After successful Q4 2015 earnings and a brief time as the most valuable company in the world, Alphabet is awarding Sundar Pichai and other top executives lucrative stock grants. Pichai’s award of 273,328 Class C shares worth $199 million would make him one of the highest-paid executives of a public company.
This is Pichai’s first award since becoming CEO of Google in August of last year. The awards come as Alphabet reported that revenue increased 18% to $21.3 billion. In an SEC filing, the company said that it grants equity awards to executives once every two years to encourage them to keep a long term perspective. Chief Financial Officer Ruth Porat also received $38.3 million, while recent hire Diane Greene also got $42.8 million. The stock options awarded to all three execs will vest every quarter through 2019.
Last year, Diane Greene was placed in charge of Google’s cloud and enterprise business. Earlier in 2016, she took on the responsibility of key Google apps after Clay Bavor became head of a new virtual reality division. Greene will play a key roll in monetizing Google’s cloud products. The company hopes that within five years its cloud business will be more profitable than its current advertising juggernaut.