Stepping down as CEO to take the Executive Chairman position is not like leaving to play golf with a multimillion golden parachute after you've wrecked your company (nudge, wink, ex-Citibank and Countrywide CEOs), but still Google wanted to make the transition as smooth as possible for Eric Schmidt.
Besides his filing to sell 534 000 shares of common stock, amounting to around $325 million, Google is awarding Eric Schmidt with additional $100
million of equity, to be vested over a four-year period. Google's
ex-CEO, who will now be in charge of business and government
partnerships, will be left with "only" 8.7 million shares, currently
worth about $5.3 billion. Not bad for a ten year's work, but then, again, that's Google we are talking about.