Google's new pay deal would make Sundar Pichai one of the highest-paid Chief Executive Officers (CEO) in the world.
Under a new compensation plan published Friday by the US Securities and Exchange Commission, the CEO of Google and its parent company Alphabet could earn up to $692 million ( ₹ 6,361 crore) over the next three years, news agency AFP reported.
Pichai has been chief executive of Google since 2015 and of Alphabet since 2019. He currently earns an annual salary of $2 million, according to exchange filings.
Pichai's current net worth stands at $1.5 billion, according to Forbes Real Time Billionaires.
How does Sundar Pichai's pay compare with that of other Big Tech CEOs?
Pichai is not the only one making headlines for his extreme paycheck. Here's what other tech CEOs earn:
Sundar Pichai's pay deal
Under the plan, Pichai's three-year salary of $6 million, or $2 million per year, would remain unchanged, AFP reported.
The remainder of his compensation would be paid in the form of Alphabet stock, as well as shares in two subsidiaries - the autonomous vehicle company Waymo and the drone delivery service Wing.
The SEC filing suggested Pichai could receive about $130 million from Waymo and $45 million from Wing.
The allocation will depend on the performance of the shares and, for Alphabet, on the amount of dividends paid.
In the event of his dismissal, Pichai would forfeit all stock options that are not yet exercisable, according to the document.
"Current and previous incentives in Mr Pichai's compensation have benefited Alphabet and its stockholders significantly," the company said in the filing.
(With inputs from Forbes, Fortune, company filings and more)