Google CEO Pichai paid US$100.5 million for first year at the helm

Sundar Pichai, chief executive officer of Google Inc, smiles during an event in San Francisco, California, US.
Sundar Pichai, chief executive officer of Google Inc, smiles during an event in San Francisco, California, US.PHOTO: BLOOMBERG

SAN FRANCISCO (BLOOMBERG) - Google Chief Executive Officer Sundar Pichai received a US$100.5 million (S$137.7 million) pay package in 2015, according to a filing from parent company Alphabet Tuesday.

Mr Pichai received US$99.8 million in restricted stock that will vest in full by 2017. He also received a US$652,500 salary. The stock award hasn't previously been disclosed in filings.

The former deputy of co-founder Larry Page was named to run the search engine unit following the reorganisation into a holding company last year. Following that promotion, Alphabet in February awarded him restricted shares valued at US$199 million, the largest grant ever given to a Google executive officer whose pay has to be reported in filings.

The two grants have brought Mr Pichai's holding of unvested restricted shares to US$635 million as of Monday's close in New York, according to data compiled by Bloomberg. He also holds unvested stock options valued at US$11.6 million.

Alphabet typically grants equity awards to executives once every two years, a strategy it has said "encourages executives to take a long-term view of the business."

Executive Chairman Eric Schmidt received US$8.04 million for 2015, including a US$1.25 million salary and US$6 million cash bonus. Chief Financial Officer Ruth Porat was awarded US$31 million, including US$25.1 million in restricted stock.

An Alphabet spokesman didn't immediately respond to a request for comment.