Google awards $100 million to Eric Schmidt
NEW YORK — Google says it has awarded $100 million worth of equity to outgoing CEO Eric Schmidt.
Google Inc. said in a filing on Monday the stock and stock options will be granted on Feb. 2 and will vest over four years.
The 55-year-old Schmidt is being replaced as Google's CEO by co-founder Larry Page. Both men, along with Google's other co-founder Sergey Brin, have limited their salaries to $1 for years. But the three are Google's controlling shareholders.
Schmidt will stay with Google and serve as executive chairman starting in April, when the 37-year-old Page takes over the CEO role.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.