Alphabet announces $242 million pay package for Sundar Pichai
Sundar Pichai, who is now the CEO of Alphabet Inc. will be given $240 million in stock awards for the coming three years if he hits all of his performance targets, as well as a $2 million annual salary beginning in 2020, the firm informed.
If the company shares exceed the S&P 100 Index, Pichai could even get an extra $90 million in stock grants, the company further said in a statement.
Pichai, 47, was named to the top job this month after Google co-founders Larry Page and Sergey Brin stepped down as leaders of the Mountain View, California-based firm.
Pichai received about $200 million in stock awards in 2016, which have since vested. In 2018, he turned down a grant of restricted stock because he said he felt he was already paid generously, according to the sources.
His total compensation for 2018 was $1.9 million, according to the Bloomberg Pay Index.
At a staff meeting this year, one Google worker asked why Pichai had been paid so much while some employees struggle to afford to live in Silicon Valley, sources revealed.
Tensions between workers and management have heated up lately after internal protests sparked a crackdown.