Sundar Pichai is highest paid executive in America with pay of $100.5 million in 2015

Pichai received $99.8 million restricted stock in 2015.

AB Wire

"Sundar Pichai"

Google CEO Sundar Pichai was paid $100.5 million on his first year in the job, a new filing has revealed, making him the highest paid executive in America.

On top of Pichai’s $652,500 annual salary, Tuesday’s public report shows he also received $99.8 million in restricted stock in 2015, which will be fully vested in 2017, reported Daily Mail.

The news comes just a month after Pichai was handed $199 million in restricted shares – the most lucrative award ever handed to a Google executive.

Once deputy to Google co-founder Larry Page, rising star Pichai was promoted to the top spot at Google Inc when parent company Alphabet was founded in August 2015

According to Bloomberg, granted Pichai remains in his position for at least three years, the shares will vest in quarterly increments between now and 2019.

It is customary for Google to award executives restricted stock about once every two years in a bid to encourage then ‘to take a long-term view of the business’.

The director of the firm’s cloud operation, Diane Greene, received an award of $42.8 million, while CFO Ruth Porat got $38.3 million.

Alphabet overtook Apple to become the world’s most valuable public company onFebruary 1 after it reported better-than-expected quarterly revenue, reported Daily Mail.

It reported a rise in profit to $4.9 billion, up from $4.7 billion in the same period last year, boosted by strong sales of advertising on mobile devices and YouTube

As stock markets opened following the results, Apple was valued at $534bn – with Google passing them at $554bn.

Hollywood Reporter said Alphabet’s CEO Larry Page and president Sergey Brin again made $1 each last year, while executive chair Eric Schmidt earned $8 million, down from $108.7 million.

Page, now CEO of Alphabet, and Sergey Brin, president of Alphabet, made $1 each last year. They have been receiving a $1 salary as compensation for years.

Alphabet executive chairman Eric Schmidt’s 2015 compensation amounted to more than $8 million, Tuesday’s filing showed, down from $108.7 million in 2014, which was driven by more than $100 million in stock awards.

 

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