After informing employees that it wouldn’t automatically adjust salaries to account for inflation, Google is giving four of its top most senior executives a significant pay hike, raising their base salaries from $650,000 to $1 million.
The new pay packages for chief financial officer Ruth Porat senior vice president Prabhakar Raghavan senior vice president and chief business officer Philipp Schindler and Kent Walker, president of global affairs and chief legal officer, have been disclosed in a latest agency filing with the US security and exchange commission.
The base salaries of each of Porat, Raghavan, Schindler, and walker will be increased from $650,000 to $1,000,000.
All four executives are eligible to participate in a maximum $2,000,000 annual bonus program, based on contributions to Google performance against social and environmental goals for 2022.
Each person has also been granted stock awards with target values in the millions of dollars.
Porat will be granted one tranche of performance stock units with a target value of $5,000,000 and one tranche of restricted stock units in the amount of $18,000,000.
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Raghavan will be granted one tranche of PSUs with a target value of $12,000,000 and one tranche of GSUs in the amount of $23,000,000 according to the filing.
While Schindler will be granted one tranche of PSUs with a target value of $12,000,000 and one tranche of GSUs in the amount of $23,000,000 walker will be granted one tranche of PSUs with a target value of $5,000,000 and one tranche of GSUs in the amount of $18,000,000.
The pay hike for top executives came as a top Google executive said in December that the tech giant would not automatically adjust all employee salaries to account for inflation.
