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Google CEO Pichai receives record $199 million stock grant

He Received Restricted Stock Worth About $199 Million, According To A Regulatory Filing By Google Parent Company Alphabet Inc. The Valuation Is Based On The Stock's Closing Price On That Date.

News Nation Bureau | Edited By : Devika Chhibber | Updated on: 09 Feb 2016, 03:31:35 PM

New Delhi :

Google Chief Executive Sundar Pichai on Tuesday received a grant for 273,328 Class C Google stock units on Feb. 3.

He received restricted stock worth about $199 million, according to a regulatory filing by Google parent company Alphabet Inc. The valuation is based on the stock's closing price on that date.

The global tech giant leader took over in August. He first received a grant for 273,328 Class C Google stock units on Feb. 3. This was 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.

With the move, Pichai is likely to become one of the highest-paid executives of publicly-traded US firm this year.

Earlier, the company awarded $42.8 million (roughly Rs. 291 crores) in restricted stock to Diane Greene, former CEO of VMware, who is in charge of cloud business since November. Then, Ruth Porat, CFO of Alphabet, was also given $38.3 million (roughly Rs. 261 crores) worth of equity.

 

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First Published : 09 Feb 2016, 03:22:00 PM

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