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Old Nov 4, 2011, 07:40 PM   #1
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Apple Awards Executives 1,000,000 Shares of Stock to Stay Until 2016






Apple has awarded 1 million shares of stock to seven top executives as a reward for their hard work during Apple's record fiscal year -- the first time the company did more than $100 billion in revenue.

Earlier we reported that the recently promoted Eddy Cue received 100,000 shares of stock in the form of a restricted stock unit or RSU. These RSU's convert into freely tradable shares of stock 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 other six executives each received 150,000 RSU's, vesting in two equal parts -- 50% on 6/21/2013 and the remaining 50% on 3/21/2016. Those executives are:

- Scott Forstall, Senior Vice President, iOS Software (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, Worldwide Product Marketing (SEC Filing)
- Bruce Sewell, Senior Vice President and General Counsel (SEC Filing)
- Jeff Williams, Senior Vice President, Operations (SEC Filing)

An Apple spokesperson told the Wall Street Journal that the awards are "meant to reward them down the road for their hard work in helping to keep Apple the most innovative company in the world."

No paperwork has been filed showing any award for CEO Tim Cook. Earlier this year, when he was appointed CEO, Cook was awarded 1 million shares, vesting in 2016 and 2021, should he stay with the company. The only other executive on Apple's leadership team to not receive an award, at least according to the SEC, is Senior Vice President, Industrial Design Jonathan Ive.

At current prices, Cue's 100,000 share award would be worth $40 million, and Forstall, Mansfield, Oppenheimer, Schiller, Sewell, and Williams' awards are worth $60 million each.

Article Link: Apple Awards Executives 1,000,000 Shares of Stock to Stay Until 2016
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Old Nov 4, 2011, 07:43 PM   #2
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Go 1%!!!!
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Old Nov 4, 2011, 07:45 PM   #3
srxtr
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Wish I was in their position
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Old Nov 4, 2011, 07:47 PM   #4
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Excessive? Yes, but well deserved. Apple has been on fire the past few years and with the way things are structured today, it was necessary to keep them on board for the future.

Last edited by ECUpirate44; Nov 4, 2011 at 07:59 PM.
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Old Nov 4, 2011, 07:47 PM   #5
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Pretty sure I could settle comfortably with a paltry $60M
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Old Nov 4, 2011, 07:49 PM   #6
Risco
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Why nothing for Ives?
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Old Nov 4, 2011, 07:49 PM   #7
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Originally Posted by ECUpirate44 View Post
Excessive? Yes, but well deserved. Apple has been on fire the past few years.
no one deserves that kind of money.....
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Old Nov 4, 2011, 07:49 PM   #8
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Man, what a waste of money! They could've fed the hungry! etc...
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Old Nov 4, 2011, 07:52 PM   #9
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no one deserves that kind of money.....
Oh please. Here we go again.
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Old Nov 4, 2011, 07:53 PM   #10
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no one deserves that kind of money.....
I don't know why you quoted me, I didn't say that at all...
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Old Nov 4, 2011, 07:54 PM   #11
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Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_0_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9A402 Safari/7534.48.3)

Ives is probably the most important member of the team, he must be making the most money, surely.
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Old Nov 4, 2011, 07:57 PM   #12
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Wow I'm so happy for them. Maybe now they can finally buy some proper clothing and school supplies for their kids
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Old Nov 4, 2011, 07:57 PM   #13
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After reading Jobs' biography, I don't think he would've allowed this if he were still around.
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Old Nov 4, 2011, 07:58 PM   #14
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How many options for the $0.80 / hour chinese labor putting this stuff together?
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Old Nov 4, 2011, 07:59 PM   #15
Mackan
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Watch Apple slowly transform into dust, now when Jobs is gone.
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Old Nov 4, 2011, 07:59 PM   #16
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So the big execs are rewarded for just doing the job they are hired for? How about the rank and file? I guess they should be happy to just have jobs...
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Old Nov 4, 2011, 08:02 PM   #17
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After reading Jobs' biography, I don't think he would've allowed this if he were still around.
I have a feeling this is partly due to Steve's passing, they are lining their pockets for the next 5 years to keep these guys around and to keep doing what they do.
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Old Nov 4, 2011, 08:03 PM   #18
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So the big execs are rewarded for just doing the job they are hired for? How about the rank and file? I guess they should be happy to just have jobs...
He's gone now.
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Old Nov 4, 2011, 08:03 PM   #19
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Good news.
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Old Nov 4, 2011, 08:04 PM   #20
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Yes lets give our rich executives bonuses butmgot forbid we pay a dividend to our shareholders
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Old Nov 4, 2011, 08:06 PM   #21
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Hmm, that's ridiculous! 1Milli...smh.
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Old Nov 4, 2011, 08:06 PM   #22
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Ive not getting a bonus? The first whisper of his departure from the company I've seen.
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Old Nov 4, 2011, 08:08 PM   #23
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You really shouldn't have reported on this, Jordan. It's going to turn into a flame war. I'm not even going to bother checking up on this thread anymore; it can only go down from here.
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Old Nov 4, 2011, 08:09 PM   #24
Alexs45
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Why didn't Ive get a stock reward? Very concerning to me as an AAPL owner and a huge fan.

Does this mean he could be on his way out?
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Old Nov 4, 2011, 08:09 PM   #25
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You can 'do' more than a revenue?
My guess is you can do it as well as some people can do editing.
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