Alphabet, Google's parent company, once again awarded CEO Pichai equity incentives, but further linked to performance

According to news in the morning of December 22, Alphabet, Google's parent company, said on Wednesday that it had approved a new equity incentive for CEO Sandal Sundar Pichai, while further linking his compensation to performance.

Alphabet said the board recognized Mr Pichai's "strong performance" during his tenure as chief executive and that much of the new equity incentive would be attributed to Alphabet's total shareholder returns relative to other S & P 100 companies.

Alphabet also said that the main adjustment to the equity incentive was to increase the proportion of performance incentives (PSU) to 60 per cent from 43 per cent in 2019, while also setting higher performance requirements.

Pichai is awarded an equity incentive every three years. He had previously received two PSU deals, each with a target value of $63 million. He also got $84 million of Alphabet restricted shares at the same time.