Apple's New Corporate Controller Luca Maestri Receives Stock Rights Worth $15 Million

[MacRumors]

Former Xerox CFO Luca Maestri officially joined Apple as Corporate Controller in late February and a filing with the U.S. Securities and Exchange Commission published earlier today reveals that he received 38,091 restricted stock units (RSUs) in March of this year.

As with most RSUs handed out by Apple, these carry staggered vesting dates with 1/8 of the total number of units converting to actual shares every six months over a four year period.

Apple's restricted stock grants are often issued as incentives to stay with the company because the shares vest over time and require employees to remain employed through each vesting date.

At Apple's current stock price, Maestri's RSUs are worth approximately $15 million, but that total will shift depending on the stock price at the time that the shares vest.

In his role as Corporate Controller, Maestri works directly under Apple senior vice president and Chief Financial Officer Peter Oppenheimer. Before serving as CFO at Xerox, Maestri formerly worked at Nokia Siemens Networks and GM.

Article Link: Apple's New Corporate Controller Luca Maestri Receives Stock Rights Worth $15 Million

 

[Mr. Retrofire]

Apple's New Corporate Controller Luca Maestri Receives Stock Rights Worth $15 Million

Not much.

 

[iGrip]

If the stock declines, what happens to his options?

 

[MagnusVonMagnum]

Hooray. Another fat cat gets stock worth $15 MILLION for sitting on his lazy arse while 90% of everyone else in the country makes $7 an hour working theirs off. That is a newsworthy RUMOR?

 

[Derpage]

15M to hide all that money from the US gov't. seems pretty low rent to me.

 

[tech4all]

Hooray. Another fat cat gets stock worth $15 MILLION for sitting on his lazy arse while 90% of everyone else in the country makes $7 an hour working theirs off. That is a newsworthy RUMOR?

Cry me a river.

 

[Portaluk]

On Wednesday pictures of Harry Potter lookalike AKA Comex, now Tony Blair lookalike Luca Maestri all over the front page

 

[Battlefield Fan]

Cry me a river.

No.

 

[camnchar]

"Corporate Controller" is a pretty sinister-sounding title. I wonder what one has to do to qualify ...

 

[bottsjw]

no wonder he's smiling.

 

[Kaibelf]

Hooray. Another fat cat gets stock worth $15 MILLION for sitting on his lazy arse while 90% of everyone else in the country makes $7 an hour working theirs off. That is a newsworthy RUMOR?

Do you have any idea how much time and hard work as well as study it takes to get to this point in a career like his? Sorry if you were too LAZY to apply yourself when it counted, but this is money he's earned, and calling him "another fat cat" is just an easy way for people to make excuses for their own lack of initiative.

 

[DisMyMac]

Do you have any idea how much time and hard work as well as study it takes to get to this point in a career like his?

All that plotting ought to be punished, and money is just the thing...

 

[cgk.emu]

Cry me a river.

Nice attitude. I bet you're a gem of a guy to hang out with.

 

[4TheLoveOfTech]

This Story is From January

He announced he was leaving Xerox on January 11 and his last day was February 28th.

On January 11 it was announced on Xerox site that he was leaving for Apple

Why is this even news on April 26th?

http://news.xerox.com/news/xerox-cfo-luca-maestri-to-leave-company

Quote from Jan 11th announcement...

"NORWALK, Conn. —
Xerox (NYSE: XRX) today announced that Luca Maestri, executive vice president and chief financial officer, is leaving the company, effective February 28, to assume the role of corporate controller at Apple."

 

[petsounds]

Do you have any idea how much time and hard work as well as study it takes to get to this point in a career like his? Sorry if you were too LAZY to apply yourself when it counted, but this is money he's earned, and calling him "another fat cat" is just an easy way for people to make excuses for their own lack of initiative.

Salaries and stock options aren't given as some sort of gold star for prior efforts; they are given as an advance on future contributions to the company.

At least in theory. In practice, it's a elite boy's club of rich people giving other rich people money for not working any harder, and often less hard, than employees lower on the totem pole.

 

[RedOrchestra]

.

Options are one thing - I wanna know what his strike price is?

 

[macman34]

He doesn't look like a weasel at all...

Do you have any idea how much time and hard work as well as study it takes to get to this point in a career like his? Sorry if you were too LAZY to apply yourself when it counted, but this is money he's earned, and calling him "another fat cat" is just an easy way for people to make excuses for their own lack of initiative.

You are either too naive, or expect others to be naive. Plenty of people put in "hard work and study", the royal road to such echelons though is via arse kissing, back stabbing and ruthlessness.

 

[bungiefan89]

Do you have any idea how much time and hard work as well as study it takes to get to this point in a career like his? Sorry if you were too LAZY to apply yourself when it counted, but this is money he's earned, and calling him "another fat cat" is just an easy way for people to make excuses for their own lack of initiative.

LOL! Immediately imply the person who's pointing out the disparity of wealth in this country is "lazy."

That's like when someone says Nicki Minaj's music is no good, a fan of hers will scream about how jealous the other person is of her "success" or the typical, "you're just a hater!"

In all seriousness though, what exactly is this guy doing that's so valuable that he's just been handed five times more money than many people will make over the course of their entire lives?

 

[KdParker]

ummm....ok?

 

[Portaluk]

LOL! Immediately imply the person who's pointing out the disparity of wealth in this country is "lazy."

That's like when someone says Nicki Minaj's music is no good, a fan of hers will scream about how jealous the other person is of her "success" or the typical, "you're just a hater!"

In all seriousness though, what exactly is this guy doing that's so valuable that he's just been handed five times more money than many people will make over the course of their entire lives?

As George Carlin says its a big boys club and you ain't in it!!!

 

[cyberdogl2]

LOL! Immediately imply the person who's pointing out the disparity of wealth in this country is "lazy."

That's like when someone says Nicki Minaj's music is no good, a fan of hers will scream about how jealous the other person is of her "success" or the typical, "you're just a hater!"

In all seriousness though, what exactly is this guy doing that's so valuable that he's just been handed five times more money than many people will make over the course of their entire lives?

he's controlling the finances for one of the biggest companies on earth. it's five times more money because the market can't find a team of 5 people to do what this guy does.

we live in a time where an individual can make a difference on this planet more than 20 people can (in their respective fields)

this is the free enterprise. it's what the market bears.

 

[Born Again]

Wow - he sounds and looks like a villain


Actually Steve jobs looks like a villain

 

[law guy]

Here's to the crazy ones ... or the risk adverse, penny pinching (you want to use glass and metal, do you know how much that's going to cost?), blue chip, button down guys from Xerox and GM. Which isn't fair at all, but I hope he's not a negative influence. Which I hope is also true of Adobe's former CTO - but at least Adobe works on pro applications and communicates.

 

[b166er]

I think the US is approaching roughly 90% of its available jobs being in the service sector. So even if you study like crazy, are extremely well educated, and maybe even know a few people, there is a very low chance you land a gig this high up in any company, let alone a company as rare and praised as Apple. There simply are not as many jobs that pay six figures or more as there are jobs that pay less than six figures.

Yes, "service sector" is a broad term that embodies a lot of titles, some of which are quite prosperous.

The George Carlin reference was pretty much 100% accurate. It's not an opinion, it's just numbers, and there isn't enough room at the top for everyone. There isn't even all that much room in the middle anymore. It doesn't mean someone is lazy just because they aren't making good money. You have no idea how many people I see on a regular basis who have great education- teachers, architects, programmers- and they are running a cash register.

 

[norrismantooth]

He should use the money from said stocks for hair plugs or a rug.