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Google's top executives only earn $1 a year

Posted on Wednesday, January 25 2006 @ 01:20:20 CET by


Larry Page and Sergey Brin, Google's co-founders and co-presidents, along with Chairman and CEO Eric Schmidt, agreed once again to be paid a annual salary of only $1 each in 2006.

Instead, they count on stock options and grants of the company's volatile stock for their pay.
The practice of paying the top Google executives $1 per year in base salary started in the second quarter of 2004, during the run-up to the company's initial public offering in August 2004, according to the company's regulatory filings.

Previously, Schmidt had earned $250,000 and Brin and Page had been paid about $150,000 in salary, even as they accumulated stock options that have made them billionaires, at least in the potential value of their shares and options.
More details over at ZDNet.


 



 

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