Yahoo shareholders will vote on 8 June on the proposed sale of the company's internet businesses to Verizon Communications for $4.48 billion. It has been noted that she now holds Yahoo stock, stock options, and restricted stock units worth a total of $186 million.
For Ms. Mayer, that includes stock options valued at more than $85 million and Yahoo shares valued at almost $77 million at Tuesday's closing share price of $48.40, according to the information in the filing.
Perks due to Mayer in that package include one year of base salary at $1m, a $2m bonus payment, 12 months of COBRA health insurance premiums, and $15,000 to cover "outplacement services" in case her time at Yahoo! and Google does not prove sufficient to land Mayer another job.
A series of acquisitions, such as the social network Tumblr, also failed to pay off for the group, and Yahoo looked to separate the Alibaba stake from its core operations.
Her $186 million in Yahoo stock, stock options and restricted stock units are based on Monday's stock price of $48.15, according to data filed on Monday in the documents sent to shareholders about the Verizon deal.
It wasn't until previous year that major events of 2013 and 2014 were brought to public light: hackers had broken into Yahoo's systems and committed the two largest thefts of internet users' data in history.
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The hefty payout comes despite Ms. Mayer's inability to accomplish what she was hired to do five years ago: revitalize the fading internet icon after its struggles with high employee and executive turnover and declines in ad revenue.
Mayer took over Yahoo in July 2012, the fourth CEO in as many years. At the closing, all outstanding Yahoo stock options will be fully vested and exercisable, the filing noted.
But Mayer, the company's chief executive, will be well compensated for her failure.
During her time at Yahoo! Many analysts believe Mayer will have no role in Verizon after the deal is done.
Probably, one of the reasons why this deal got so much interest is not only linked to its impressive value, but also to the fact that Verizon cut part of the initial offer and finally said it will be paying $4.5 billion for the company.