Feeds

Google backslaps Schmidt with $100m award

Take the money and hum

Internet Security Threat Report 2014

Google’s outgoing CEO Eric Schmidt, who will be succeeded by the company’s co-founder Larry Page in April, will reportedly pocket a $100m equity award.

According to Bloomberg, which cites a person familiar with the matter, Schmidt’s payout is the first such equity award he will have received since joining Google as board chairman 10 years ago.

Stock units and options on shares that will vest over four years are included in the award, said the news agency.

A regulatory filing posted by Google late last week said that Schmidt plans to sell about 5.8 per cent of his stock – which is valued at around $326.7m – in the Mountain View Chocolate Factory.

Schmidt owned about 9.2 million shares in Google at the end of 2010. He now plans to sell around 534,000 shares, said the filing.

In related Schmidt news, the soon-to-be ex-boss of Google will be hanging out with some members of UK.gov later today.

“Looking forward 2 mtg Eric Scmidt [sic] later, wonder if like Mark Zuckerberg a Downing St visit means he'll break habit of lifetime & wear a tie,” asked Culture Secretary Jeremy Hunt on his Twitter account.

But hey, those Silicon Valley types aren’t real suited-and-booted businessmen, are they? ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.