Alphabet Inc. Confirms of Sundar Pichai Receiving $281 Million Compensation
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In a regulatory filing, Alphabet Inc. said Chief Executive Officer Sundar Pichai received $281 million in salary last year, making him one of the top-paid executives in the world.
The vast majority of the offer is equity awards, some of which will be paid out in comparison to other firms in the S&P 100 index, based on the Alphabet’s investment return. That means that his haul can be considerably smaller, or much larger. Pichai’s annual compensation in 2019 is $650,000, according to a proxy statement that files on Friday with regulators. The company states this year it raises to $2 million.
The CEO’s salary is 1.085 times Alphabet workers’ median overall salaries, the company also states in the filing. At the end of last year, Pichai took over from Larry Page as CEO of Alphabet as Page and co-founder Sergey Brin stepped away from the venture. The boss, 47, will now have to manage Alphabet via the coronavirus epidemic and economic recession. For the year, Pichai has already substantially cut back on recruiting and investment plans.
Alphabet’s board this year adjusted the companies it refers to when determining whether to assess pay. Although dropping HP Inc. and Qualcomm Inc., it introduced Netflix Inc., Comcast Corp. and Salesforce.com Inc. Apple Inc., Amazon.com Inc. and Facebook Inc. are on the list. Alphabet has also disclosed David Drummond’s wife’s salary. In September, Axios announced that Drummond, at the time the company’s chief legal officer, married another Google employee who had once worked in his legal department. Drummond’s spouse pays out in 2019 for around $197,000, the filing states. Earlier this year Drummond stood down.