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 the year 2020 along with stock package worth over $200 million. The Google CEO will receive $90 million as part of the Alphabet's performance. Alphabet, in a filing to the 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, the expanded role of Pichai as Alphabet and Google CEO has been rewarded with the revised package. The stock package comprises of time-based stock units of $120 million and performance-based stock units of $90 million. One-twelfth of the time-based stock units will vest on March 25, 2020, with every one-twelfth vesting each quarter to follow. The $90 million performance-based stock unit will be divided equally into two parts and will vest by the end of 2022 depending on the Alphabet's shareholder returns compared to the S&P 100.

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'Proud parents'

Pichai became Alphabet’s CEO after Google co-founders Larry Page and Sergey Brin relinquished the leadership position on December 3. Page and Brin, in a joint message, said that it was the time that they assume the role of “proud parents - offering advice and love, but not daily nagging!” The co-founders said that they are deeply committed to Google and Alphabet and will remain actively involved as board members, shareholders, co-founders. “In addition, 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 their position, Pichai assured that the transition won't affect the Alphabet structure or the work.

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

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