Alphabet Inc. Chief Executive Sundar Pichai received his third massive stock award since rising to the top of Google, the company disclosed Friday.
Pichai received $218 million in stock awards after his previous award cashed in 2022, according to a proxy filing with the Securities and Exchange Commission that was made public Friday afternoon. Alphabet GOOGL GOOG has awarded Pichai stock bonuses of roughly $200 million or more every three years, and they take three years to vest, with a mix of time-based awards and performance-based...
The triennial stock award boosted his 2022 total compensation to $226 million, more than 800 times the average Alphabet employee’s compensation last year, which was roughly $280,000. Alphabet pointed out that the stock award causes outsize ratios in the years Pichai receives them — for example, the 808-1 ratio in 2022 compares with a 27-to-1 ratio in 2020 and 21-to-1 in 2021.
Pichai’s stock awards consist of $84 million in restricted stock units and $126 million in performance-based restricted stock units . Executives receiving awards don’t recognize income at the time that they’re granted stock awards, but rather when they vest; the stock awards are realized as compensation in the years they are granted, though, which has led to Pichai being named the highest paid CEO in previous years in which the awards were granted.
“These changes further align Sundar’s compensation to long-term shareholder value creation and Alphabet’s stock performance relative to the S&P 100 over the applicable performance periods,” Alphabet said in the proxy filing.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Character.ai CEO Noam Shazeer says Google was afraid to launch chatbotA former Google researcher behind a seminal AI paper describes how the company lost a top chatbot visionary
Read more »
Google gears up for AI blitz with big merger: ‘It’s all hands on deck’Shortly after launching ChatGPT, OpenAI, the chatbot’s San Francisco creator, announced a stronger alliance with Google rival Microsoft.
Read more »
Google Bard is an ethical mess, say Google’s own workers | Digital TrendsGoogle ignored employee warnings that Bard, its AI chatbot and ChatGPT rival, was a pathological liar and potentially dangerous, according to a new report.
Read more »
Google’s Bard AI chatbot can now help you code and create functions for Google SheetsGoogle’s chatbot gets a coding upgrade.
Read more »
Lyft to 'significantly' slash workforce in third round of cuts, new CEO tells workersNew Lyft Chief Executive David Risher tells employees that company needs to cut costs, deliver profitable growth.
Read more »
Google Play plans to allow UK devs to use third-party billing for in-app purchasesGoogle’s app platform the Play Store has officially been confirmed to allow for third-party, in-app billing solutions for residents of the United Kingdom by the end of October of 2023.
Read more »