Ruth Porat, Google's new CFO.
Ruth Porat, Google’s new CFO.

Ruth Porat, Google’s new Chief Financial Officer, will be receiving an annual salary of $650,000 and a signing bonus of $5 million, the company revealed in a regulatory filing today. She’ll also receive a grant of $25 million in Google stock that vests starting on December 25, and the company plans to give her another grant worth $40 million starting in 2016.

Porat, who was the CFO of Morgan Stanley, will be taking on the role from Patrick Pichette, who announced earlier this month that he will be retiring to spend more time with his family. A Stanford graduate, Porat will be returning to California from New York (with her moving expenses aided by Google).

While her role and compensation will set her apart from other new hires, Porat’s offer letter said that she’ll be expected to take part in Google’s new hire orientation, which takes place every Monday.

The filling also revealed an interesting shift in Google’s compensation policy: starting in 2016, the tech giant will no longer pay its senior vice presidents an annual cash bonus, but will instead transition to a compensation plan that only includes stock awards and a salary. Those covered under that plan will also get stock grants that vest over a period of time, rather than all at once.

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