Amazon to grant new CEO Andy Jassy over $200 million in stock

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Amazon plans to award incoming Chief Executive Andy Jassy greater than $200 million in additional stock, which can pay out over 10 years, the company stated in a regulatory submitting on Friday.

Amazon will document the grant of 61,000 shares on July 5, the submitting stated, the date that Jassy succeeds Jeff Bezos in the net retailer’s first CEO transition since its founding in 1994.

The award’s actual worth will depend upon how the shares are buying and selling once they pay out in future years, encouraging Jassy to develop a company that’s value $1.77 trillion at present. Though Amazon didn’t disclose the vesting schedule, its earlier stock grants haven’t vested instantly.

Jassy’s base wage has been $175,000, filings present. On prime of that, he has $45.3 million in beforehand awarded stock that’s vesting this year, and he had $41.5 million in shares that vested in 2020.

That’s nonetheless smaller than rival CEOs in the expertise trade. Microsoft’s Satya Nadella had $215 million in stock vest for the fiscal year ended June 30, 2020, on prime of a base wage of $2.5 million, a submitting confirmed. Apple’s Tim Cook had $281.9 million in stock vest, in accordance to its 2021 proxy.

And Bezos, regardless of a smaller wage, has been the world’s richest individual thanks to his being the biggest shareholder in Amazon.

Other Big Tech CEOs, like Microsoft’s Satya Nadella (left) and Apple’s Tim Cook (proper, with China’s Internet czar Lu Wei standing between them at a 2015 Microsoft occasion) stay extra extremely compensated than Amazon’s incoming CEO Andy Jassy.
AP

The company plans to cease its prior biannual stock grants to Jassy, aiming for the award disclosed Friday to characterize most of his compensation for the approaching years, an individual accustomed to the matter informed Reuters.

Amazon additionally will make preparations to present for Jassy’s personal safety, in accordance to the submitting.

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