Google parent company Alphabet Inc (NASDAQ:GOOGL) awarded CEO Sundar Pichai restricted stock worth $199 million. With the new RSUs in his pocket, Pichai is poised to become one of the highest-paid executives of a publicly traded company, says a report from Bloomberg.
Record stock grant to Pichai
In a filing on Friday, Alphabet stated that Pichai received 273,328 Class C shares on Feb. 3, which will vest in quarterly increments through 2019, provided he remains at the company. Pichai was the former deputy of Google co-founder Larry Page and was named to run the search engine unit in the corporate restructuring last year.
According to data compiled by Bloomberg, the award is the highest ever given to a Google executive officer, whose equity grants have to be reported in regulatory filings. This is the biggest award Pichai has received since taking over the highest grossing unit of the company. With this grant, the value of his equity stake in Alphabet has risen to more than $600 million. Pichai has been one of the driving forces