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Google Gives Outgoing CEO $100 Million

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Google is giving outgoing CEO Eric Schmidt an equity award package of US$100 million, reports Bloomberg, citing a person familiar with the matter. This is the first time Schmidt has received such an award during his ten-year-long stint at the technology company.

The award includes stock units and options that will vest over four years, Bloomberg said.


Schmidt owned about 9.2 million shares of Google stock as of 31 December, controlling 9.6% of the company. He plans to sell about 534,000 shares, valued at US$326.7 million, which will bring his controlling stake to about 9.1%, according to reports on Bloomberg and Reuters.

[via Bloomberg]
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