| SAN FRANCISCO, April 20
SAN FRANCISCO, April 20 Google Inc's
former chief executive Eric Schmidt received a bump in his
annual salary to $1.25 million from the $1 he received in the
previous year, after he became the executive chairman of the
company in April 2011.
Schmidt's total compensation last year swelled to $101
million thanks to a previously announced equity award granted
when he ended a 10-year stint in the top job at Google,
according to a filing with the U.S. Securities and Exchange
Commission on Friday.
Schmidt ranked as the most highly compensated Google
executive in 2011 by a longshot, earning more than four times
the compensation of Google's next highest-paid executive.
Google co-founder Larry Page, who took the CEO reins from
Schmidt, and co-founder Sergey Brin each received a $1 base
salary in 2011, the same salary they have received every year
since 2004. Including holiday bonuses, the two co-founders each
received a total compensation of $1,786 in 2011.
The two co-founders each have a large portion of their
personal wealth tied directly to Google's stock.
As part of Schmidt's move to his new executive chairman role
last year, Google said that it was giving him a $100 million
equity award comprised of stock and stock options. The fair
equity value of the award was actually $93.8 million at the time
it was awarded, according to the proxy statement.
The award vests over a four year period, but Google reported
the award in the year in which it was granted.
His compensation includes the base salary, a bonus and other
Schmidt helped transform Google into the world's largest
search engine, generating roughly $38 billion in revenue last
Google's Chief Business Officer Nikesh Arora was the second
highest-paid executive at Google in 2011, with a total
compensation of $23.2 million, up from $22.6 million the year