Snap’s co-founder and chief executive Evan Spiegel received US$637.8 million as total compensation last year after the firm went public, the third-highest annual payout ever received by a company CEO, Reuters reports.
Spiegel’s pay package is based on stock-based awards worth US$636.6 million and salary and other compensation worth about US$1.2 million, the report said, citing a regulatory filing on Thursday.
Spiegel’s payout only trails the 2007 and 2008 compensations of Daniel Och, CEO of hedge fund Och-Ziff Capital Management Group, the report said, citing ISS Analytics, the data arm of Institutional Shareholder Services.
Och received an annual compensation of US$918.9 million in fiscal year 2007 and US$1.19 billion in 2008.
“I believe this is the largest value we have seen in the 10 years we’ve been compiling annual ‘highest-paid’ CEO studies,” Dan Marcec of executive compensation data firm Equilar told Reuters.
Shares of Snap, which runs the image messaging and multimedia mobile application Snapchat, rose in February above its IPO price of US$17 for the first time since July.
– Contact us at [email protected]