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
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.