Storage
Product chief shoots straight to the top of the pay league, out-earning CEO
The World Cup may be over but a reminder of the staggering sums footballers are paid has emerged from an unexpected quarter: NetApp's latest signing to its squad of execs.Chief Product Officer Syam Nair, who succeeded Harvinder Bhela in July last year after moving from Zscaler, is being made to feel very welcome, judging by the sums involved.According to NetApp's proxy statement ahead of its annual shareholder meeting in September, Nair received total compensation of $34.27 million in the fiscal year ended April 24, despite joining in July.
Nair's reported compensation included $30.68 million in stock awards, derived from a $31.85 million target equity grant described by NetApp as a "make-whole" award for equity forfeited when he left Zscaler, where he was CTO. He was also promised a $5 million signing bonus, half of which was paid during fiscal 2026 and included in the total. The second half was due after his first anniversary, with repayment provisions applying if he leaves within 24 months.
As The Reg has previously pointed out, it's tough at the top for both the overpaid superstars of the beautiful game and the prima donnas who professionally kick a ball around a field.Still, unlike many football teams that are losing money, at least NetApp was in the black in fiscal 2026. The American storage biz grew revenue 5.4 percent to $6.93 billion, and operating income bounced 25 percent to $1.67 billion. Like some of its peers, NetApp's share price is riding high – up roughly 60 percent in the year to date – amid surging demand for AI-ready infrastructure.More than 1,100 AI and data preparation deals were logged in the year, with 500 coming in the final quarter. That trading performance and buoyant market sentiment flowed directly into the C-suite's coffers.The star striker – sorry for the labored football analogy; let's kick that into touch – CEO George Kurian had to make do with $22.16 million. NetApp says 95 percent of his target direct compensation is "at risk," taking the form of cash incentives and equity awards rather than guaranteed salary.
