Apple Awards Executives 1,000,000 Shares of stock to stay except 2016

Apple has awarded 1 million shares of stock to seven prime executives as a reward for their hard work throughout Apple’s file fiscal yr — the first time the corporate did greater than $a hundred billion in earnings.

prior we stated that the not too long ago promoted Eddy Cue obtained one hundred,000 shares of inventory within the type of a restricted inventory unit or RSU. These RSU’s convert into freely tradable shares of inventory on their exercise dates. In Cue’s case, 25% of his shares on 9/21/2014 and 75% on 9/21/2016, assuming he continues his employment at Apple.

according to Apple’s filings with the SEC, the opposite six executives each acquired a hundred and fifty,000 RSU’s, vesting in two equal parts — 50% on 6/21/2013 and the remainder 50% on three/21/2016. those executives are:

Scott Forstall, Senior vp, iOS instrument (SEC filing)
Bob Mansfield, Senior vice president, Hardware Engineering (SEC filing)
Peter Oppenheimer, Senior vice president and CFO (SEC filing)
Phil Schiller, Senior vice president, international Product marketing (SEC filing)
Bruce Sewell, Senior vp and basic suggestions (SEC filing)
Jeff Williams, Senior vice chairman, Operations (SEC submitting)

An Apple spokesperson instructed the Wall side road Journal that the awards are “intended to reward them down the street for his or her onerous work in helping to keep Apple the most innovative company in the world.”

No forms has been filed exhibiting any award for CEO Tim cook dinner. past this 12 months, when he used to be appointed CEO, cook dinner used to be awarded 1 million shares, vesting in 2016 and 2021, should he stay with the company. the one other govt on Apple’s leadership group to now not obtain an award, at the least in line with the SEC, is Senior vice president, Industrial Design Jonathan Ive.

At current costs, Cue’s a hundred,000 share award could be price $forty million, and Forstall, Mansfield, Oppenheimer, Schiller, Sewell, and Williams’ awards are worth $60 million each and every.

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