Apple Executives Receive Restricted Stock Bonuses Worth More Than $12 Million Each

Discussion in 'Mac Blog Discussion' started by MacRumors, Mar 5, 2014.

  1. macrumors bot

    MacRumors

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    Six Apple executives received more than 30,000 shares of stock in the form of restricted stock units or RSUs according to a series of filings with the SEC. RSUs are typically issued to employees to encourage them to stay with the company. They are awarded in a similar way to stock options, but convert directly into shares of stock upon vesting.

    At current prices, the awards are worth as much as $12.1 million per executive.

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    In this case, the shares appear to have been awarded as part of the executives' 2014 compensation package. Apple Senior Vice Presidents Eddy Cue, Craig Federighi, Dan Riccio, Phil Schiller, Bruce Sewell, and Jeffrey Williams all received equal bonus awards, with shares granted thusly:

    - 22,738 RSUs with one-third of the units scheduled to vest into full shares of Apple stock on April 1 of 2016, 2017 and 2018.

    - 6,626 RSUs scheduled to vest on October 1, 2015, with that number subject to adjustment based on Apple's total shareholder return.

    - 6,416 RSUs scheduled to vest on October 1, 2016 with the same adjustments as the 2015 award.

    In June of 2013, Apple's board adjusted the company's executive compensation package to consider shareholder return, as compared to companies in the S&P 500, as part of senior management's bonus scheme. In this case, Apple executives can see their award increased by as much as 100%, or decreased to 0, depending on the company's performance.

    Apple executives typically receive bonus awards every other year, with bonuses paid out over several years as part of the company's overall executive retention package. Executives who leave the company see their unvested RSUs expire. Tim Cook did not receive any awards as his compensation package is determined independently of his senior staff.

    Article Link: Apple Executives Receive Restricted Stock Bonuses Worth More Than $12 Million Each
     
  2. macrumors member

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    #2
    Talk about lucrative additions! :eek:
     
  3. macrumors member

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    #3
    carries the company, doesn't get anything
    jony ive.
     
  4. Contributing Editor

    jlgolson

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    #4
    Actually, Ive probably got a similar award but for some inexplicable reason his compensation package does not get reported to the SEC even though his title is "Senior Vice President".
     
  5. macrumors 6502

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    #5
    Nice! For them that is.....

    -Mike
     
  6. macrumors 65816

    GenesisST

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    #6
    Might only apply to people with hair... :D
     
  7. macrumors regular

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    #7
    Isn't Oppenheimer this September, a year before the first portion vests? Making this worthless to him?
     
  8. macrumors 6502a

    szw-mapple fan

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    #8
    Does chest hair count? :D
     
  9. macrumors newbie

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    #9
    It must be nice...
     
  10. macrumors 6502

    0xyMoron

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    #10
    and the rich gets richer...
     
  11. macrumors G5

    jav6454

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    #11
    You are right. He might loose out on the options unless he reverses his decision to leave. Something I doubt.
     
  12. Moderator

    OllyW

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    #12
    He's not one of the six executives in the list.
     
  13. macrumors 68030

    needfx

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    #13
    Ive is clever not falling for the money bait.
     
  14. macrumors G5

    Rogifan

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    #14
    U think he doesn't get these too? How else does he pay for a $17M house in SF?
     
  15. macrumors 65816

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    #15
    and the circle jerk among the 1% continues...
     
  16. macrumors 68030

    needfx

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    #16
    apparently, he has declined RSUs in the past, so maybe he is getting traveler's cheques :D
     
  17. macrumors G5

    Rogifan

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    #17
    :D

    Anyway for whatever reason he's not listed as an "executive officer" so his salary and stock doesn't have to be disclosed with the SEC.
     
  18. macrumors 6502

    Tronic

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    #18
    I imagine he makes equal to what Cook does as CEO. Jobs probably demanded Ive be well compensated when he was preparing to step down.
     
  19. macrumors 601

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    #19
    I wonder if regular employees get anything. The rich get richer it seems.
     
  20. Contributing Editor

    jlgolson

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    #20
    Nope, all Apple's employees volunteer there in exchange for free luxury motor coach rides from San Francisco.
     
  21. macrumors G3

    rhett7660

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    #21
    Good for them! I am glad to see a big company excelling and making money. Whether it is Google, Apple, or Amazon.
     
  22. Redbeard25, Mar 6, 2014
    Last edited: Mar 6, 2014

    macrumors regular

    Redbeard25

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    #22
    Is Ive an American citizen?

    I wonder if he is part of some international management structure and as such, wouldn't get reported this way? #notanaccountant
     
  23. macrumors 65816

    oplix

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    #23
    the SEC reporting bit regarding Ive is interesting..
     
  24. Moderator

    OllyW

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    #24
    He's a British citizen.
     
  25. macrumors regular

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    #25
    Clever, how does one reward their top execs if the stock is stuck well blow its all-time high? Create more.
     

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