Believe it or not, this is the second $100M stock award that Google has given Eric Schmidt — he scored his previous one in 2011, and it isn’t fully vested yet. But the board’s Leadership Development and Compensation Committed approved another one on January 29, the company disclosed today in an SEC filing, as well as $6M in cash to be paid on February 14 “in recognition of his contributions to Google’s performance in fiscal year 2013.” He’ll receive the restricted stock units on February 5 and they’ll vest over a four-year period that begins May 2015. The company will determine the precise number of shares Schmidt will receive by dividing $100M by Google’s stock price on February 4. Schmidt’s wealth comes almost entirely from his Google shares: His compensation in 2012 was $7.6M. But the company picked up a $316,778 tab for personal security and $14,018 “for costs related to aircraft chartered for Google business on which family and friends flew in 2012,” according to its proxy statement. Google’s stock price appreciated about 60% last year while the benchmark Standard & Poor’s 500 rose about 30%.
Google Gives Chairman $100M+ Bonus
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