The deal with Verizon was first announced previous year when the struggling company, agreed to sell its main internet business to Verizon, the huge U.S. telecoms company, for $4.8bn.
Microsoft offered $44.6 billion to Yahoo, which was ten times more than the offer of Verizon, but Yahoo declined.
Mayer took over Yahoo in July 2012, the fourth CEO in as many years. Yahoo was never able to rekindle its revenue growth under Mayer's stewardship.
The money, detailed in a 429-page document sent to shareholders, includes the value of shares already owned, outstanding share options, a "golden parachute" payment, cash payments and medical benefits.
That pay, which will be completely vested at the season of the shareholder vote, does exclude her compensation and rewards in the course of recent years, or the estimation of other stock that Ms Mayer has officially sold.
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The $186m comes on top of an estimated $200 million she has already received in salary and bonuses during her five year reign as the head of the struggling web... And the ultimate cost of this failure will turn out to be around $186 million for the chief executive, who will exit the company post its acquisition. Although Yahoo's core businesses of email, news and search continued to tread water under Ms Mayer's leadership, long-held investments in Alibaba, China's leading e-commerce company, and Yahoo Japan, an affiliated company controlled by SoftBank, increased in value, driving up Yahoo's stock price.
At the time, Mayer's payout after the Verizon sale is complete was pegged at $55 million by the company.
The rise was actually the result of the climbing value of their stake in the Chinese Internet giant, Alibaba whose IPO in 2014 was the biggest offering of stock in tech in the history of USA.
Yahoo's remaining assets, including a massive patent portfolio, are staying under the control of these investors and they decided upon a new name for the company - Altaba. Many analysts believe Mayer will have no role in Verizon after the deal is done. There is now no information but the company is looking to unload some of the Yahoo Japan shares to create value.