The Chief Executive Officer of Google and its parent company, Alphabet, Sundar Pichai, could earn up to $692 million over the next three years under a new compensation plan disclosed by the company.
Details of the package were published on Friday in a filing submitted to the US Securities and Exchange Commission (SEC), potentially placing Pichai among the highest-paid CEOs globally.
Under the plan, Pichai’s base salary will remain unchanged at $2 million per year, amounting to $6 million over the three-year period.
The bulk of the compensation will be tied to stock-based incentives, including Alphabet shares and stakes in two of the company’s subsidiaries — the autonomous vehicle firm Waymo and the drone delivery service Wing.
mpanyording to the filing, Pichai could receive approximately $130 million linked to Waymo and about $45 million connected to Wing, depending on the performance of the shares.
The document also indicated that the final value of the package would depend on Alphabet’s stock performance and the dividends paid to shareholders.
In the event that Pichai is dismissed, the filing states that he would lose any stock options that have not yet become exercisable.
“Current and previous incentives in Mr Pichai’s compensation have benefited Alphabet and its stockholders significantly,” the company said in the filing.
