Google co-founders Sergey Brin and Larry Page will receive no bonus as of the end of 2013, the Internet corporation said in a filing with the U.S. Securities and Exchange Commission (SEC).
According to Reuters, Brin and Page continue their practice of rejecting a bonus as they invested the most of their wealth in Google’s stock. Thanks to an upsurge of the stock last year, the co-founders managed to raise $9.3 billion each.
So, Google's shares shot up 58% in 2013, breaking the $1,000 mark for the first time. Thus, Google outpaced the Nasdaq's 38% gain for the year. Google’s shares finished Monday's regular session down 0.3%, or $3.22 at $1,211.57.
As for year-end bonuses, Google Inc. earmarked $9.5 million in total for its executives. In particular, it will pay Finance Chief Patrick Pichette and Chief Legal Officer David Drummond a $3 million annual bonus each. Chief Business Officer Nikesh Arora will get a $3.5 million bonus. For reference, Pichette and Arora each collected bonuses of $2.8 million last year. Drummond's bonus last year was $3.3 million.
