Google Salary Package: Google is going to increase the salaries of its four most senior executives, raising their basic salary from $ 650,000 to $1 million. Meaning their package has been increased from about Rs 4 crore 84 lakh to about Rs 7 crore 44 lakh. Chief Financial Officer Ruth Porat, Senior Vice President Prabhakar Raghavan (in charge of Google Search), Senior Vice President and Chief Business Officer Philip Schindler and Kent Walker, President and Chief Legal Officer of Global Affairs Unveil a New Package for the US Securities and Exchange Commission (SEC) ) in a new company filing.
“Effective January 2022, the basic pay of Porat, Raghavan, Schindler and Walker will each be increased from $650,000 to $1,000,000,” Google said in the filing. According to the filing, all four executives are eligible to “participate in a bonus program up to $2,000,000 annually, based on contributions to Google’s performance of social and environmental targets for 2022.”
Each individual has been awarded stock awards with target values in the millions of dollars. Porat will be awarded one tranche of Performance Stock Units (“PSUs”) with target values of $5,000,000 and one tranche of Restricted Stock Units (“GSUs”) amounting to $18,000,000.
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According to the filing, Raghavan will be given one tranche of PSUs with target values of $12,000,000 and one tranche of GSU in the amount of $23,000,000.
Whereas Schindler would be given one tranche of PSU with target values of $12,000,000 and one tranche of GSU amounting to $23,000,000, Walker would be given one tranche of PSU with target values of $5,000,000, and one tranche of GSU amounting to $18,000,000. will be given.
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The pay hikes for top executives came after a top Google executive said in December that the tech giant would not automatically adjust wages for all employees according to inflation.
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