Larry Page and Sergey Brin from Google announced earlier this month that they would step in as Alphabet executives, and that Pichai would become Google’s parent company chief executive. As Google CEO since October 2015, Pichai will stay in this role.
In his new role, he will be given a salary of $ 2 million, up from $ 650,000 in 2018. They will be given two installments of $ 45 million worth of performance-based stock units and an additional $ 120 million in restricted stock units to file the Securities and Exchange Commission accordingly.
The wage increase will be effective from January 1, 2020. The stock awards were all awarded on 19 December and will be completed by 2022.
Pichai’s last restricted stock award was in 2016. In May, Bloomberg reported that Pichai discontinued the stock award in 2018. Pichai received under $ 1.9 million in total compensation for 2018.
By comparison, Apple (AAPL) CEO Tim Cook received compensation of $ 15.7 million in 2018, with $ 3 million in salary.
Satya Nadella, CEO of Microsoft (MSFT) has produced growth of 66% in the last financial year of the company. The first year of benefits for Nadella’s $42.9 million was a sum of $25.8 million. He earned most of his income from equity grants for minimum profits in excess of $2.3 million.