the pay package is the highest that Google has ever given to an executive officer whose equity grants have been reported in filings. Former Google CEO Eric Schmidt, who is currently Executive Chairman, received two separate $100 million stock grantsin 2011 and 2014.