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Alphabet logoAlphabet GOOG

Alphabet said it appointed Anat Ashkenazi as Chief Financial Officer and Senior Vice President of Alphabet and Google LLC, effective July 31, 2024. The appointment was announced on June 5, 2024.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Period of report Summary published (UTC)

Key points

AI summary
  1. Alphabet said it appointed Anat Ashkenazi as Chief Financial Officer and Senior Vice President of Alphabet and Google LLC, effective July 31, 2024. The appointment was announced on June 5, 2024.

  2. The company said Anat Ashkenazi's annual base salary will be $1,000,000, with an annual discretionary bonus opportunity of up to 200% of base salary. The compensation terms were approved by the Leadership Development, Inclusion and Compensation Committee of the Board.

  3. The company agreed to a one-time sign-on bonus of $9.9 million and a sign-on equity grant of restricted stock units (GSUs) worth $13.1 million to compensate for compensation she forfeited at her prior company. The GSUs will be granted on the first Wednesday of the calendar month after her start date, with 1 of 2 vesting in September 2024 and 1 of 2 vesting in December 2024.

  4. The company said it will grant her GSUs worth $17.0 million vesting quarterly in 2025, GSUs worth $6.0 million vesting quarterly in 2026, and performance-based stock units (PSUs) worth $5.0 million for the performance period from January 1, 2024 to December 31, 2026. It also said it will help cover relocation-related expenses under its officer relocation guidelines.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Chief Financial Officer Appointment and Effective Date

Alphabet said it appointed Anat Ashkenazi as Chief Financial Officer and Senior Vice President of Alphabet and Google LLC, effective July 31, 2024. The appointment was announced on June 5, 2024.

Source · Based on the filing body and exhibits

Base Salary and Discretionary Bonus Terms

The company said Anat Ashkenazi's annual base salary will be $1,000,000, with an annual discretionary bonus opportunity of up to 200% of base salary. The compensation terms were approved by the Leadership Development, Inclusion and Compensation Committee of the Board.

Source · Based on the filing body and exhibits

Sign-On Compensation and Grant and Vesting Schedule

The company agreed to a one-time sign-on bonus of $9.9 million and a sign-on equity grant of restricted stock units (GSUs) worth $13.1 million to compensate for compensation she forfeited at her prior company. The GSUs will be granted on the first Wednesday of the calendar month after her start date, with 1 of 2 vesting in September 2024 and 1 of 2 vesting in December 2024.

Source · Based on the filing body and exhibits

Future Equity Compensation and Relocation Support

The company said it will grant her GSUs worth $17.0 million vesting quarterly in 2025, GSUs worth $6.0 million vesting quarterly in 2026, and performance-based stock units (PSUs) worth $5.0 million for the performance period from January 1, 2024 to December 31, 2026. It also said it will help cover relocation-related expenses under its officer relocation guidelines.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.