Google chief gets $1, but his security costs $532,755
The Internet search giant Google paid its top executive, Eric Schmidt, a salary of $1 and a holiday bonus of $1,723 in 2006, according to a regulatory filing Wednesday. But Schmidt’s personal security cost shareholders $532,755, representing the bulk of his compensation. Schmidt also received $22,456 to offset taxes due on a perk: the use of a Google-chartered aircraft by family members and friends.
The salary and bonuses paid to Schmidt, Brin and Page reflect little change from 2005, when they each earned a salary of $1 and bonuses of $1,630 to $1,723. For the latest filings, guidance by the Securities and Exchange Commission included personal security as a perk that should be listed as compensation, said Jon Murchinson, a Google spokesman. He would not give further details about Schmidt’s security expenses.
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