Tech colossus Google revealed on Wednesday that it had authorised a new equity award for CEO Sundar Pichai that more closely links his pay to performance.
The company added that Pichai’s “strong performance” as CEO has been acknowledged by the board and that a large portion of the award’s vesting will depend on how Alphabet’s total shareholder return compares to that of other S&P 100 companies.
Alphabet Inc., the parent company of Google, stated that the award was changed to increase the performance stock units (PSUs) to 60% from 43% in 2019 while lowering the performance threshold for the payout.
Reuters reports that Pichai, who receives equity awards every three years, was given $84 million in the form of Alphabet’s restricted stock units in addition to two PSU grants with target values of $63 million each.
Pichai’s net worth decreased by 20% to Rs 5,300 crore, according to the IIFL Hurun India Rich List 2022, but he still ranks among the ten richest professional managers. Prior to that, Pichai declined a similar new grant of stock options in 2018, claiming he had already been paid “generously.”
All of Prime, half the price.
Qualifying government assistance recipients can access all of Prime for $6.99/month (reg. /month).
Pichai spoke with Ashwini Vaishnaw, the IT minister, while he was earlier this week in India. The two also discussed “Make in India,” national tech regulations, and other topics.
Pichai lavished praise on the India export success story. “Given the enormous talent that exists, there is a fantastic opportunity. UPI and Gpay have already expanded internationally for Google. We now have AI-based flood forecasting methods that originated in India before spreading to Bangladesh “said he. He anticipates that there will be more instances of India overtaking other countries and then finding a way to export that success story.
- X (previously Twitter) is now offering voice and video calling
- As Elon Musk auctions off company memorabilia, a statue of the Twitter Bird sells for $100,000
- Amazon CEO Jeff Bezos warns of a recession and advises people to avoid the number of things
- Here are some smart methods to invest and save money before retirement
1 comment
Excelllent pieces. Keep writing suuch kindd oof infvo oon your
site. Im really impressed by your blog.
Heyy there, Yoou have dne a great job. I will dsfinitely djgg itt
annd personslly recommend too mmy friends. I’m confident tjey wilpl bbe benefited from this site.