A filing reveals the new CEO’s pay package and that holding company Alphabet’s CEO Larry Page and president Sergey Brin again each made $1 last year, while executive chair Eric Schmidt earned $8 million, down from $108.7 million.
New Google CEO Sundar Pichai received compensation worth $100.5 million in 2015, according to a regulatory filing.
His salary amounted to $652,500, and he received stock awards worth more than $99.8 million. He also got “other” compensation worth $22,935.
The former deputy of co-founder Larry Page was named to run the search engine unit following the reorganization into a holding company last year. Following that promotion, Alphabet in February awarded him restricted shares valued at $199 million, the largest grant ever given to a Google executive officer whose pay has to be reported in filings.
The two grants have brought Pichai’s holding of unvested restricted shares to $635 million as of Monday’s close in New York, according to data compiled by Bloomberg. He also holds unvested stock options valued at $11.6 million.
Alphabet typically grants equity awards to executives once every two years, a strategy it has said “encourages executives to take a long-term view of the business.”
Pichai, the former deputy of Google co-founder Larry Page as senior vp products, was picked to run the Internet giant in August following a reorganization that created holding company Alphabet. It owns Google and a group of subsidiaries that Page at the time described as “pretty far afield of our main Internet products,” including the moonshot lab Google X. Pichai became Google CEO on Oct. 2, 2015.