Google CEO Sundar Pichai was paid $100.5 million last year, according to a new filing from holding company Alphabet, Bloomberg reports. A stock award of $99.8 million in restricted shares was previously undisclosed in filings. Pichai also received a salary of $652,000.
Pichai, formerly the deputy of Google (GOOG) co-founder Larry Page, took over Google’s search engine business last year when the company was reorganized into holding company Alphabet last year.
The $99.8 million equity award came in January, prior to Pichai’s promotion to CEO. Pichai was also awarded restricted shares worth some $199 million in February of this year. That second offering of stock is the largest handed out to a Google executive on public record.
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All said, Pichai now holds unvested restricted stock to $635 million, with nearly half that coming to him since January of last year. That’s not counting some $11.6 million in unvested stock options. The $99.8 million in restricted stock awarded in 2015 will vest fully in 2017, while the $199 million awarded in February will vest in quarterly increments through 2019 if he remains in the job.
Alphabet typically awards executives with equity once every two years, a system that company says encourages its leaders to take a long-term view of the business.
Pichai has now been awarded twice in 13 months, though the filing suggests the $99.8 million awarded to Pichai in January of last year was more a reflection of his increased role and responsibilities within the company, granted independent of Alphabet’s regular executive compensation schedule.
The same filing shows that Alphabet Executive Chairman Eric Schmidt received a total of $8.04 million last year, including a $6 million cash bonus and $1.25 million in salary.