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According to a Bloomberg report, the Google CEO hasn’t received an equity award in more than two years. A key reason is that Pichai turned down a big new grant of restricted stock in 2018 because he felt he was already paid generously, according to a person familiar with the decision.

It’s unclear how much he passed up. But another giant payday — on top of hundreds of millions of dollars in previous awards — could have sparked a new round of controversy for the mild-mannered executive.

Technology companies are being increasingly blamed for all sorts of societal ills — including rising income equality. Pichai, given the top job in 2015 for his engineering prowess, has had to address these concerns, while juggling a host of other politically charged issues.

“He may have looked at these numbers and said: ‘I’ve had enough’ — or he might just be trying to manage the optics of his pay,” said David Larcker, a professor who researches corporate governance at Stanford Graduate School of Business.

The board of Google parent Alphabet Inc is scheduled to revisit the CEO’s pay later this year, said the person, who asked not to be identified discussing private matters. By then, almost all Pichai’s previous stock awards will have vested. That makes him an anomaly among US corporate leaders, and is even raising questions about what’s next for the 46-year-old.

“Clearly there’s very little retentive effect left for Pichai,’ said Fabrizio Ferri, an associate professor at the University of Miami who studies executive pay.

A Google spokeswoman declined to comment, and said the Alphabet board won’t comment either. The company and its directors have said nothing publicly about the CEO leaving any time soon. Pichai has never mentioned moving on either.

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