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    Nikesh Arora's $128 mn pay package may make him one of highest-paid US execs

    Synopsis

    Arora, who spent two years at SoftBank Group as founder Masayoshi Son’s No 2, became Japan’s best-compensated public company executive in 2015.

    About half of it will vest only if the firm’s shares more than double, while the rest is tied to his remaining on the job.
    NEW YORK: Nikesh Arora could become one of the highest-paid US executives after being named to lead Palo Alto Networks, which granted him a pay package worth about $128 million.

    Arora is entitled to equity awards worth as much as $126 million when he takes over as chief executive officer on June 6, the Santa Clara, California-based company said on Monday in a regulatory filing. About half of it will vest only if the firm’s shares more than double, while the rest is tied to his remaining on the job.

    Arora, who spent two years at SoftBank Group as founder Masayoshi Son’s No 2, became Japan’s best-compensated public company executive in 2015. Regulatory filings show that the tech giant dished out 31.5 billion yen ($290 million) in compensation and related expenses during his tenure.

    At SoftBank, Arora helped Son make the company the primary financier behind an anti-Uber alliance and led investments in Indian ecommerce provider Snapdeal.com and real-estate website Housing-.com. He left after Son made it known he wasn’t looking to retire.

    At Palo Alto Networks, Arora will receive $1-million in salary, a $1-million target bonus and $40 million of restricted stock that vests over seven years. He’s also entitled to receive stock options valued at $66 million that will vest in increments if the shares climb at least 150%. He’ll get all of them if the price quadruples.

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