Google, max salary of 226 million dollars for Sundar Pichai at Alphabet

Sundar Pichai, the chief executive of Alphabet, the holding company that owns Google, saw his total pay rise to $226 million last year, thanks to a giant stock bonus that likely made him one of the company’s leaders best paid americans of the year. The Wall Street Journal and the Financial Times report it. News of the stock award, which Google’s parent company awards to its CEO once every three years and which was valued at $218 million, the newspaper explains, follows the company’s move earlier this year. year of cutting jobs across industries due to a sharp slowdown in advertising. Pichai told workers at the time that executives would receive lower bonuses as part of the cost-cutting. Alphabet’s latest executive pay deals, finalized in December, before job cuts, show little impact from the crisis. Alphabet said it halved the value of a special class of executive bonuses linked to ESG (environmental, social and governance) objectives due to “macroeconomic conditions”. The cuts left the company’s senior executives with $775,000 less pay for 2022. Pichai’s previous stock award, awarded in 2019, was valued at $277 million at the time of the grant. However, the company said the target value it set for the latest CEO’s stock compensation was the same as the 2019 award. The valuation reported in the company’s official filings depends on a number of factors designed to estimate the value. final, such as the volatility of the stock price. The Alphabet chief’s pay package for 2022 could ultimately be worth much more than the figure cited in the latest filing. How many shares accrue over the three-year allotment will depend in part on the performance of Alphabet, which the company says now has a bigger weight in chief executive pay. The value will also depend on fluctuations in Alphabet’s share price. Under a new rule adopted by the Securities and Exchange Commission last year, US companies are required for the first time to disclose the actual value of previously awarded stock awards once they have accrued and executives have received the benefits. The new information shows that Pichai’s 2019 stock package earned him $504 million over the next three years, far more than the company’s ascribed value at the time of grant.