Tim Cook Announces New Restricted Stock Unit Program for All Apple Employees

[MacRumors]

Apple CEO Tim Cook today informed employees of a new stock incentive program, which will see Apple making all of its employees eligible to earn Restricted Stock Units (RSUs).

RSUs are normally only given to top Apple management and people from the product teams to retain talent over several years, but now other employees, including those in retail and on the AppleCare teams, will also be eligible to receive stock grants.

Tim Cook announced the new program in an email (via 9to5Mac) that was sent out to employees this morning.

This year, I'm excited to let you know that the Executive Team has created a new program for stock ownership through RSU grants. It's designed to reach employees who were not previously eligible, including many in our amazing retail and AppleCare teams.

This new program extends eligibility to everyone not covered by other RSU programs, effectively making everyone who works at Apple eligible for an RSU grant. This is an unusual step, and very special -- just like our team.

Please check HRWeb for details on this new program.

At Apple, our most important resource -- our soul -- is our people. Along with our many progressive benefit plans, this is another way for us to say thanks. On behalf of the Executive Team, I'd like to thank you for your many contributions to Apple. Working with all of you is the privilege of a lifetime.

Apple has long had an Employee Stock Purchase Plan (ESPP) that allows employees to acquire Apple stock at a discount, but Restricted Stock Units are given as a form of compensation and do not require employees to purchase the stock. Restricted Stock Units typically vest over a period of many years, providing motivation for employees to stay at the company.

Apple CEO Tim Cook, for example, will receive a total of 1,000,000 shares of Apple stock should he stay with the company until 2021 so long as Apple performs well. Cook will earn 100,000 RSUs in August 2016, 100,000 in August 2021, and an additional 800,000 RSUs divided over 10 years so long as Apple's total shareholder return is in the top third of companies in the S&P 500.

With the ability to earn RSUs for staying on at Apple, employees may be motivated to stick with the company until those Restricted Stock Units vest. According to Apple employees that spoke to 9to5Mac, Apple has already started distributing RSU awards to employees in grants ranging from $1000 to $2000 worth of shares.

Article Link: Tim Cook Announces New Restricted Stock Unit Program for All Apple Employees

 

[johnalan]

Good for them!

 

[TheGreenBastard]

Apple truly cares about not only the customer, but also the employee.

 

[techwhiz]

RSU's valued at $1000-2000 dollars where today his potential RSU's are valued at $111,000,000.
Okay....

 

[ghost187]

I thought Cook would receive 1,000,000 shares pre split. I doubt he still gets 1 million shares but 7 million instead.

 

[Cole Slaw]

Apple truly cares about not only the customer, but also the employee.

Yeah, they're all heart.

 

[rdowns]

Smart move. Costs way too much to hire vs. taking care of good employees. As a shareholder, I love this.

 

[a1exey1azar]

OMG!! Finally they will be rich...like $0.08 more a year rich! Oh yeah, please donate to Refugee and Migrant Crisis because Apple that pays whopping 2 percent tax on $74 billion in profits and keeps the rest $160 billion in the offshore zones cannot.

 

[dojoman]

Jeez I would have thought all Apple employees get RSU's prior, but they just started doing this. All these years of slave driving...finally paying up to employees.

 

[ButteryScrollin]

Apple truly cares about not only the customer, but also the employee.

Posted from my 16GB iPhone 6s

 

[bgraham]

This is an unusual step, and very special -- just like our team.

*cringe*

 

[Mike MA]

Posted from my 16GB iPhone 6s

Thanks for letting me know. I always wondered who's buying those

 

[mackinmike]

lol.. $1000-2000 worth of shares over the period of 4 years? do they realize that's like $250 a year. one would get more $$ going to another company.

 

[Rogifan]

Jeez I would have thought all Apple employees get RSU's prior, but they just started doing this. All these years of slave driving...finally paying up to employees.

Why would you think that? Is it common for big corporations to give restricted stock units to all employees? We don't have that where I work and I work for a Fortune 20 company with over 100,000 employees.

 

[Blackstick]

Apple CEO Tim Cook today informed employees of a new stock incentive program, which will see Apple making all of its employees eligible to earn Restricted Stock Units (RSUs).

RSUs are normally only given to top Apple management and people from the product teams to retain talent over several years, but now other employees, including those in retail and on the AppleCare teams, will also be eligible to receive stock grants.

