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Google CEO Pichai paid US$100.5m for first year at the helm
[NEW YORK] Google Inc Chief Executive Officer Sundar Pichai received a US$100.5 million pay package in 2015, according to a filing from parent company Alphabet Inc. Tuesday.
Pichai received US$99.8 million in restricted stock that will vest in full by 2017. He also received a US$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 US$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 US$635 million as of Monday's close in New York, according to data compiled by Bloomberg. He also holds unvested stock options valued at US$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 US$8.04 million for 2015, including a US$1.25 million salary and US$6 million cash bonus. Chief Financial Officer Ruth Porat was awarded US$31 million, including US$25.1 million in restricted stock.
An Alphabet spokesman didn't immediately respond to a request for comment.