New Delhi, March 7: Google, a wholly-owned subsidiary of Alphabet, has raised CEO Sundar Pichai’s total potential compensation to $692 million over the next three years, making him one of the highest-paid executives globally, the Financial Times reported on Saturday.
The bulk of the package comes from performance stock units (PSUs) valued at $126 million, split evenly into two tranches, the report mentioned. These PSUs are linked to Alphabet’s total shareholder return relative to the S&P 100, and could double to $252 million if performance targets are exceeded, or yield nothing if benchmarks are missed. Moreover, Pichai will receive $84 million in restricted stock vesting monthly over three years, alongside an annual salary of $2 million, said the report. The tech giant also introduced new stock incentives totalling up to $350 million, tied to the growth of its autonomous ventures. The Google CEO will receive $130 million in Waymo stock and $45 million in Wing Aviation shares, both capable of paying out up to 200 per cent of their target value, according to the report.