Alphabet CEO Sundar Pichai gets $242-million package

Sundar Pichai is getting a huge salary.

New Alphabet Inc. The chief executive will receive $ 240 million in stock awards over the next three years if he hits all of his performance targets, plus a $ 2 million annual salary starting in 2020, the firm said in a filing Friday.

If Alphabet outperforms the S&P 100 index, Pichai could receive an additional $ 90 million in stock grants. This is the first time the company has given performance-based stock awards.

47-year-old Pichai was named to the top job this month after Google co-founders Larry Page and Sergey Brin stepped down as leaders of Mountain View, a California-based firm.

Pichai is no stranger to mass compensation. The engineer received approximately $ 200 million in stock awards in 2016, which has since vested. Last year, he turned down the grant of restricted stock because he said he felt he had already been paid handsomely, according to a person familiar with the decision.

its total compensation for 2018 was $ 1.9 million according to the Bloomberg Pay Index.

Internal crackdown

At a staff meeting this year, a Google worker asked why Sundar Pichai was paid so much while some employees struggle to stay in Silicon Valley, people familiar with the matter said at the time. Tensions between activists and management have increased recently after internal protests.

Growing up in India, Pichai holds degrees from Stanford University and the Wharton School of the University of Pennsylvania. after He joined Google in 2004 a season and quickly took responsibility for few of his hottest products, including Gmail, the Chrome browser, and therefore the Android OS. On 3

December,Sundar Pichai replaced Page as CEO and Brin stepped down as president.

Both Brin and Page, 46, each own about 6% of the vastness of internet-search and control the alphabet through special voting shares.