Google CEO Eric Schmidt was awarded a compensation package valued at $245,322 in 2009, according to documents filed this week with the U.S. Securities and Exchange Commission. His total compensation fell 52% compared to 2008, when his pay package was valued at $508,764.
The bulk of Schmidt's 2009 pay is tied to perks, which include $233,542 for personal security and $10,119 for air travel costs for his family and friends. In 2008, Google paid $402,562 for Schmidt's personal security and $106,201 for his family and friends' air travel costs.
Schmidt also received a $1 salary and $1,660 bonus in 2009. He didn't receive any new stock or option awards during the year, nor did Sergey Brin or Larry Page. (Schmidt currently owns 9.4 million Google shares, Brin owns 28.5 million and Page owns 29.1 million.)
As a company, Google grew revenue 9% and increased its profit 28% in its 2009 fiscal year, ended Dec. 31. Revenue came in at $23.7 billion, up from $21.8 billion in 2008. Net income hit $6.5 billion, up from $4.2 billion a year earlier.
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This story, "Less expensive perks cut Google CEO's compensation in half" was originally published by Network World.