By Davit Kirakosyan
Alphabet Inc. (NASDAQ:GOOGL) appointed R. Martin “Marty” Chávez to its Board of Directors, with the effective date of July 11, subject to approval by the Board.
Mr. Chávez is a partner and vice chairman of global investment firm Sixth Street, as well as a member of the board of directors of the Broad Institute of MIT and Harvard, the Stanford Medicine Board of Fellows, and is a member of the board of directors of the Los Angeles Philharmonic. Chávez also serves as a chair of the board of directors for a clinical biotechnology company Recursion Pharmaceuticals, Inc.
Prior to Sixth Street, Mr. Chávez held a number of executive positions during his 20-year tenure with Goldman Sachs (NYSE:GS), including chief information officer, chief financial officer, global co-head of the firm’s Securities Division, and member of the management committee. Mr. Chávez also co-founded San Francisco start-up Quorum Software System.
Chávez will be granted an initial equity award of $1,000,000 in the form of Alphabet Restricted Stock Units (GSUs) on the first Wednesday of the month following the Effective Date. These GSUs will first vest 25% on the 25th day of the month of his grant’s one year anniversary. Thereafter the GSUs will vest 1/48th monthly on the 25th of the month until fully vested. Following each annual shareholder meeting, he will be eligible to receive annualized compensation of a $350,000 GSU grant and a $75,000 cash retainer for the prior year of service.