Amazon CEO Andy Jassy received a payment plan worth $212.7 million in 2021, marking a significant pay rise for executives in the tech giant’s first year, according to a company submit with the US Securities and Exchange Commission on Friday.
According to the filing, nearly all of Jassy’s compensation comes in the form of stock options that will be valid for 10 years. Jassy’s 2021 compensation marks a six-fold increase in salary in 2020, when he’s the head of Amazon’s profit-generating AWS cloud computing arm.
Jassy became Amazon CEO last summer, replacing Jeff Bezos, who continued to serve as executive chairman of Amazon’s board but stepped down as chief executive to focus on the growing company. Blue Origin space and other venture projects. Bezos’ salary was unchanged at nearly $1.7 million, although his Amazon stock holdings make him the second-richest person in the world, according to the Bloomberg Billionaires Index.
Amazon’s remarkable revelation comes the same day that workers at the Staten Island, New York warehouse made history by voting to form the first US union in the giant’s 27-year history. technology. It also comes amid a separate union election tally at an Amazon warehouse in Bessemer, Alabama, which ended on Thursday with the results of the vote too close to call – because of the leaf count. votes challenged by unions or Amazon are large enough to sway the final outcome.
Large stock awards are not unusual for up-and-coming CEOs as they are intended to give executives an even greater share of the company’s operations immediately. For example, when Sundar Pichai took over as CEO of Alphabet, Google’s parent company in 2019, he was awarded a one-time stock award totaling about $240 million, according to company filings. SEC company. However, Pichai received no stock awards as part of his compensation in 2020, according to a follow-up filing.