Google Offering Its Executive’s Payout As Cash Instead Of Stock

Posted on May 1 2012 - 8:40am by Editorial Staff

The search giant in its latest said-to-be surprising move has cancelled thousands of stock options and stock units awarded to its chief business officer earlier this month and said it would instead pay him $8 million in cash. Reuters reports that according to a filing Google provided to the U.S. Securities and Exchange Commission on Monday. Nikesh Arora, who oversees Google’s revenue operations as well as marketing and partnerships, will receive the payment on May 11. The change means Arora will not have to wait for the payout until 2015 and will also get a $3.3 million “discretionary” bonus. If Arora leaves Google for any reason before April 25, 2015, he must repay the $8 million. Arora was awarded 4,323 stock units of Google’s Class A common stock and 8,646 stock options on April 4, Google said in the filing. The stock units and options were scheduled to vest in April 2015.

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