Sundar Pichai CEO of Alphabet and Google will carry home a $240 million stock package ($90 million of it tied to Alphabet’s performance) on top of a $2 million annual salary in 2020.
Alphabet said in a Securities Exchange Commission filing on Friday that Pichai will also start receiving a substantial raise from January 1 to $2 million a year, reports the Mercury News.
The compensation package is being given in recognition of Pichai’s “expanded role as CEO of Alphabet and Google”.
On Thursday (19.12.2019) Pichai had received $90 million in stock awards that will vest by the end of 2022 “depending on Alphabet’s shareholder returns compared to the S&P 10o said by the organizers.
The reports of the organizers also said that Pichai had also received two other stock grants, of $120 million and $30 million, neither tied to performance but subject to his continued employment.
Signaling the end of an era, Google co-founders Larry Page and Sergey Brin decided to surrender their current positions in the parent company Alphabet earlier this month, making India-born Pichai the CEO of both Google and Alphabet.
Page and Brin both of them will be continuing their involvement as co-founders, shareholders and members of Alphabet’s Board of Directors.
Pichai joined Google in 2004 and helped lead the development of Google Toolbar and then Google Chrome, which grew to become the world’s most popular internet browser.
Sundar became Google’s CEO in August 2015. In July 2017 he had joined the Board of Directors of Alphabet, Google’s parent company. Since 2015, under his leadership as CEO, Google has been focused on developing products and services, powered by the latest advances in Artificial Intelligence, that offer help in big and small moments.
Pichai, who grew up in Chennai and studied engineering at the Indian Institute of Technology, did his master’s degree from Stanford University and MBA from the Wharton School.