Pidgley, managing director Rob Perrins and four other bosses will share the long-term bonus pot if they deliver ambitious plans to return £1.7bn to shareholders over the next nine years.
Berkeley is planning to pay three special dividends to shareholders in 2015,2018 and 2021.
Under the plan, according to a report in the Sunday Times, the Berkeley bosses could be given 19.6m shares worth £280.9m at Friday’s closing share price.
Pidgley and Perrins would collect 5m shares each worth £71.7m.
Perrins said: “This totally aligns management with shareholders and it’s spread over ten years, which is how a good remuneration scheme should be.
“And it’s a hell of a target.”