Sundar Pichai is getting a hefty pay raise.
The new Alphabet Inc. chief executive officer will receive $240 million in stock awards over the next three years if he hits all of his performance targets, as well as a $2 million annual salary beginning in 2020, the firm said Friday in a filing.
If Alphabet shares outperform the S&P 100 Index, Pichai could receive an additional $90 million in stock grants. It is the first time the company has bestowed performance-based stock awards.