After Andy Jassy succeeds Jeff Bezos, he will net $214 million in Amazon stock
Amazon executive Andy Jassy (Andy Jassy) will receive a stock package worth more than $200 million Take over Jeff Bezos became CEO on Monday.
In a regulatory filing on Friday, the company said it had approved a 61,000-share plan — to vest in the next 10 years — and elected the 53-year-old to the company’s board of directors.
Jassy has been Amazon Since 1997, he is serving as the CEO of Amazon’s cloud computing unit AWS, which he has been leading since its establishment in 2006.
He will take the helm on July 5, the 27th anniversary of the company’s founding, and this will be the first leadership transition in Amazon’s history.
Bezos will become executive chairman and said he plans to devote more time to personal business, such as Space travelling And his ownership of The Washington Post.
Amazon’s stock price closed at $3,510.98 this week, and Jassy’s valuation is slightly higher than $214 million. However, once fully vested, its value may be much higher: in the past 10 years, Amazon’s stock price has risen by more than 1,500%. Its market value is currently 1.77 tons.
According to data from Standard & Poor’s Capital IQ, Jassy’s award is in addition to the 88,538 shares he already holds and the 48,756 shares that have not been granted by the end of 2020.
Amazon did not outline any performance goals related to the award. A company spokesperson declined to comment.
Huge stock grants are a typical example of large technology executives entering high-level positions. In 2012, Apple granted Tim Cook 1 million restricted shares, which were worth $376 million at the time, because he replaced the late Steve Jobs.
In 2019, Sundar Pichai received $276 million in stock and options in Google owner Alphabet, partly dependent on achieving performance goals.
Satya Nadella, who was appointed CEO of Microsoft in 2014, received US$59 million, also based on performance.
Additional report by Richard Waters in San Francisco
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