Google's top lawyer handed $3.3m bonus in $15m round of payouts
Google's chief legal officer David Drummond has received a $3.3m (£2.2m) cash bonus for his performance last year, a regulatory filing by the search giant has revealed. The Securities and Exchange Commission (SEC) filing contains details of annual discretionary cash bonus payments to Google's executive officers, including a $6m (£4m) payout for exec chairman Eric Schmidt.
March 13, 2013 at 07:24 AM
2 minute read
Google's chief legal officer David Drummond has received a $3.3m (£2.2m) cash bonus for his performance last year, a regulatory filing by the search giant has revealed.
The Securities and Exchange Commission (SEC) filing contains details of annual discretionary cash bonus payments to Google's executive officers, including a $6m (£4m) payout for exec chairman Eric Schmidt.
In total, Google is paying nearly $15m (£10m) to four of its six top executives, including payouts of $2.8m (£1.9m) for CFO Patrick Pichette and chief business officer Nikesh Arora. Google founders Larry Page and Sergey Brin are not receiving bonuses.
Drummond (pictured), who is also a senior vice president at Google, joined the internet search giant in 2002 as vice-president of corporate development. In his role he advises on government relations, M&A and investment projects, as well as strategic partnerships and licensing opportunities.
He was previously a corporate partner at US firm Wilson Sonsini Goodrich & Rosati, and served as Google's first external counsel in 1998, advising Page and Brin on incorporating the company and on its initial rounds of financing.
The payout for Drummond comes after after LinkedIn GC Erika Rottenberg saw her shares and options in the social networking website valued at around $27m (£18m) by the site's 2011 initial public offering (IPO).
Rottenberg, who joined LinkedIn in July 2008, owned 323,275 options and shares before the IPO, and sold 30,000 shares at the opening price of $45 (£30), making about $1.35m (£903,000). It left her with 293,275 shares, including 88,900 that are unvested, worth about $27m as of 19 May 2011.
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