• Source:JND

Under the new compensation plan issued by the US Securities and Exchange Commission on Friday, Google CEO, Sunder Pichai, could earn up to USD 692 million over the next three years.

According to the filing released on Friday, the Indian-origin tech executive’s compensation package will be spread over the next three years.

Pichai’s base salary will remain unchanged at USD 6 million for three years, which equals USD 2 million annually. The majority of his compensation will come in the form of Alphabet stock awards, which will depend on the company’s financial performance and dividend payouts.

ALSO READ: Did US And Israel Miscalculate Iran’s Response? Where The Three Nations Stand After A Week Of War

In addition, the compensation package includes shares in two Alphabet subsidiaries, Waymo, the company’s autonomous vehicle division, and Wing, which focuses on drone-based delivery services.

The SEC filing indicates that Pichai could receive about USD175 million from these subsidiaries, including USD 130 million from Waymo and USD 45 million from Wing. However, the final value will depend on the performance of the shares.

If realised fully, the deal could place Pichai among the highest-paid CEOs globally.

The filing also notes that if Pichai is dismissed before the stock options vest, he would have to forfeit any unexercisable stock options.

Alphabet stated in the filing that the incentive structure is designed to align leadership performance with shareholder interests, noting that Pichai’s previous compensation packages have significantly benefited the company and its investors.

Pichai has served as the CEO of Alphabet since December 2019 and as CEO of Google since October 2015. He joined Google in 2004 and has led the development of several major products, including Google Chrome, Android, Gmail, Google Maps, and Google Workspace.

ALSO READ: 10th Pass Unemployed Youth In Bengal To Get Rs 1,500 Monthly Allowances: CM Banerjee Ahead Of Polls

Before becoming CEO, he served as Google’s Senior Vice President of Products and earlier led teams overseeing Android, Chrome, and Google Apps. Pichai also sits on the Alphabet Board of Directors.

Having spent nearly 22 years at Google, Pichai has overseen the company’s growing focus on artificial intelligence and next-generation technologies.


Also In News