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Apple Executives Dominate Highest-Paid List Among S&P 500 Companies

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Apr 12, 2001
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Bloomberg Businesweek reports that a survey of executive compensation at Standard & Poor's 500 companies for fiscal 2012 shows four Apple executives holding down the second, third, fourth, and fifth slots behind Oracle CEO Larry Ellison. The group of Apple executives, which does not include CEO Tim Cook, benefited from a massive stock grant shortly after the death of Steve Jobs, with the grants vesting in equal parts in 2013 and 2016 as incentives to keep the executives at the company.
Four of the five highest-paid employees at Standard & Poor's 500 companies aren't chief executive officers. They're Apple Inc. senior lieutenants receiving compensation packages designed to keep management intact in an increasingly competitive industry.

The four executives are Bob Mansfield, Bruce Sewell, Jeffrey Williams and Peter Oppenheimer, according to fiscal 2012 compensation figures for top earners filed with the U.S. Securities and Exchange Commission. About 80 percent of S&P 500 companies had submitted their numbers as of April 12.
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The four Apple executives each received 150,000 shares as part of their grants, with the shares worth approximately $64 million each at today's stock price. Salary, bonuses, and other compensation pushed 2012 totals for Sewell, Williams, and Oppenheimer close to $70 million. Mansfield topped the group of Apple executives with total compensation of $85.5 million, as he received accelerated vesting of shares as an incentive to remain at Apple after he had announced his retirement.

mansfield_oppenheimer_sewell_williams.jpg
Two other Apple executives saw major stock grants in November 2011, with marketing chief Phil Schiller receiving the same 150,000 restricted stock units as the other senior executives and Internet Software and Service head Eddy Cue receiving 100,000 units just two months after receiving another 100,000 units in recognition of his promotion to the senior vice president level. Schiller and Cue were not, however, included in Bloomberg Businessweek's rankings, as their total compensation is not publicly reported by Apple.

Cook ranked 1016th on this year's list with total compensation of $4.17 million, although he is benefiting from a previous award of one million restricted stock units made when he became CEO. Those units are worth $425 million at today's stock price, with half of the units vesting in 2016 and the remaining half vesting in 2021.

Article Link: Apple Executives Dominate Highest-Paid List Among S&P 500 Companies
 
Article Link
https://www.macrumors.com/2013/04/15/apple-executives-dominate-highest-paid-list-among-sp-500-companies/
croooow

croooow

macrumors 65816
Jul 16, 2004
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1080p said:
In b4 all of the hippies who will come and say "no one deserves to make that much money!"
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That money has to go somewhere, why not the people who helped make the company so successful?

I understand why, but I still find it very amusing that their boss was 1016th on the list while they are 2nd, 3rd, 4th and 5th.
 
D

dennno

macrumors regular
Jul 22, 2011
120
0
Well it's only logical they got Apple to where it is today. It's Steve's vision, but without the right team it would've been difficult to get there.
 
Agent OrangeZ

Agent OrangeZ

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Mar 17, 2010
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croooow said:
That money has to go somewhere, why not the people who helped make the company so successful?

I understand why, but I still find it very amusing that their boss was 1016th on the list while they are 2nd, 3rd, 4th and 5th.
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Well these ARE the guys who make Safari seem snappier! ;)
 
V

vmistery

macrumors 6502a
Apr 6, 2010
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UK
Makes sense to me. Now what would be interesting / revolutionary is if they linked top earners pay to bottom earners (foxconn workers taking into account cost of living difference) pay

EDIT: To clarify I mean by linked pay not the same but but a limited multiple
 
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nazaar

nazaar

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Oct 28, 2008
577
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rolling in dough

who doesn't love money
 

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Rogifan

Rogifan

macrumors Penryn
Nov 14, 2011
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So if all the SVP's received similar compensation and stock grants (and no reason to think they didn't) would they be 9 of 10 highest payed execs?

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Krazy Bill said:
Jony Ive is going to be pissed when he reads this. :eek:
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Why? I'm sure he's glad his salary and stock options don't have to be disclosed.
 
Agent OrangeZ

Agent OrangeZ

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Mar 17, 2010
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vmistery said:
Makes sense to me. Now what would be interesting / revolutionary is if they linked top earners pay to bottom earners (foxconn workers taking into account cost of living difference) pay
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I think doing a single simple task on an assembly line is MUCH different than making strategic decisions for one of the most valuable and influential companies in the world.
 
V

vmistery

macrumors 6502a
Apr 6, 2010
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1080p said:
I think doing a single simple task on an assembly line is MUCH different than making strategic decisions for one of the most valuable and influential companies in the world.
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Thats why their pay would be much lower still. I said linked not the same.
 
the8thark

the8thark

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Apr 18, 2011
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1,735
croooow said:
That money has to go somewhere, why not the people who helped make the company so successful?

I understand why, but I still find it very amusing that their boss was 1016th on the list while they are 2nd, 3rd, 4th and 5th.
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Maybe Cook is taking a leaf from the Jobs book and having s similarly lower salary (compared to the VPs).

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nazaar said:
who doesn't love money
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He's poker legend that man.
 
T

Tiger8

macrumors 68020
May 23, 2011
2,479
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the8thark said:
Maybe Cook is taking a leaf from the Jobs book and having s similarly lower salary (compared to the VPs).

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He's poker legend that man.
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Read later re: Tim Cook, last year he was rewarded shares worth as much as all those 5 guys, combined.
 
ChrisTX

ChrisTX

macrumors 68030
Dec 30, 2009
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Good for them. Apple is a great company, and its execs deserve to be compensated. Hard work always pays off in the end. :cool:
 
P

paul4339

macrumors 65816
Sep 14, 2009
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732
croooow said:
...
I understand why, but I still find it very amusing that their boss was 1016th on the list while they are 2nd, 3rd, 4th and 5th.
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Yup it's the right way to do it, most of their compensation is based on RSU. So when the stock tanks in the long term so do the value of the their future RSUs. (Mansfield being smart, for cashing in early)

.
 
Mike Oxard

Mike Oxard

macrumors 6502a
Oct 22, 2009
804
458
MacRumors said:
[The four Apple executives each received 150,000 shares as part of their grants, with the shares worth approximately $64 million each at today's stock price.
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Nine thousand six hundred trillion dollars!! That's a very generous payout, I didn't know Apple shares are now worth $64 million each!! ;)
 
A

apple_iBoy

macrumors 6502a
Oct 28, 2003
734
495
Philadelphia, PA
Compile 'em all said:
To be honest with the amount of work these guys have to do, money doesn't really matter.
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I agree that they must do a hell of a day's work, and keeping their salaries competitive keeps them with the company.

But most of us might not come anywhere near this kind of wealth for a lifetime of work. Puts it in a little bit of perspective.
 
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