Alphabet announced Friday in a filing that it compensated CEO Sundar Pichai $226 million for 2022.
. His annual salary for last year was $2 million. As for the stock awards, in December the company reported a new triannual stock grant to Pichai valued at $210 million based on both performance and time. For 2021, the executive's triannual stock award wasn't part of his compensation and he received $6.3 million in total pay for that year.
The 2022 stock award includes two tiers of performance stock units with a target value of $63 million each. Another $84 million in Alphabet restrictive stock units is part of the grant. The filing in December said that 60% of Pichai's stock award would be made up of the company's performance stock units which is a higher percentage than seen in previous years.
But this past January Pichai said that in an effort to cut costs, Alphabet executives would receive lower bonuses. Google recently announced plans to lay off a company record 12,000 jobs worldwide, 6% of the company's global headcount. Despite the lay offs, the company's finance chief recently warned employees that additional spending cuts are coming.
Other Alphabet executives receive annual stock grants instead of every third year like Pichai, but their total compensation is much lower . Both Prabhakar Raghavan, Google's senior vice president of knowledge and information, and Philipp Schindler, chief business officer, received $37 million in compensation for 2022. Chief Financial Officer Ruth Porat received $24.5 million in compensation for last year.For 2022, Alphabet reported revenue of $282.
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