The $199 million stock which Google has given Pichai at the grant price is worth $650 million (Rs 4,100 plus crore) in the market |
February 9, 2016, NewsCrunch
Sundar Pichai, the man from Chennai, who heads Google has received a salary boost that makes him the highest paid executive in the
Here is what he has got in Indian rupees.
Google has given its CEO Sundar Pichai stock grant of $199m (Rs 1,350 crore).
The $199 million stock which is given to him at the grant price is worth $650 million (Rs 4,100 plus crore) in the market at the current share price.
This stock will vest over three years and if the current share price holds good and if Pichai sells it he will be richer by Rs 4,100 plus crore.
The $199 million stock grant is on top of his annual salary, details of which have not been disclosed till now as he took up the job only last October.
In the coming months, Google would have to disclose the annual salary in the statutory filings.
So, why did Google give Pichai the new stock? It does that to its senior executives every two years to keep them motivated.
It also ensures stability at top, as Pichai is likely to stay for at least three years for the socks to vest.
It had given Pichai a stock grant of 50 million dollars in 2011 when Twitter was trying to hire him.