All of the websites owned by Yahoo are now officially part of Verizon. And former Yahoo CEO Marissa Mayer, who famously left Google to take over the Purple Portal, is walking away from the company with a pretty sweet deal. Nearly $260 million.
According to recent filings with the Securities and Exchange Commission, Mayer owned about 4.5 million shares of Yahoo, including options and restricted stock units.
Yahoo (YHOO, Tech30) stock was trading at about $52.50 midday Tuesday. So that makes Mayer’s equity holdings worth a little more than $236 million at current prices.
Mayer, who will not be sticking with Verizon (VZ, Tech30)now that Yahoo and its other digital media unit AOL are being combined under one operating unit called Oath, will also receive $23 million in severance payments to walk away from Yahoo.
A spokeswoman for Yahoo had no comment about Mayer’s compensation package.
Altaba, the new company set up that includes shareholder stakes in e-commerce giant Alibaba (BABA,Tech30), Yahoo Japan (YAHOF) and other Yahoo assets not sold to Verizon, was not immediately available for comment.
Mayer’s tenure at Yahoo was tumultuous, and some would argue that she never lived up to the hype that accompanied her after her successful stint at Google.
The decision to buy blogging/social media site Tumblr for $1 billion didn’t pan out for Mayer and Yahoo.