Tim Cook announced the new program in an email (via 9to5Mac) that was sent out to employees this morning. Apple has long had an Employee Stock Purchase Plan (ESPP) that allows employees to acquire Apple stock at a discount, but Restricted Stock Units are given as a form of compensation and do not require employees to purchase the stock. Restricted Stock Units typically vest over a period of many years, providing motivation for employees to stay at the company.

Apple CEO Tim Cook, for example, will receive a total of 1,000,000 shares of Apple stock should he stay with the company until 2021 so long as Apple performs well. Cook will earn 100,000 RSUs in August 2016, 100,000 in August 2021, and an additional 800,000 RSUs divided over 10 years so long as Apple's total shareholder return is in the top third of companies in the S&P 500.

With the ability to earn RSUs for staying on at Apple, employees may be motivated to stick with the company until those Restricted Stock Units vest. According to Apple employees that spoke to 9to5Mac, Apple has already started distributing RSU awards to employees in grants ranging from $1000 to $2000 worth of shares.

Article Link: Tim Cook Announces New Restricted Stock Unit Program for All Apple Employees

It's a nice gesture, but pretty meaningless to anyone Tim associates with on a regular basis. At his level, everyone around him stopped doing it for the $$$ decades ago...

 

[AtheistP3ace]

I want some stock!! Can I have a job Tim?!?

 

[HowEver]

Well, sure, but if you're going to work at the same place anyways, it's $2000 MORE. Who wouldn't want that? Free money. That's a problem?

lol.. $1000-2000 worth of shares over the period of 4 years? do they realize that's like $250 a year. one would get more $$ going to another company.

 

[Benjamin Frost]

Let's see a yield of 11%. Stock might actually go up then.

 

[RockSpider]

Apple truly cares about not only the customer, but also the employee.

Is this sarcasm? Can never be sure in this place.

 

[Jax44]

Apple gives money to employees:

MacRumors forum: That sucks.

You guys must be fun at parties!

 

[Bubba Satori]

The epicenter of generosity.

 

[simon48]

Posted from my 16GB iPhone 6s

Which you willingly bought.

 

[Jiz]

Apple CEO Tim Cook today informed employees of a new stock incentive program, which will see Apple making all of its employees eligible to earn Restricted Stock Units (RSUs).

RSUs are normally only given to top Apple management and people from the product teams to retain talent over several years, but now other employees, including those in retail and on the AppleCare teams, will also be eligible to receive stock grants.

Tim Cook announced the new program in an email (via 9to5Mac) that was sent out to employees this morning. Apple has long had an Employee Stock Purchase Plan (ESPP) that allows employees to acquire Apple stock at a discount, but Restricted Stock Units are given as a form of compensation and do not require employees to purchase the stock. Restricted Stock Units typically vest over a period of many years, providing motivation for employees to stay at the company.

Apple CEO Tim Cook, for example, will receive a total of 1,000,000 shares of Apple stock should he stay with the company until 2021 so long as Apple performs well. Cook will earn 100,000 RSUs in August 2016, 100,000 in August 2021, and an additional 800,000 RSUs divided over 10 years so long as Apple's total shareholder return is in the top third of companies in the S&P 500.

With the ability to earn RSUs for staying on at Apple, employees may be motivated to stick with the company until those Restricted Stock Units vest. According to Apple employees that spoke to 9to5Mac, Apple has already started distributing RSU awards to employees in grants ranging from $1000 to $2000 worth of shares.

Article Link: Tim Cook Announces New Restricted Stock Unit Program for All Apple Employees

What ever happened to Bob Mansfield? Is he on a secret project?

 

[Vanilla Face]

lol.. $1000-2000 worth of shares over the period of 4 years? do they realize that's like $250 a year. one would get more $$ going to another company.

Not sure where you got 4 years from, but its likely something that will be continued year after year. So if it does vest in 4 years, a $2000 grant each year starting now would vest $500 next year, $1000 year 2, $1500 year 3, and $2000 for the remainder of the persons career with apple.

 

[macs4nw]

.....it's $2000 MORE. Who wouldn't want that? Free money. That's a problem?

Apparently so, according to the 'glass half empty' crowd who never seem to have a problem finding and attaching some negative angle to anything and everything Apple does.

As far as these RSUs is concerned, better late than never. How about some credit for the man?