Philipp Schindler Among Google’s Most Highly Compensated Execs In 2020
The tech giant paid $5.4 million for personal security last year for Alphabet and Google CEO Sundar Pichai, up from $3.33 million in 2019.
Google chief business officer Philipp Schindler topped the list for the technology giant’s executive officer total compensation packages last year, earning more than $66.38 million in salary, stock awards and other perks, according to a new regulatory filing.
Schindler earned a $655,000 salary, stock awards valued at $65.5 million and $226,816 in other compensation, with the latter including $215,660 for personal use of aircraft chartered by the company, according to a proxy statement filed by parent company Alphabet with the U.S. Securities and Exchange Commission. Schindler, a senior vice president, oversees global and regional sales activities for Google and YouTube, global technical and consumer support and operations, and partnership and business development teams across key product areas.
In May 2020, Alphabet granted biennial Google stock equity awards that vest over a four-year period to Schindler and executives Ruth Porat, Prabhakar Raghavan and Kent Walker based on Alphabet’s overall business performance, each officer’s individual performance in leading their respective organizations, their overall role scope, and market benchmarks against Alphabet competitors. Excluding stock awards, Alphabet and Google CEO Sundar Pichai reported the highest annual salary.
Raghavan, who has led Google Search since last year, earned more than $55.25 million in total compensation in 2020: a $655,000 salary, stock awards valued at more than $54.58 million and $9,750 in other compensation. In addition to search, Raghavan, a Google senior vice president, is responsible for Google Assistant, Geo, Ads, Commerce and Payments products.
Total compensation for Porat, chief financial officer for Alphabet and Google, exceeded $50.89 million. Her salary increased to $655,000 last year from $650,000 in 2019. She also earned stock awards valued at more than $50.21 million and $17,770 in other compensation. Porat, who has been CFO since 2015, is responsible for finance, business operations and real estate and workplace services.
Walker, Google’s chief legal officer and senior vice president of global affairs since June of 2018, earned total compensation of more than $50.88 million in 2020. That include a $655,000 salary, more than $50.21 in stock awards and $9,750 in other compensation. Walker oversees teams responsible for content policy, government affairs, legal matters, philanthropy and responsible innovation.
Pichai, meanwhile, earned more than $7.42 million in total compensation last year. That included a salary boost to more than $2.01 million after he took on the added Alphabet CEO role in December 2019. Pichai earned $5.41 million in other compensation, which included $5.4 million for personal security, up from $3.33 million in 2019.
Since Google designs its equity stock awards to cover multi-year periods to reward long-term performance, an executive officer may not receive stock awards every year. Pichai’s total compensation had exceeded $280.62 million in 2019, when he was granted stock awards valued at more than $276.61 million.
Alphabet, which last year reported more than $182.52 billion in revenue and net income of $40.26 billion, this month granted new performance-tied stock awards to Schindler, Porat, Raghavan and Kent that would vest, if at all, on Dec. 31, 2023, based on the total shareholder return performance of Alphabet compared to companies in the S&P 100 from 2021 to 2023. It also plans to introduce a new bonus program for members of Google’s senior executive team next year under which payouts will be determined in part by performance tied to its environmental, social, and governance goals.
“The bonus program will be designed to increase focus on creating lasting, meaningful change,” Alphabet said in its proxy statement.