Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
OnApril 18, 2023 , theLeadership Development, Inclusion and Compensation Committee ("LDICC") of the Board of Directors ofAlphabet Inc. ("Alphabet") approved equity awards for the following executive officers:Ruth Porat , Senior Vice President, Chief Financial Officer,Alphabet andGoogle LLC ("Google");Prabhakar Raghavan , Senior Vice President, Knowledge and Information, Google;Philipp Schindler , Senior Vice President, Chief Business Officer, Google; andKent Walker , President, Global Affairs, Chief Legal Officer and Secretary, Alphabet and Google. The equity awards, which are expected to be granted onMay 3, 2023 (the first Wednesday of the month following LDICC approval), are as follows: •Ms. Porat will be granted one tranche of performance stock units ("PSUs") with a target value of$5,000,000 , and one tranche of restricted stock units ("GSUs") in the amount of$18,000,000 . •Mr. Raghavan will be granted one tranche of PSUs with a target value of$12,000,000 , and one tranche of GSUs in the amount of$23,000,000 . •Mr. Schindler will be granted one tranche of PSUs with a target value of$12,000,000 , and one tranche of GSUs in the amount of$23,000,000 . •Mr. Walker will be granted one tranche of PSUs with a target value of$5,000,000 , and one tranche of GSUs in the amount of$18,000,000 .
The number of PSUs represented by the target value will be calculated by
dividing the target value by the average closing price of Alphabet's Class C
capital stock during the month of
The number of GSUs comprising the grant will be calculated by dividing the
equity award amount by the Average Closing Price. These GSUs will vest as
follows: 1/6th will vest on
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