Alphabet's Chief Executive to Receive Nearly $700 Million Compensation Deal

A newly unveiled compensation plan could see the CEO of Google and Alphabet, Sundar Pichai, earn a staggering $692 million over the next three years, as disclosed by the US Securities and Exchange Commission on Friday.

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This deal would catapult Pichai, who has been at the helm of Google since 2015 and Alphabet since 2019, to the ranks of the world's highest paid CEOs.

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According to the plan, Pichai's annual salary of $2 million, totaling $6 million over three years, will remain unchanged, with the remainder of his compensation taking the form of Alphabet stock.

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In addition to Alphabet stock, Pichai is also set to receive shares in two subsidiaries, namely the autonomous vehicle company Waymo and the drone delivery service Wing.

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The US Securities and Exchange Commission filing indicates that Pichai could receive approximately $130 million from Waymo and $45 million from Wing, with the actual allocation hinging on the performance of the shares and dividend payouts for Alphabet.

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In the event that Pichai is dismissed, he would have to forfeit all non-exercisable stock options, as outlined in the document.

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Alphabet noted in the filing that the current and past incentives in Pichai's compensation package have yielded significant benefits for the company and its stockholders.