San Francisco: Google CEO Larry Page and his longtime partner Sergey Brin limited their salaries to $1 apiece last year, while four other top executives received combined compensation packages totaling more than $124 million.
The breakdown disclosed in a regulatory filing Wednesday consisted mostly of stock awards that could ultimately be worth more or less money, depending on how Google's stock price fares in the future. Google Inc. also paid all four of the executives besides Page and Brin their maximum bonuses to reward them for their accomplishments during a year that saw the Internet search leader's stock price and earnings rise by 10 per cent from 2011.
Page and Brin, who co-founded Google in 1998, have capped their salaries to $1 since the company went public in 2004. It's a symbolic gesture that other top Silicon Valley executives such as Apple Inc.'s late CEO Steve Jobs, and Yahoo Inc. co-founder Jerry Yang have made after amassing fortunes through the stock that they held in their respective companies.
Page, 40, and Brin, 39, are Google's two biggest stockholders, with stakes that are each currently worth about $20 billion....
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