Google CEO Sundar Pichai to get $692mn package under new performance plan. Details inside

Alphabet Inc. has approved a new compensation framework for its chief executive, Sundar Pichai, that could potentially earn him as much as $692 million over the next three years. Details of the proposed package were disclosed in a filing submitted to the US Securities and Exchange Commission (SEC) on Friday (March 6). A significant portion of the payout is tied to the progress and valuation of some of Alphabet’s emerging businesses.

The compensation structure will run across a three-year performance cycle and is largely made up of equity-based incentives. While the format resembles the stock award given to Pichai in 2022, the updated plan places additional emphasis on Alphabet’s newer ventures, particularly Waymo and Wing.

Incentives linked to Waymo’s growth

One of the largest components of the package is tied to the valuation of Waymo, Alphabet’s autonomous vehicle company. Depending on how the value of Waymo’s equity units changes during the three years, Pichai could earn stock incentives worth up to $260 million.

The company’s compensation committee will determine the valuation used to calculate this payout. However, the filing does not spell out precise operational benchmarks that would trigger the full award. Alphabet also declined to elaborate further on the structure of the compensation plan.

Waymo originally began as a research initiative inside Google in 2009, focused on self-driving technology. Over time, it evolved into a commercial robotaxi service operating in several American cities. According to the company, Waymo’s driverless vehicles have already logged more than 200 million miles on roads. In 2026, its services expanded to new cities, including Dallas, Houston, San Antonio and Orlando, strengthening its presence in the autonomous mobility sector.

Another portion of the CEO’s potential compensation is linked to Wing, Alphabet’s drone delivery subsidiary. Under the plan, Pichai has been awarded equity units connected to Wing that could be worth as much as $90 million, depending on how the company’s valuation evolves over the same three-year period.

Wing was first introduced in 2012 as part of Alphabet’s experimental “Other Bets” innovation programme. It later became an independent subsidiary in 2018. The company focuses on drone-based logistics, delivering small parcels directly to customers. Earlier in 2026, Wing announced plans to significantly expand its delivery network through a partnership with Walmart, aiming to serve more than 270 retail locations by 2027.

Shareholder returns and stock performance

Beyond the incentives tied to Waymo and Wing, another major portion of the compensation package is connected to Alphabet’s stock performance. Performance stock units included in the plan could deliver up to $252 million if Alphabet’s total shareholder returns outperform other firms listed in the S&P 100 index over the next three years. In addition, Pichai has been granted a time-based equity award valued at $84 million. This component will vest only if he remains with the company throughout the duration of the performance cycle.

Base salary remains the same

Despite the sizeable equity incentives, Pichai’s fixed salary remains unchanged at $2 million per year, a level that has been in place since 2020. Like many executives in the technology sector, the majority of his earnings come from stock-based compensation linked to company growth and performance. If all performance conditions are met and the valuation of the associated businesses rises as expected, the full package could reach $692 million, which translates to approximately ₹6,200 crore at current exchange rates of about ₹91 per US dollar.