Tech

Alphabet ties CEO Sundar Pichai’s payout more to his performance in new equity award


Alphabet, Google’s parent company, said Wednesday that it has approved a new equity award for CEO Sundar Pichai, which ties more of his salary to performance.

Board of Directors recognized PichaiThe company said his “strong performance” as CEO, adding that the awarding of a significant portion of the award will depend on Alphabet’s total shareholder return relative to other companies. other S&P 100 companies.

Alphabet says the award has been adjusted to increase performance stock units (PSUs) to 60% from 43% in 2019, while also increasing the performance requirements for payouts.

Pichai, who is awarded the equity award every three years, has been issued two installments of PSUs with a target value of USD 63 million (approximately Rs 520 crore) each.

The CEO has also been granted a grant of US$84 million (Rs 694 crore) in the form of Alphabet limited stock units.

Meanwhile, the German cartel office speak on Wednesday that it ended proceedings against Google via its online news service after the tech giant made some changes in favor of publishers.

The office said Google had abandoned plans to integrate Google News Showcase into general searches and changed its contractual practices to ensure publishers had no difficulty asserting their ancillary copyrights against potential publishers. their concerns. Publisher participation in News Showcase will continue to have no impact on search results, the office added.

The cartel office said Google will take further measures in the coming weeks, including providing more information about the Showcase, and that it will continue to monitor this development.

Under the expanded powers that went into effect last year, the cartel office has received lawsuits involving several tech giants, including Amazon, Apple and Facebook boss meta.


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