Yahoo! CEO Joins $1 Club

In an SEC filing yesterday (see here), Yahoo! disclosed that the salary of Terry Semel, its CEO, will now be $1 per year (it had been $600,000). Hence, Semel joins Schmidt, Brin and Page of Google (see here) with a $1 salary. The big difference between Semel and the Google guys though is that in connection with his salary cut Semel was issued a seven-year stock option to purchase 6 million shares of Yahoo! at $31.59 (the closing price on the date of grant). Conversely, the Google guys got nothing.