Google parent Alphabet discloses how much it compensated CEO Sundar Pichai in 2022
Google reported his salary for the year came in at $2 million
Pachal weighs in on issues surrounding Google's AI chatbot Bard
Tech analyst and Coindesk Chief of Staff of Content Pete Pachal discusses Google's Bard and the scrutiny facing the search engine's AI chatbot.
Google parent Alphabet on Friday disclosed how much compensation it gave CEO Sundar Pichai for the prior year.
Pichai’s 2022 pay totaled approximately $226 million. The tech giant included the information in its latest proxy statement filed with the Securities and Exchange Commission (SEC).
Of the roughly $226 million in Pichai’s total compensation, he got about $218 million’s worth of stock awards. That, according to the SEC filing, came on top of his $2 million salary as well as almost $5.95 million in "all other compensation."
Google CEO Sundar Pichai (Reuters / Brandon Wade / File / Reuters Photos)
Pichai’s CEO stock awards take place on a triennial basis. The one he received in 2022 had the same on-target value of the one he received in 2019, though the latest one also saw an increased percentage of performance stock units (PSU) and a higher performance requirement for on-target PSU payout, things a Google spokesperson pointed to in an 8-K filing when reached for comment.
FILING REVEALS EYE-POPPING AMOUNT FORMER DISNEY EXECUTIVE EARNED DURING HIS BRIEF TENURE
The "all other compensation" section counted $5.935 million for "personal security" for Pichai and "generally consists of our 401(K) plan or Roth plan company match of up to $10,250 and personal use of company aircraft, unless otherwise noted," Google said in the Friday proxy statement.
In 2021, Pichai earned $6.3 million. His compensation in the year prior to that was $7.4 million. His salary for both of those years was $2 million as well, meaning it has stayed flat.
Google parent Alphabet on Friday disclosed how much compensation it gave CEO Sundar Pichai for the prior year. (AP Photo / Jeff Chiu / File / AP Newsroom)
His total compensation was $280.6 million in 2019, the most recent year prior to 2022 that he received stock awards, according to 2020 SEC filing.
GOOGLE'S SUNDAR PICHAI REPORTEDLY SAYS YEARLY BONUSES OF EXECUTIVES WILL SEE ‘VERY SIGNIFICANT’ CUTS
Google said Pichai’s compensation in 2022 represented a 808:1 ratio to what the median employee made. The company pegged $279,800 as the median for all employees.
The company revealed in January it would be trimming its headcount by 12,000, with Pichai saying in a memo posted on Google’s website at the time that it "hired for a different economic reality than the one we face today" after seeing "periods of dramatic growth" over two years.
The company’s next quarterly financial results are slated for release Tuesday afternoon. (Tim Clayton / Corbis via Getty Images / File / Getty Images)
In February, Alphabet reported generating $282.8 billion in total revenues for fiscal year 2022, up 10% from the $257.6 billion reported in the same period last year. Its net revenue, meanwhile, went from $76 billion to $60 billion, a roughly 21% decline.
GOOGLE PARENT COMPANY ALPHABET TO ELIMINATE 12,000 JOBS
The company’s next quarterly financial results are slated for release Tuesday afternoon.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 175.58 | -3.30 | -1.84% |
Pichai’s tenure as CEO of Google has spanned about eight years so far, with him having joined it nearly two decades ago. He took on Alphabet’s chief executive role roughly four years ago, in late 2019.