Google offers Sundar Pichai a compensation package worth up to $692 million: Everything you need to know
Sundar PichaiGoogle’s CEO will be paid up to $692 million under a new compensation plan announced Friday by the U.S. Securities and Exchange Commission. The Indian-origin tech leader, who is also the CEO of Google parent company Alphabet, is expected to earn the money over the next three years.
Within the compensation plan:
According to reports, Pichai’s salary of $6 million over three years, or $2 million per year, will not change. The remainder of his compensation plan will be paid out in Alphabet stock.
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In addition, the compensation will include shares in two subsidiaries: self-driving car company Waymo and drone delivery service Wing. According to SEC filings, Pichai could receive nearly $175 million from subsidiaries, including $45 million from Wing and $130 million from Waymo.
However, the allocation will reportedly depend on the stock’s performance. As for Alphabet, it will depend on the amount of dividends paid. The deal will make Sundar Pichai one of the highest paid people CEO in the world.
What happens if you get fired?
If Pichai is fired, he will have to “forfeit all outstanding stock options,” according to the filing.
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“Mr. Pichai’s current and prior compensation incentives have significantly benefited Alphabet and its shareholders,” the company said in the filing.
(With input from AFP)
