Google top three take $1 salaries
Eric Schmidt, Sergey Brin, and Larry Page repeat their base salaries of $1 for 2006, just as they took in 2005; don’t be in too much of a hurry to launch SaveGooglers.com and start a fundraiser, though.
Gary Price noted Google’s recent 8-K filing with the Securities and Exchange Commission, and took a look at the corporate salaries for Google officers.
While a number of notable Googlers received raises that boosted their $175,000 base salaries to $250,000, the co-founders and CEO will hold steady at $1. However, regularly scheduled automatic stock sales for the most inside of insiders should provide a small cushion against the ravages of Starbucks latte increases.
Thomson Financial reported Page’s January sales of 125,000 shares of stock were worth $56.3 million; Brin sold 399,330 shares with a value of nearly $176 million himself.
Schmidt hasn’t had any sales conducted in January yet, but his December 30, 2005 sales of 56,493 shares brought in $23.4 million.
Altogether in 2005, Google insiders sold more than $4 billion in shares. To compare, Yahoo insiders for the same period sold about $500 million.
Google actually had an insider buy shares during the last 12 months; that was CFO George Reyes, who purchased 75 shares at $294.83 per share on October 14, 2005. Those shares were promptly flipped the same day by Reyes at a four-cent per share loss.
Maybe he needed cab fare home.
Entry filed under: Geeky stuff.