Andy Jassy changed Jeff Bezos as Amazon's CEO final July.
Bloomberg through Getty Photographs
Amazon CEO Andy Jassy obtained an enormous pay package deal throughout his first yr on the job on the e-commerce large, pulling in a nine-figure windfall in inventory and different compensation, based on the corporate’s proxy submitting on Friday.
Jassy, who succeeded Amazon founder Jeff Bezos as CEO final July after beforehand serving as head of the corporate’s cloud-computing unit, obtained roughly $212 million in complete compensation in 2021.
A comparatively small portion of that large sum — simply $175,000 — got here from Jassy’s base wage. Most of Jassy’s compensation got here within the type of a restricted inventory unit award for 61,000 shares of Amazon inventory.
Amazon mentioned the award, which is able to vest over a interval from 2023 to 2031, is “meant to characterize most of Mr. Jassy’s compensation for the approaching years.” The corporate’s compensation committee famous Jassy’s pay is consistent with different high executives at large-cap corporations corresponding to Apple and Microsoft.
“Confronted with the primary CEO succession within the Firm’s historical past, the Management Growth and Compensation Committee decided it necessary to offer for readability and stability via an award that's designed to determine a long-term proprietor’s perspective and encourage daring, long-term initiatives, in the identical method that Mr. Bezos’s shares as founder incentivized him to give attention to long-term, expansive development,” the proxy submitting mentioned.
Jassy additionally obtained almost $600,000 in extra compensation, which the corporate recognized as spending on safety preparations and enterprise journey.
Jassy earned excess of Bezos, who's presently serving as Amazon’s govt chairman. Bezos was paid a base wage of $81,840 and obtained no inventory grants.
Amazon spent a whopping $1.6 million on safety and enterprise journey for Bezos — a sum the corporate mentioned was “particularly affordable in gentle of his low wage and the truth that he has by no means obtained any stock-based compensation.”
Bezos stays Amazon’s largest particular person shareholder, proudly owning 12% of the corporate’s inventory. He ranks as one of many richest people on the earth, with an estimated fortune of almost $190 billion.
Different Amazon executives additionally earned high greenback final yr. Amazon Internet Providers CEO Adam Selipsky was paid $81.4 million, whereas worldwide client division CEO earned about $56 million.
Amazon shares are up 3% over the past 12 months.
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