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Mar. 26, 2008 at 9:22am Eastern by Barry Schwartz
Google Founders Take $1 Salaries Again; Tell Investors To Say No On Anti-Censorship Proposal
Google founders: $1 salaries, $13B in stock from CNN Money reports Google's founders Larry Page and Sergey Brin, along with CEO Eric Schmidt, renewed their contracts again at a $1 per year salary, in 2007. You would think that with the falling stock price, the founders might want some extra cash? But the $8.5 billion drop in the value of the stock they each own did not change their minds on the salary. Don't worry, their stock holdings combined are currently valued at about $13 billion.
In related stock news, Google To Holders: Vote No On Anti-Censorship Proposal from Barron's Online reports Google asked their stockholders to vote down a policy to prevent censorship of the Internet.
Schmidt also received $480,561 in 2007, "including $478,662 in expenses incurred by Google mostly for Schmidt's personal security. His total compensation was down 14% from 2006, when his personal security costs were higher," reported CNN Money. Schmidt's stock value is now worth about $4.3 billion, down from about $9 billion.
Google's Kordestani Gets $32.7 Million Option from the Wall Street Journal adds that Google's senior vice president of global sales and business development, Omid Kordestani, exercised 60,000 shares earning $32.7 million. Alan Eustace, senior vice president of engineering and research, received $10.4 million from options to acquire 19,590 shares.
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By Barry Schwartz
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