Sundar Pichai as CEO of Alphabet and Google will take home $2 million in salary starting 2020.
CEO of Alphabet and Google Sundar Pichai would receive $240 million in performance-based stock awards over next three years, the highest-ever promised to any executive of the organization.
In year 2016, Pichai received $199 million in stock awards, the highest ever for any Alphabet executive back then.
According to regulatory filing , Pichai as CEO of Alphabet and Google will take home $2 million in salary starting 2020.
In recognition of his expanded role as CEO of Alphabet and Google, the Leadership Development and Compensation Committee of the Board determined to increase Mr. Pichai’s salary to $2,000,000 effective January 1, 2020, and to provide equity awards in the form of performance stock units (“PSUs”) and restricted stock units (“GSUs”), The U.S. Securities and Exchange Commission (SEC) stated.
On December 19, 2019, Mr. Pichai was granted an award consisting of two tranches of PSUs with a target value of $45,000,000 each.
The target number of PSUs for each tranche was calculated by dividing the target value of $45,000,000 by the average closing price of Alphabet’s Class C capital stock during the month of November 2019 (the “Average Closing Price”).
On December 19, 2019, Mr. Pichai was granted an award of $120,000,000 in the form of GSUs. The number of GSUs comprising the grant was calculated by dividing the equity award amount by the Average Closing Price.
The Leadership Development and Compensation Committee of the Board of Directors of Alphabet Inc. on 17th December approved the above mentioned compensation arrangement for Sundar Pichai.