Google CEO Gets Equity Award of $199 Million
February 08 2016 - 4:10PM
Dow Jones News
Alphabet Inc. granted Sundar Pichai, chief executive of the
company's main Google business, an equity award valued at $199
million, making him one of the world's highest-paid executives.
In a securities filing Friday, Alphabet said it awarded Mr.
Pichai 273,328 Class C Google Stock Units on Feb. 3. At that time,
the grant was valued at $199 million, though declines in Alphabet
shares since put that value at about $182 million now.
The new award vests in quarterly increments over the next four
years as long as Mr. Pichai is employed by Alphabet.
The grant lifts the value of Mr. Pichai's equity stake in
Alphabet to more than $600 million. That is still well below the
stake held by co-founders Larry Page and Sergey Brin, and Eric
Schmidt, Alphabet's executive chairman who was hired several years
after the company started.
However, the award is one of the largest by an American company.
In 2011 Apple Inc. awarded Tim Cook a grant valued at $376.2
million when he was named chief executive, succeeding co-founder
Steve Jobs.
For 2014, The Wall Street Journal ranked Michael Fries of media
company Liberty Global as the highest-paid executive with $112
million in total compensation, including salary, bonuses and
long-term awards such as equity grants.
Alphabet's grant appears to be an effort to hold on to Mr.
Pichai, who last year took responsibility for businesses that
generate about 90% of Alphabet's revenue and an even larger
percentage of its profit. He previously built Google's Chrome Web
browser business and ran the Android mobile operating system for
several years, making him a top recruiting target for rivals.
Write to Alistair Barr at alistair.barr@wsj.com
(END) Dow Jones Newswires
February 08, 2016 15:55 ET (20:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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