Sundar Pichai, who is given an equity award every three years, was granted two tranches of PSUs with a target value of $63 million each.
Google-parent Alphabet Inc said today it had approved a new equity award for Chief Executive Officer Sundar Pichai that ties more of his pay to performance.
The board recognizes Sundar Pichai’s “strong performance” as CEO, the company said, adding that the vesting of a significant portion of the award would depend on Alphabet’s total shareholder return relative to other S&P 100 companies.
Alphabet said the award was tweaked to increase the performance stock units (PSUs) to 60% from 43% in 2019 while increasing the performance requirement for the payout.
Sundar Pichai, who is given an equity award every three years, was granted two tranches of PSUs with a target value of $63 million each.
The CEO was also given a grant of $84 million in the form of Alphabet’s restricted stock units.
source: NDTV
More Stories
Singapore Airlines Secures FDI Approval for Air India-Vistara Merger; Completion Expected by Year-End
MSCI India August Rebalancing: Major Stocks to Boost $5.5 Billion in Inflows
Gautam Adani Surpasses Mukesh Ambani as India’s Wealthiest in 2024 Hurun Rich List