{"id":11225,"date":"2012-05-01T01:45:04","date_gmt":"2012-04-30T23:45:04","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=11225"},"modified":"2012-05-02T13:36:20","modified_gmt":"2012-05-02T11:36:20","slug":"google-switches-exec-pay-from-stock-to-cash","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/11225\/google-switches-exec-pay-from-stock-to-cash\/","title":{"rendered":"Google switches exec pay from stock to cash"},"content":{"rendered":"<p><a title=\"Google Inc\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/1719-Google\">Google Inc<\/a> canceled 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.<\/p>\n<p><a title=\"Nikesh Arora\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/2444-Nikesh-Arora\">Nikesh Arora<\/a>, who oversees Google&#8217;s revenue operations as well as marketing and partnerships, will receive the payment on May 11, according to a filing Google provided to the U.S. Securities and Exchange Commission on Monday.<\/p>\n<p>The change means Arora will not have to wait for the payout until 2015, when the stock units and options vested. Arora will also get a $3.3 million &#8220;discretionary&#8221; bonus, Google said in the filing.<\/p>\n<p>If Arora leaves Google for any reason before April 25, 2015, he must repay the $8 million, according to the filing.<\/p>\n<p>A Google spokeswoman said the company does not comment on the compensation of executives at the company.<\/p>\n<p>The new compensation arrangement, which was approved by the leadership development and compensation committee of Google&#8217;s board last week, includes the bonus and a $4.7 million payment in exchange for the stock awards.<\/p>\n<p>Arora, who joined the Internet search company in 2004, was awarded 4,323 stock units of Google&#8217;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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Google Inc canceled 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.<\/p>\n","protected":false},"author":7,"featured_media":397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[25,53,2601],"class_list":["post-11225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-active","tag-google","tag-nikesh-arora"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/11225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=11225"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/11225\/revisions"}],"predecessor-version":[{"id":11315,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/11225\/revisions\/11315"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/397"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=11225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=11225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=11225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}