Google CEO Sundar Pichai to get $240 mn stock package, $2 mn salary

Alphabet Inc new chief executive officer (CEO) Sundar Pichai will get an annual salary of $2 million for year 2020 along with stock pack worth over $200 million. Google CEO will receive $90 million as part of Alphabet's performance. Alphabet, in a filing to Securities Exchange Commission (SEC), reportedly declared that Pichai will start receiving $2 million a year starting January 1, 2020.

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According to a regulatory filing, expanded role of Pichai as Alphabet and Google CEO has been rewarded with revised pack. stock pack comprises of time-based stock units of $120 million and performance-based stock units of $90 million. One-twelfth of time-based stock units will vest on March 25, 2020, with every one-twelfth vesting each quarter to follow. $90 million performance-based stock unit will be divided equally into two parts and will vest by end of 2022 depending on Alphabet's shareholder returns compared to S&P 100.

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'Proud parents'

Pichai became Alphabet’s CEO after Google co-founders Larry P and Sergey Brin relinquished leership position on December 3. P and Brin, in a joint mess, said that it was time that y assume role of “proud parents - offering vice and love, but t daily nagging!” co-founders said that y are deeply committed to Google and Alphabet and will remain actively involved as board members, shareholders, co-founders. “In dition, we plan to continue talking with Sundar regularly, especially on topics we’re passionate about!”

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After Alphabet co-founders stepped down from ir position, Pichai assured that transition won't affect Alphabet structure or work.

"I will continue to be very focused on Google and deep work we’re doing to push boundaries of computing and build a more helpful Google for everyone. At same time, I’m excited about Alphabet and its long term focus on tackling big challenges through techlogy," wrote new Alphabet Inc. CEO.

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