Feb. 4 (Bloomberg) — Google Inc. Chairman Eric Schmidt received a compensation package of more than $100 million, adding to his more than $10 billion in net worth, after the company's share price jumped to a record.
Schmidt will get an equity award of $100 million that will vest over four years beginning in May 2015, the Mountain View, California-based company said in a regulatory filing. He will also receive $6 million as a cash bonus later this month "in recognition of his contributions to Google's performance in fiscal year 2013," according to the filing.
Google's shares surged 58 percent last year, about double the gain in the Standard & Poor's 500 Index, as revenue climbed 19 percent. Schmidt, who stepped down as chief executive officer of the world's largest search engine in 2011, is the 15th richest technology executive in the world, with a net worth of $10.2 billion, according to the Bloomberg Billionaires Index.
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