Google
CEO Sundar Pichai received a grant for 273,328 Class C Google stock
units, worth about $199 million (roughly Rs. 1,356 crores), according to a
regulatory filing by Google parent company Alphabet Inc.
In
addition to the February 3 grant for the class C Google stock units, the
43-year-old Pichai on the same day sold 375 Class A common shares at a price of
$786.28 each, and sold 3,625 Class C capital stock at a price of $768.84 each,
the filing said.
With the
move, Pichai is set to become one of the highest-paid executives of
publicly-traded US firm this year. The new Class C shares he was awarded will
vest in quarterly increments through till 2019, if the Google CEO remains at
his appointed position. According to Credit Suisse, the new shares put the
value of Pichai's Alphabet holdings at approximately $650 million (roughly Rs.
4,430 crores).
Bloomberg
reports that according to its data, the award is the biggest ever given to a
Google executive officer. It is also Pichai's first award since he took over as
CEO in August 2015. The financial publication also notes the Alphabet filing
revealed the company awarded $42.8 million (roughly Rs. 291 crores) in
restricted stock to Diane Greene, former CEO of VMware, who is in charge of
cloud business since November.
Ruth
Porat, CFO of Alphabet, was given $38.3 million (roughly Rs. 261 crores) worth
of equity, according to the filing. It equity will vest under the same
conditions as Pichai for Porat - in quarterly increments till 2019 if she
remains on the job.
The top 10 highest paid US chief executives of 2015
John
Hammergren, pharmaceutical firm McKesson: $131.2m
Ralph
Lauren, founder of fashion house Ralph Lauren: $66.7m
Michael
Fascitelli, real estate investment trust Vornado Realty: $64.4m
Richard
Kinder, energy infrastructure firm Kinder Morgan: $60.9m
David
Cote, conglomerate Honeywell: $55.8m
George
Paz, pharmaceutical services firm Express Scripts: $51.5m*
Jeffery H
Boyd, travel and tourism website Priceline.com: $50.2m*
Stephen
Hemsley, US health insurance firm UnitedHealth Group: $48.8m*
Clarence
P Cazalot, Marathon Oil: $43.7m
John C
Martin, biotech company Gilead Sciences: $$43.2m
Source:
Forbes magazine. Figures include shares awards the individual vested in the
year
*Previous
year's total compensation
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