© Reuters. FILE PHOTO: Google CEO Sundar Pichai speaks throughout signing ceremony committing Google to assist develop info know-how training at El Centro School in Dallas, Texas, U.S. October 3, 2019. REUTERS/Brandon Wade/File Photograph
(Reuters) – Google-parent Alphabet (NASDAQ:) Inc stated on Wednesday it had authorised a brand new fairness award for Chief Govt Officer Sundar Pichai that ties extra of his pay to efficiency.
The board acknowledges Pichai’s “robust efficiency” as CEO, the corporate stated, including that the vesting of a good portion of the award would depend upon Alphabet’s complete shareholder return relative to different S&P 100 firms.
Alphabet stated the award was tweaked to extend the efficiency inventory items (PSUs) to 60% from 43% in 2019, whereas growing the efficiency requirement for the payout.
Pichai, who’s given an fairness award each three years, was granted two tranches of PSUs with a goal worth of $63 million every.
The CEO was additionally given a grant of $84 million within the type of Alphabet’s restricted inventory items.
