Andy Jassy 2022 Pay Falls to $1.3M, Amazon Pays Jeff Bezos $1.6M – The Hollywood Reporter – thqaftqlm

Andy Jassy 2022 Pay Falls to $1.3M, Amazon Pays Jeff Bezos $1.6M – The Hollywood Reporter

Amazon CEO Andy Jassy noticed his 2022 compensation crater in 2022, with a large inventory award he acquired in 2021 making up the spine of his long-term Amazon renumeration.

In response to Amazon’s annual proxy submitting, which the corporate filed Thursday morning, Jassy was paid $1.3 million in 2022, together with a $317,500 wage (that’s famously the utmost base wage any worker on the firm can obtain). The remaining $981,000 included firm private safety prices, journey prices, and firm contributions to his 401K plan.

In 2021 Jassy acquired a inventory grant valued at greater than $200 million tied to his promotion to CEO, with the shares vesting over 10 years. “This award is designed to ascertain a long-term proprietor’s perspective and encourage daring, long-term initiatives, in the identical method that Mr. Bezos’s shares as founder incentivized him to concentrate on long-term, expansive development, and is meant to characterize most of Mr. Jassy’s compensation for the approaching years,” Amazon’s board wrote within the new proxy.

In the meantime, govt chairman Jeff Bezos acquired $1.7 million in compensation from Amazon, together with an $81,000 wage and $1.6 million in safety and journey prices.

The Amazon govt with the best pay was AWS chief Adam Selipsky, who had a pay package deal topping $41 million, together with that $317,000 wage and $40 million in inventory awards. Amazon CFO Brian Olsavsky earned $18.2 million, together with a $314,000 wage and practically $18 million in inventory awards.

The proxy submitting additionally coincided with the discharge of Jassy’s annual letter to shareholders, persevering with a convention began by Bezos in 1997. In his new letter, Jassy touches on his efforts to make the corporate extra environment friendly, whereas additionally noting three areas of curiosity to Hollywood: The macroeconomy, massive language fashions (LLMs) and promoting.

“Change is all the time across the nook. Generally, you proactively invite it in, and typically it simply comes a-knocking. However, once you see it’s coming, you need to embrace it. And, the businesses that do that effectively over a protracted time period normally succeed,” Jassy wrote, noting that the corporate seemed intently throughout its enterprise and determined to shutter models and lay off employees.

With regard to promoting, Jassy was bullish, suggesting that the corporate will broaden its streaming advert enterprise (the corporate already has a free streaming video service known as Freevee, and has adverts in its Thursday Evening Soccer broadcasts).

“We additionally see future alternative to thoughtfully combine promoting into our video, dwell sports activities, audio, and grocery merchandise,” Jassy wrote. “We’ll proceed to work exhausting to assist manufacturers uniquely have interaction with the correct viewers, and develop this a part of our enterprise.”

Lastly, on LLMs, Jassy says the corporate has been working by itself fashions “for some time now” and is incorporating them into some AWS merchandise. “I might write a whole letter on LLMs and Generative AI as I believe they are going to be that transformative, however I’ll depart that for a future letter,” Jassy wrote. “Let’s simply say that LLMs and Generative AI are going to be an enormous deal for patrons, our shareholders, and Amazon.”

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