Andy Jassy to net $214m in Amazon stock on taking over from Jeff Bezos

Amazon exec Andy Jassy is readied to be handed a supply bundle worth greater than $200m when he takes over from Jeff Bezos as president on Monday.

In a regulative declaring on Friday, the firm stated it had actually authorized the 61,000-share strategy — to vest over the following ten years — and also chose the 53-year-old to the firm’s board of supervisors.

Jassy has actually gone to Amazon because 1997, and also is tipping up from his function as president of AWS, Amazon’s cloud computer arm, which he has actually led because its beginning in 2006.

He will certainly take the helm on July 5, the 27th wedding anniversary of the firm’s beginning, in what will certainly be Amazon’s first-ever management shift.

Bezos will certainly come to be executive chair, and also has actually stated he prepares to commit even more time to individual efforts, such as space travel and also his possession of The Washington Post.

Amazon’s supply finished the week valued at $3,510.98, valuing Jassy’s honor at simply over $214m. However, the worth might be substantially greater once completely vested: in the previous ten years, Amazon’s supply rate has actually enhanced by greater than 1,500 percent. Its market capitalisation presently stands at $1.77tn.

Jassy’s honor is available in enhancement to the 88,538 shares he currently holds, according to S&P Capital INTELLIGENCE, and also 48,756 that had yet to vest by the end of 2020.

The holding currently made Jassy the second-largest private investor at the firm, behind Bezos, whose risk deserves $176bn.

Amazon did not detail any type of efficiency targets in connection with the honor. A business representative decreased to comment.

Hefty supply gives are normal for Big Tech execs entering leading tasks. In 2012 Apple granted Tim Cook 1m in limited supply systems, valued at the time at $376m, as he replaced the late Steve Jobs.

In 2019 Sundar Pichai was granted $276m well worth of shares and also alternatives in Google proprietor Alphabet, partially based on striking efficiency targets.

Satya Nadella, that was selected president of Microsoft in 2014, got $59m, likewise performance-based.

Additional coverage by Richard Waters in San Francisco

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