Xiaomi CEO's $1.5-bn stock award from his firm is one of the largest ever

Xiaomi CEO Lei Jun gets about $1.5 billion ahead of company's listing in Hong Kong

Chinese smartphone maker Xiaomi Corp., whose valuation could soon register at $70 billion, gave its founder and chief executive a token of its appreciation: $1.5 billion in stock, no strings attached, in one of the largest corporate paydays in history.

Xiaomi, which is in the process of going public in Hong Kong, this week said in a securities filing that it recently awarded the stock to a separate company controlled by founder and CEO Lei Jun.

The $1.5 billion amount awarded to Mr. Lei’s entity, Smart Mobile Holdings Ltd., reflects what Xiaomi recorded as share-based compensation expenses on April 2.