Parting gift to Google CEO

Google says it has awarded $100 million worth of equity to outgoing CEO Eric Schmidt.

The stock and stock options will be granted on Feb. 2 and will vest over four years.

The 55-year-old Schmidt is being replaced as Google’s CEO by co-founder Larry Page. Both men, along with Google’s other co-founder Sergey Brin, have limited their salaries to $1 for years. Schmidt will stay with Google and serve as executive chairman starting in April.

Associated Press