Alphabet and Google’s CEO Sundar Pichai is given an equity award every three years regarding his performance
Google’s parent company on Wednesday announced that it has approved after the board meeting a new equity award for Chief Executive Officer Sunder Pichai that links more of his pay to his performance.
The board has conveyed that it recognizes Pichai’s strong and efficient performance as Chief Executive Officer. adding that a significant portion of the award would depend on Alphabet’s total shareholder return relative to other S&P 100 companies.
Sunder Pichai was awarded or granted two tranches of performance stock units(PSUs) with a target value of $63 million. The dynamic CEO was also given a grant of $84 million in Alphabet’s restricted stock units
Alphabet have communicated that the award was twisted to increase the performance stock unit (PSU’s) to 60% from 43% in 2019 while increasing the performance payout for retirement
The CEO Sundar Pichai has grown the company multiple fold from the day he assumed the office. He has been given an equity award every three years regarding his performance.
Sundar Pichai was also awarded India’s third-highest civilian award in the presence of his close family members and friends in san Francisco last Friday.