Schmidt's total compensation last year swelled to $101 million thanks to a previously announced equity award granted when he ended a 10-year stint in the top job at Google, according to a filing with the U.S. Securities and Exchange Commission on Friday.
Schmidt ranked as the most highly compensated Google executive in 2011 by a longshot, earning more than four times the compensation of Google's next highest-paid executive.
Google co-founder Larry Page, who took the CEO reins from Schmidt, and co-founder Sergey Brin each received a $1 base salary in 2011, the same salary they have received every year since 2004. Including holiday bonuses, the two co-founders each received a total compensation of $1,786 in 2011.As part of Schmidt's move to his new executive chairman role last year, Google said that it was giving him a $100 million equity award comprised of stock and stock options. The fair equity value of the award was actually $93.8 million at the time it was awarded, according to the proxy statement.
The award vests over a four year period, but Google reported the award in the year in which it was granted.His compensation includes the base salary, a bonus and other benefits.Schmidt helped transform Google into the world's largest search engine, generating roughly $38 billion in revenue last year.
Google's Chief Business Officer Nikesh Arora was the second highest-paid executive at Google in 2011, with a total compensation of $23.2 million, up from $22.6 million the year before.
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