CEO OF GOOGLE SET TO EARN UP TO $692 MILLION IN NEW DEAL
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By: Fasasi Hammad
The CEO of Google and its parent company Alphabet could earn up to $692 million over the next three years under a new compensation package disclosed Friday by the US Securities and Exchange Commission (SEC).
The deal would position Sundar Pichai, who has led Google since 2015 and Alphabet since 2019, among the world’s highest-paid CEOs.
Under the plan, Pichai’s base salary would remain at $6 million over three years, or $2 million annually. The bulk of his compensation would come in the form of Alphabet stock, as well as shares in two subsidiaries — the autonomous vehicle company Waymo and drone delivery service Wing.
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The SEC filing indicates Pichai could receive roughly $130 million from Waymo and $45 million from Wing. Payouts will depend on share performance and, for Alphabet, dividend distributions.
In the event of termination, any unexercised stock options would be forfeited, the filing notes.
“Current and previous incentives in Mr. Pichai’s compensation have significantly benefited Alphabet and its stockholders,” the company stated.
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