Google CEO Sundar Pichai receives stock options worth $199 MILLION

 

Google chief executive Sundar Pichai(43) has been awarded restricted stock worth $199 million - making him one of the highest-paid directors of any public company.

The $199 million is the sum of 273,328 Class C shares.

The move, revealed in a  public filing on Friday Feb 05,2016, came at the same time parent company Alphabet overtook Apple to be the world's most valuable company. 

It is the most lucrative award ever handed to a Google executive, according to a Bloomberg data analysis.

Sundar Pichai, who was promoted from Larry Page's deputy to Google CEO over summer, was awarded the restricted stock on February 03,2016

Google's Sundar Pichai becomes highest paid CEO in the US

Google Chief Executive Sundar Pichai received restricted stock worth about $199 million, according to a regulatory filing by Google parent company Alphabet Inc, which makes him the highest paid CEO in the US.Pichai, who took over in August, received a grant for 273,328 Class C Google stock units on February 03,2016

The valuation is based on the stock's closing price on that date

On the same day, Pichai sold 375 Class A common shares at a price of $786.28 each, and 3,625 Class C capital stock at a price of $768.84 each, the filing said.

The shares make Pichai's holdings in parent company Alphabet to around $650 million which is still less than the net worth of Google's founders Larry Page and Sergey Brin who are worth $34.6 billion and $33.9 billion respectively according to Forbes. Even Google's former CEO Eric Schmidt holds shares worth $3 billion.

A report on The Guardian notes that Indian-origin Pichai is not the only Google executive to be given a big payday. Alphabet's CFO Ruth Porat was handed shares worth $38 million which is on top of the $30 million signing bonus she received when she was poached away from Morgan Stanley last year.