Alphabet increased Google CEO Sundar Pichai’s total potential pay to $692 million over the next three years, making him one of the best-paid chief executives in the world, Financial Times reported on Saturday.
The bulk of Pichai’s package comes in performance stock units with a target value of $126 million split evenly into two tranches, the company said on Friday. The PSUs are valued by parent company Alphabet’s total shareholder return compared with the rest of the S&P 100 and could pay out as much as twice the target, or $252 million, if it outperforms significantly or nothing if it lags behind.
Pichai will also get $84 million in restricted stock over the next three years, vesting roughly on a monthly basis so long as he remains at the company, and an annual salary of $2mn.
Google added a pair of new stock incentives worth as much as $350 million linked to the growth of its Waymo self-driving taxi arm and Wing drone delivery start-up.
That gives the CEO a maximum payout of $692 million if he exceeds expectations, with a baseline amount of $391 million in stock and salary.
