Alphabet Inc., parent company of Google, announced today that it has approved a new equity award for Sundar Pichai, the chief executive officer, that more closely links his remuneration to performance.
According to the company, the board acknowledges Sundar Pichai’s ‘strong performance’ as CEO. It also stated that a significant portion of the award’s vesting would depend on Alphabet’s total shareholder return in comparison to other S&P 100 companies.
Alphabet further informed that, the award was changed to enhance the performance stock units (PSUs) from 43% in 2019 to 60% while lowering the payout performance criteria.
Every three years, Sundar Pichai receives an equity award. He was recently given two tranches of PSUs, each with a target value of $63 million.
Alphabet’s restricted stock units worth $84 million were also granted to the CEO.
Post Your Comments