The board recognizes Pichai's "strong performance"
as CEO, the company said, adding that the vesting of a significant portion of
the award would depend on Alphabet's total shareholder return relative to other
S&P 100 companies.
Alphabet said the award was tweaked to increase the
performance stock units (PSUs) to 60% from 43% in 2019, while increasing the
performance requirement for the payout.
Pichai, who is given an equity award every three years, was
granted two tranches of PSUs with a target value of $63 million each.
The CEO was also given a grant of $84 million in the form of
Alphabet's restricted stock units.
Meanwhile, Germany's cartel office said on Wednesday that it
had concluded proceedings against Google over its online news service after the
tech giant made several changes benefiting publishers.
The office said Google had abandoned plans to integrate the
Google News Showcase into general searches and changed its contractual practice
to make sure publishers do not face difficulties in asserting their ancillary
copyright in response to its concerns. A publisher's participation in the News
Showcase will continue not to affect search results, added the office.
The cartel office said Google would implement further
measures in the coming weeks, including providing more information about
Showcase, and that it would continue to monitor this development.
Under expanded powers that entered into force last year, the
cartel office has taken up cases involving several tech giants, including
Amazon, Apple and Facebook owner Meta.
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