Eric Schmidt bonus will come in the form of a $6 million cash bonus and $100 million in Google’s restricted stock. Schmidt’s $100 million of Google stock will start a four-year vesting period in May of 2015. He also previously received an award of $100 million in restricted stock from Google for his leadership and to keep him on as executive chairman when he gave the CEO position up to current Google CEO Larry Page, the Huffington Post notes.
During his time as Google’s CEO, Eric Schmidt limited his annual salary to $1 when the company went public in 2004. He also only allowed himself to be awarded up to $2,000 in bonuses in a year’s time. Page has followed a similar path, limiting his salary to $1 a year and not taking any bonuses, the Huffington Post notes.
When Eric Schmidt left Google as a CEo and started as an executive chairman, his annual salary jumped from $1 to $1.25 million.
GOOG stock was up 1% as of Wednesday afternoon.