The chief executive of Alphabet Inc., Sundar Pichai, could receive a compensation package worth up to $692 million — roughly Rs 6,200 crore — over the next three years under a newly approved equity plan. The details were shared in a filing with the US Securities and Exchange Commission on Friday and outline how a large part of Pichai’s potential earnings will depend on the performance of some of Alphabet’s newer businesses.
The plan covers a three-year cycle and includes several equity components. While the structure is similar to the package granted to Pichai in 2022, the latest award introduces incentives connected to two ventures that began as experimental projects within Alphabet but are now expanding as independent businesses: self-driving technology company Waymo and drone delivery service Wing.
Under the new compensation structure, a portion of the payout is tied to the estimated value of Waymo. If the value assigned to the company’s equity units rises during the three-year period, Pichai could receive stock incentives worth as much as $260 million. The valuation used to determine the payout will be assessed by Alphabet’s compensation committee.
The filing does not list specific operational targets that would unlock this payout. Alphabet also declined to provide additional details about the compensation plan when contacted.
Another part of the package focuses on Wing, the company’s drone delivery business. Pichai has been granted equity units linked to Wing that could reach a value of up to $90 million depending on how the company’s value per unit changes over the next three years.
In the filing, Alphabet’s board explained the reasoning behind linking part of the CEO’s compensation to these ventures, stating that “incentivizing Mr. Pichai to focus his efforts on developing and scaling Alphabet’s later stage Other Bets, such as Waymo and Wing,” would benefit the company and its stakeholders.
Waymo began in 2009 as a project inside Google’s research division focused on autonomous driving technology. Over the years it has grown into a commercial robotaxi service operating in multiple US cities. According to company data, Waymo’s autonomous vehicles have travelled more than 200 million miles so far. In 2026, the company expanded its commercial service to additional markets including Dallas, Houston, San Antonio and Orlando.
Wing, on the other hand, was launched in 2012 as part of Alphabet’s experimental innovation programme before becoming an independent subsidiary in 2018. The company runs drone-based delivery services designed to transport small packages directly to customers. Earlier this year, Wing said it plans to extend its operations to more than 270 stores run by Walmart by 2027 as part of a wider expansion of its delivery network.
Apart from the incentives tied to Waymo and Wing, Pichai’s compensation package also includes performance stock units linked to Alphabet’s shareholder returns compared with other companies listed in the S&P 100. These stock units could reach a value of up to $252 million if the company’s market performance outpaces its peers in the index.
There is also a separate time-based equity component valued at $84 million. This portion will vest only if Pichai continues to remain with the company during the three-year period covered by the plan.
Despite the large potential equity payout, Pichai’s fixed salary remains unchanged. His base salary is $2 million a year and has stayed at that level since 2020. Like many technology industry leaders, most of his compensation is linked to stock-based incentives tied to company performance.
If the performance targets are achieved and the valuation of the linked businesses increases, Pichai’s total payout under the plan could reach the full $692 million. At current exchange rates of roughly Rs 91 per dollar, the amount translates to nearly Rs 6,200 crore.
