Alphabet Gives New CEO Its Biggest Stock Award

Google's parent company has welcomed its new CEO with $240 million in stock grants, plus a pay raise to $2 million a year. Sundar Pichai's stock package, $90 million of which is based on Alphabet's performance, sets a company record, Reuters reports. Still, "it's behind Tim Cook’s grant of $376 million when he took over Apple," an analyst said. The salary is a jump from the $1 paid last year to Larry Page for doing the job. The company said in a filing with the SEC said the pay package is in line with Pichai's "expanded role as CEO of Alphabet and Google." He'd been making $650,000 as Google's CEO, per MSN.

But stock grants have already pushed Pichai's net worth near the $1 billion mark, per the Verge. Relations between management and employees have been tense, and it's not clear how Google workers will react to the compensation package. A 20,000-employee walkout followed a $90 million deal given Andy Rubin, an Android co-founder, on his way out after he was accused of sexual misconduct. (More Google stories.)