Andy Jassy, a longtime Amazon exec who became the company’s CEO last summer, received $212.7 million in total compensation in 2021, according to an SEC filing.
The pay package, virtually all of it in the form of a stock award, was roughly six times what he received in 2020, $35.8 million. Jassy had previously been CEO of the tech giant’s web services division.
In the filing, Amazon said Jassy was awarded $211.9 million in stock when he was promoted to CEO in July 2021. The award vests over 10 years “and is expected to represent most of Mr. Jassy’s compensation for the coming years,” the company said. If Jassy were to leave Amazon before that 10-year period elapses, he is not contractually guaranteed to receive the balance of the stock award.
Amazon’s business boomed during the coronavirus pandemic and has continued to thrive as much of the world has started to emerge from Covid’s shadow. The company recently set a 20-for-1 stock split as well as a $10 billion buyback of shares. Shareholders will need to approve the split during the company’s annual meeting, which has been scheduled for May 25.
Executive compensation in the media and tech ranks appears to have risen across the board in 2021, with nine-figure packages no longer unusual. Discovery chief David Zaslav and Endeavor boss Ari Emanuel are two recent recipients of large paychecks, though their announced compensation is tied to stock performance milestones.
Amazon’s founder and longtime CEO Jeff Bezos passed the baton to Jassy last year but stayed on as executive chairman. His total compensation stayed level from year to year, at abut $1.7 million. He has a 10% stake in Amazon, but has also netted billions from selling shares recently.
Adam Selipsky, who joined Amazon last year and succeeded Jassy as head of AWS, made $81.5 million in 2021. David Clark, CEO of the worldwide consumer division, saw his pay rise to $56 million from $46.3 million in 2020.
CFO Brian Olsavsky’s pay went in the opposite direction as that of most top-level colleagues. In 2020, he got $17.2 million, but his total pay dropped to $163,200 in 2021.
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