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

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Nov 4, 2011.

  1. MacRumors macrumors bot

    MacRumors

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    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
     
  2. coolbreeze macrumors 65816

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  3. srxtr macrumors 6502a

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  4. ECUpirate44, Nov 4, 2011
    Last edited: Nov 4, 2011

    ECUpirate44 macrumors 603

    ECUpirate44

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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.
     
  5. AppleDroid macrumors 6502a

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    #5
    Pretty sure I could settle comfortably with a paltry $60M ;)
     
  6. Risco macrumors 68000

    Risco

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  7. LS1 macrumors member

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    #7
    no one deserves that kind of money.....
     
  8. Matthew Yohe macrumors 68020

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    #8
    Man, what a waste of money! They could've fed the hungry! etc...
     
  9. Ljohnson72 macrumors 6502a

    Ljohnson72

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    Oh please. Here we go again. :rolleyes:
     
  10. ECUpirate44 macrumors 603

    ECUpirate44

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    #10
    I don't know why you quoted me, I didn't say that at all...
     
  11. mazz0 macrumors 65816

    mazz0

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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.
     
  12. Noctilux.95 macrumors 6502

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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:rolleyes:
     
  13. EatRiceInCal macrumors newbie

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    #13
    After reading Jobs' biography, I don't think he would've allowed this if he were still around.
     
  14. ad2435 macrumors member

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    #14
    How many options for the $0.80 / hour chinese labor putting this stuff together?
     
  15. Mackan macrumors 65816

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    Watch Apple slowly transform into dust, now when Jobs is gone.
     
  16. xlii macrumors 68000

    xlii

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    #16
    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...
     
  17. flash84x macrumors regular

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    #17
    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.
     
  18. shadowhawk2020 macrumors member

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    #18
    He's gone now.
     
  19. newdeal macrumors 68020

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    #20
    ...

    Yes lets give our rich executives bonuses butmgot forbid we pay a dividend to our shareholders
     
  20. nfl46 macrumors 603

    nfl46

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  21. CherryJello macrumors regular

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    #22
    Ive not getting a bonus? The first whisper of his departure from the company I've seen.
     
  22. DESNOS macrumors 6502

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    #23
    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.
     
  23. Alexs45 macrumors member

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    #24
    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?
     
  24. CalBoy macrumors 604

    CalBoy

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    #25
    My guess is you can do it as well as some people can do editing.
     

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