Apple Awards Executives 1,000,000 Shares of Stock to Stay Until 2016

MacRumors · Nov 4, 2011, 07:40 PM

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

coolbreeze · Nov 4, 2011, 07:43 PM

Go 1%!!!!

srxtr · Nov 4, 2011, 07:45 PM

Wish I was in their position

ECUpirate44 · 07:59 PM

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.

AppleDroid · Nov 4, 2011, 07:47 PM

Pretty sure I could settle comfortably with a paltry $60M

Risco · Nov 4, 2011, 07:49 PM

Why nothing for Ives?

LS1 · Nov 4, 2011, 07:49 PM

Quote:

Originally Posted by ECUpirate44

Excessive? Yes, but well deserved. Apple has been on fire the past few years.

no one deserves that kind of money.....

Matthew Yohe · Nov 4, 2011, 07:49 PM

Man, what a waste of money! They could've fed the hungry! etc...

Ljohnson72 · Nov 4, 2011, 07:52 PM

Quote:

Originally Posted by LS1

no one deserves that kind of money.....

Oh please. Here we go again.

ECUpirate44 · Nov 4, 2011, 07:53 PM

Quote:

Originally Posted by LS1

no one deserves that kind of money.....

I don't know why you quoted me, I didn't say that at all...

mazz0 · Nov 4, 2011, 07:54 PM

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.

Noctilux.95 · Nov 4, 2011, 07:57 PM

Wow I'm so happy for them. Maybe now they can finally buy some proper clothing and school supplies for their kids

EatRiceInCal · Nov 4, 2011, 07:57 PM

After reading Jobs' biography, I don't think he would've allowed this if he were still around.

ad2435 · Nov 4, 2011, 07:58 PM

How many options for the $0.80 / hour chinese labor putting this stuff together?

Mackan · Nov 4, 2011, 07:59 PM

Watch Apple slowly transform into dust, now when Jobs is gone.

xlii · Nov 4, 2011, 07:59 PM

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...

flash84x · Nov 4, 2011, 08:02 PM

Quote:

Originally Posted by EatRiceInCal

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.

shadowhawk2020 · Nov 4, 2011, 08:03 PM

Quote:

Originally Posted by xlii

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.

Mouseinhat · Nov 4, 2011, 08:03 PM

Good news.

newdeal · Nov 4, 2011, 08:04 PM

Yes lets give our rich executives bonuses butmgot forbid we pay a dividend to our shareholders

nfl46 · Nov 4, 2011, 08:06 PM

Hmm, that's ridiculous! 1Milli...smh.

CherryJello · Nov 4, 2011, 08:06 PM

Ive not getting a bonus? The first whisper of his departure from the company I've seen.

DESNOS · Nov 4, 2011, 08:08 PM

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.

Alexs45 · Nov 4, 2011, 08:09 PM

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?

CalBoy · Nov 4, 2011, 08:09 PM

Quote:

Originally Posted by sammich

You can 'do' more than a revenue?

My guess is you can do it as well as some people can do editing.

Nov 4, 2011, 07:40 PM	#1
MacRumors macrumors bot Join Date: Apr 2001	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
	-8

Nov 4, 2011, 07:43 PM	#2
coolbreeze macrumors 65816 Join Date: Jan 2003 Location: UT	Go 1%!!!! __________________ Nexus 4 & iPhone 5 for work 2013 MBP Retina 15/2.7/16/512 (Samsung Panel/Sandisk SSD) & Lenovo X230t for work
	31

Nov 4, 2011, 07:47 PM	#4
ECUpirate44 Banned Join Date: Mar 2010 Location: NC	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.
	0

Nov 4, 2011, 07:47 PM	#5
AppleDroid macrumors 6502 Join Date: Apr 2011 Location: Illinois	Pretty sure I could settle comfortably with a paltry $60M __________________ Living proof you can love Macs and Android simultaneously
	22

Nov 4, 2011, 07:49 PM	#6
Risco macrumors 6502a Join Date: Jul 2010 Location: United Kingdom	Why nothing for Ives?
	33

Nov 4, 2011, 07:45 PM	#3
srxtr macrumors 6502a Join Date: Jul 2010	Wish I was in their position
	10

Nov 4, 2011, 07:49 PM	#8
Matthew Yohe macrumors Demi-God Join Date: Oct 2006	Man, what a waste of money! They could've fed the hungry! etc...
	-33

Nov 4, 2011, 07:54 PM	#11
mazz0 macrumors 6502 Join Date: Mar 2011 Location: Leeds, UK	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.
	8

Nov 4, 2011, 07:57 PM	#12
Noctilux.95 macrumors regular Join Date: Jan 2010 Location: LA	Wow I'm so happy for them. Maybe now they can finally buy some proper clothing and school supplies for their kids
	6

Nov 4, 2011, 07:57 PM	#13
EatRiceInCal macrumors newbie Join Date: Mar 2009	After reading Jobs' biography, I don't think he would've allowed this if he were still around.
	33

Nov 4, 2011, 07:58 PM	#14
ad2435 macrumors member Join Date: Dec 2009	How many options for the $0.80 / hour chinese labor putting this stuff together?
	30

Nov 4, 2011, 07:59 PM	#15
Mackan macrumors 65816 Join Date: Sep 2007	Watch Apple slowly transform into dust, now when Jobs is gone.
	-16

Nov 4, 2011, 07:59 PM	#16
xlii macrumors 68000 Join Date: Sep 2006 Location: Millis, Massachusetts	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...
	32

Nov 4, 2011, 08:03 PM	#19
Mouseinhat macrumors newbie Join Date: Sep 2011	Good news.
	0

Nov 4, 2011, 08:04 PM	#20
newdeal macrumors 65816 Join Date: Oct 2009	... Yes lets give our rich executives bonuses butmgot forbid we pay a dividend to our shareholders
	0

Nov 4, 2011, 08:06 PM	#21
nfl46 macrumors 68040 Join Date: Oct 2008	Hmm, that's ridiculous! 1Milli...smh. __________________ \| 16GB Apple iPhone 5 \| 13" Macbook Pro \| Apple TV 2 \| 16GB Apple iPad Mini \| 8GB LG Google Nexus 4 \|
	0

Nov 4, 2011, 08:06 PM	#22
CherryJello macrumors regular Join Date: May 2009	Ive not getting a bonus? The first whisper of his departure from the company I've seen.
	-10

Nov 4, 2011, 08:08 PM	#23
DESNOS macrumors 6502 Join Date: Aug 2011	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.
	-6

Nov 4, 2011, 08:09 PM	#24
Alexs45 macrumors member Join Date: Jan 2005	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?
	-5

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