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Google chief executive paid $US1

AAP (via AFR) | April 25, 2013
Google chief executive Larry Page and his longtime partner Sergey Brin limited their salaries to $US1 apiece last year, while four other top executives received combined compensation packages totalling more than $US124 million

Schmidt is in the process of selling up to 3.2 million shares of Google stock this year. As of April 8, he owned about 6.9 million shares of Google stock, down from 7.6 million shares at the end of last year. His remaining stake in Google is worth about $US5.6 billion, based on Wednesday's closing price of $US813.45 for the company's stock.

The Associated Press formula calculates an executive's total compensation by adding salary, bonuses, perks, above-market interest that the company pays on deferred compensation and the estimated value of stock and stock options awarded during the year.



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