Google top execs drew $1 salaries

WASHINGTON, April 4 (UPI) -- Google Inc.'s top three executives drew $1 salaries, but got bonuses and "other compensation," a U.S. Securities and Exchange Commission filing said.

Chief Executive Eric Schmidt and co-founders Sergey Brin, technology president, and Larry Page, products president, have had a $1 base salary since 2004, the company said in its filing Wednesday.

"Due to their strong leadership and Google's strong overall performance, we offered each of them market-competitive salaries at the beginning of each of 2005, 2006 and 2007," but the men rejected the offers, the filing said.

They each received a $1,723 holiday bonus, which ended up being $1,000 after taxes, the filing said.

In addition, Schmidt got $555,742 and Page got $36,795 in other compensation -- most of which was for personal security, the filing said in a footnote.

The men, who "run Google as a triumvirate," own 85.1 percent of Google's Class B shares, the filing said.

Each Class B share is entitled to 10 votes. Each Class A share is entitled to one vote.

Schmidt, 51, owns 10.7 million B shares and 10,096 A shares, worth a combined $5.02 billion, based on the stock's current price.

Brin, 33, owns 28.6 million B shares, worth $13.54 billion. Page, 34, owns 29.2 million B shares, worth $13.75 billion.