Bruce Wolpe - Australia's taxpayer funded anti-Trump mouthpiece
The "fantasy" of Gillard's Gonski funding

Google's CEO took home $267M pay last year

Sundar-pichai_650x400_81439245450

(Sundar Pichai - Google CEO who took home $267M pay last year)

 

Last Friday 28 April Google's parent company "Alphabet" filed its "Notice of 2017 Annual Meeting
of Stockholders and Proxy Statement" with the US corporate regulator.

https://www.sec.gov/Archives/edgar/data/1652044/000130817917000170/lgoog2017_def14a.htm

The agenda items for its AGM are neatly listed - along with supporting data.

And there among the details is the 2016 actual take home pay for Google's chief executive Sundar Pichai - an incredible $200M USD (about $267M AUD).

Last year he took home $100M.

Here's a direct lift from the statement covering his base salary, stock issued to him and the total in the right hand column.

 

Sundar Pichai

2016

650,000

198,695,790

 

199,718,200

 

Chief Executive Officer, Google

2015

652,500

99,829,142

 

100,632,102

 

 

And he needn't worry about shareholder approval - what the bosses of Google want, they get.  

More than 58% of the voting stock in the company is held by founders Larry Page and Sergey Brin along with their senior executives.  But that hasn't stopped some minor shareholders putting up proposals to be knocked back, including:

Stockholder Proposals:

 

 

 

 

(6)

Stockholder proposal regarding equal shareholder voting

 

AGAINST

 

61

(7)

Stockholder proposal regarding a lobbying report

 

AGAINST

 

63

(8)

Stockholder proposal regarding a political contributions report

 

AGAINST

 

65

(9)

Stockholder proposal regarding a report on gender pay

 

AGAINST

 

67

(10)

Stockholder proposal regarding a charitable contributions report

 

AGAINST

 

69

(11)

Stockholder proposal regarding the implementation of “Holy Land Principles”

 

AGAINST

 

71

(12)

Stockholder proposal regarding a report on “fake news”

 

AGAINST

 

73

The "AGAINST" column reflects the major shareholders views - in other words there's buckleys and none of any proposals but their own getting up.

There are some fascinating snippets throughout the report

Corporate Use of Personal Aircraft

Eric E. Schmidt beneficially owns 100% of one aircraft and 33% of another aircraft, both of which are used by Eric and our other executive officers from time to time for business trips. The reimbursement rate for use of these aircraft is $7,500 per hour. In 2016, we used these aircraft for business-related travel services for certain of our executive officers, including Eric, and we reimbursed Eric approximately $1,908,750. 

Lobbying

The Benedictine Sisters of Baltimore, The Benedictine Sisters of Pan de Vida and other organizations want Alphabet/Google to do a better job of disclosing the amounts it spends lobbying politicians - here's part of their proposal:

Alphabet spent approximately $80 million between 2010 and 2015 on federal lobbying, according to Senate reports. And this figure may not include grassroots lobbying to influence legislation by mobilizing public support or opposition and does not include lobbying expenditures to influence legislation in all states.

Political donations

Shareholders John Fedor-Cunningham and Benedictine Sisters of Mount St. Scholastica (canny investors those nuns) are concerned about political donations.

According to the Center for Responsive Politics, in the last decade, Alphabet gave nearly $3 million to federal candidates; $788,000 to committees; and $275,000 to national parties. According to the National Institute for Money in State Politics, from 2009 through 2014, Alphabet contributed more than $4 million to candidates and committees in state and local races. These figures do not include the undisclosed amounts that Alphabet may be contributing to so-called “dark money” nonprofits such as:

 

Trade associations 
   
Other third-party organization, such as 501c4s 
   
Other independent expenditures 

 

These activities invite legal and reputation risk, and contribute to political instability by driving the public’s worst suspicions that the U.S. political system is rigged in favor of large donors.

And the Google bosses response?

Our Board of Directors believes that participating in the political process in a transparent manner is an important way to enhance stockholder value and promote good corporate citizenship. Given our existing method of frequently updating stockholders and the public about these public policy activities, our Board of Directors does not believe that implementing this proposal would benefit our stockholders. Accordingly, our Board of Directors recommends that stockholders vote “AGAINST” this proposal. 

Security for the highly paid

Finally - I suppose when you take home $200M with about $500 in total stock value, it pays to be well looked after.   The CEO's package includes $322,000 for a security detail!

 

Financial Performance

$5.4BN in nett income for the first 3 months of this year.  That's $5,400,000,000 to the bottom line - in 3 months.

https://www.sec.gov/Archives/edgar/data/1652044/000165204417000011/googexhibit991q12017.htm

 

 
               
 
Three Months Ended March 31, 2016
 
Three Months Ended March 31, 2017
Revenues
 
$20,257
 
 
 
$24,750
 
Increase in revenues year over year
17
%
 
22
%
Increase in constant currency revenues year over year
23
%
 
24
%
 
 
 
 
Operating income
 
$5,342
 
 
 
$6,568
 
Operating margin
26
%
 
27
%
 
 
 
 
Net income
 
$4,207
 
 
 
$5,426
 
 

Comments