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Amazon’s new CEO Andy Jassy to get over $200 million in stock


New Delhi: Amazon.com Inc plans to award incoming Chief Executive Andy Jassy more than $200 million in extra stock, which will pay out over 10 years, the company said in a regulatory filing on Friday.

Amazon will record the grant of 61,000 shares on July 5, the filing said. That`s the date Jassy succeeds Jeff Bezos in the online retailer`s first CEO transition since its founding in 1994. As of Friday`s close, those shares are worth about $214 million.

The award`s exact value will depend on how the shares are trading when they pay out in future years, encouraging Jassy to grow a company that`s worth $1.77 trillion today. Though Amazon did not disclose the vesting schedule, its previous stock grants have not vested right away.

Jassy`s base salary has been $175,000, filings show. On top of that, he has $45.3 million in previously awarded stock that is vesting this year and had $41.5 million vest in 2020.

The annual median pay at Amazon was $29,007 last year across full, part-time and temporary employees worldwide, excluding Bezos, whose base salary was $81,840. The founder`s outsized stake in Amazon has made him the richest person in the world.

Jassy`s vested equity was still smaller than payouts to rival CEOs in the technology industry. Microsoft Corp`s Satya Nadella had $215 million in stock vest for the fiscal year ended June 30, 2020, on top of a base salary of $2.5 million, for instance. Apple Inc`s Tim Cook had $281.9 million in stock vest, according to its 2021 proxy.

Some governance experts have criticized such pay schemes because they reward executives irrespective of whether they achieve corporate milestones. Stock grants can be more appropriate for startups than for established companies like Amazon, said, John C. Coffee Jr., director of the Center on Corporate Governance at Columbia Law School.

“It is rewarding compensation a little prematurely,” Coffee said. “It’s like winning the prize for the race before the race is won.” Also Read: Post Office Scheme: Double your money with Kisan Vikas Patra in few years, here’s how

Amazon plans to stop its prior biannual stock grants to Jassy, aiming for the latest award to account for most of his compensation in the coming years, a person familiar with the matter said. Also Read: Microsoft’s Blue Screen of Death will be changing to black in Windows 11

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$(‘meta[name=description]’).attr(“content”,$(this).children().find(‘.left-block’).attr(‘data-summary’));
$(‘meta[name=keywords]’).attr(“content”,$(this).children().find(‘.left-block’).attr(‘data-keyword’));
$(‘meta[name=news_keywords]’).attr(“content”,$(this).children().find(‘.left-block’).attr(‘data-keyword’));

pSUPERFLY.virtualPage(prevLoc,$(this).children().find(‘.left-block’).attr(‘data-title’));
//console.log(“Summary: ” + $(this).children().find(‘.left-block’).attr(‘data-summary’));
//console.log(“Keyword: ” + $(this).children().find(‘.left-block’).attr(‘data-keyword’));
//history.pushState(” ,”, prevLoc);
loadshare(prevLoc);

return false; // stops the iteration after the first one on screen

);
if(lastHeight + last.height() < $(document).scrollTop() + $(window).height())
//console.log("**get");
url = $(next_selector).attr('href');
x=$(next_selector).attr('id');
//console.log("x:" + x);
//handle.autopager('load');

/*setTimeout(function()
//twttr.widgets.load();
//loadDisqus(jQuery(this), disqus_identifier, disqus_url);
, 6000);*/

//lastoff = last.offset();
//console.log("**" + lastoff + "**");
);
//$( ".content-area" ).click(function(event)
// console.log(event.target.nodeName);
//);

/*$( ".comment-button" ).live("click", disqusToggle);
function disqusToggle()
var id = $(this).attr("id");
$("#disqus_thread1" + id).toggle();
;*/
//$(".main-rhs2373773").theiaStickySidebar();
var prev_content_height = $(content_selector).height();
//$(function()
var layout = $(content_selector);
var st = 0;
///);

}
}
});

/*}
};*/
})(jQuery);

function on_load_google_ad(PWT)
var inad1, inad2 = ”;
googletag.cmd.push(function()
googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_ATF_970x90’, [[970, 90], [970, 250], [970, 66], [728, 90]], ‘div-gpt-ad-1504525832454-0’).addService(googletag.pubads());
googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_ATF_300x250’, [[300, 600], [300, 250]], ‘div-article-rhs-atf-ad’).addService(googletag.pubads());
googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_BTF_1_300x250’, [300, 250], ‘div-gpt-ad-1504525832454-2’).addService(googletag.pubads());
googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_OOP_1x1’, [1, 1], ‘div-gpt-ad-1504526235866-6’).addService(googletag.pubads());
var inarticle1 = document.getElementById(‘div-gpt-ad-AS-Inarticle-1’);
if (typeof(inarticle1) != ‘undefined’ && inarticle1 != null)

googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_Inarticle_1_300x250’, [[300, 250]], ‘div-gpt-ad-AS-Inarticle-1’).addService(googletag.pubads());
inad1 = “true”;

var inarticle2 = document.getElementById(‘div-gpt-ad-AS-Inarticle-2’);
if (typeof(inarticle2) != ‘undefined’ && inarticle2 != null)

googletag.defineSlot(‘/11440465/Zeenews_English_Web/Zeenews_English_AS_Inarticle_2_300x250’, [[300, 250]], ‘div-gpt-ad-AS-Inarticle-2’).addService(googletag.pubads());
inad2 = “true”;

googletag.pubads().setTargeting(‘category’, [“article”,”Technology”,”Amazon”,”Jeff Bezos”,”Andy Jassy”]);
googletag.pubads().enableLazyLoad( fetchMarginPercent: 50, renderMarginPercent: 50, mobileScaling: 2.0 );
googletag.pubads().disableInitialLoad();
googletag.pubads().enableAsyncRendering();
googletag.pubads().set(‘page_url’,’https://zeenews.india.com/’);
googletag.pubads().collapseEmptyDivs();
googletag.enableServices();
// OpenWrap code START here
if(typeof PWT.requestBids === ‘function’)
PWT.requestBids(
PWT.generateConfForGPT(googletag.pubads().getSlots()),
function(adUnitsArray)
PWT.addKeyValuePairsToGPTSlots(adUnitsArray);
PWT.ow_BidsReceived = true;
initAdserver(false);

);

// No need to handle “else” part as we have A9 wrapper on page
// OpenWrap code END here
var FAILSAFE_TIMEOUT = 1000; // this timeout should be more than OpenWrap and A9 timeout
setTimeout(function()
initAdserver(true); // calling this function with forced mode set to true so that GPT API is always executed
, FAILSAFE_TIMEOUT);
);
googletag.cmd.push(function() googletag.display(‘div-article-rhs-atf-ad’); );
googletag.cmd.push(function() googletag.display(‘div-gpt-ad-1504525832454-0’); );
googletag.cmd.push(function() googletag.display(‘div-gpt-ad-1504525832454-2’); );
googletag.cmd.push(function() googletag.display(‘div-gpt-ad-1504526235866-6’); );
if(inad1)
googletag.cmd.push(function() googletag.display(‘div-gpt-ad-AS-Inarticle-1’); );

if(inad2)
googletag.cmd.push(function() googletag.display(‘div-gpt-ad-AS-Inarticle-2’); );

on_load_google_ad(PWT);

function on_load_fb_twitter_widgets()
(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.9”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

window.twttr = (function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0],
t = window.twttr (document, “script”, “twitter-wjs”));

//setTimeout(function() on_load_google_ad(); , 5000);
setTimeout(function()
on_load_fb_twitter_widgets();
, 5000);



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