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  • Apple’s Board of Directors Receive Restricted Stock Units


    Recent filings with the U.S. Securities and Exchange Commission on Thursday revealed that all members of Apple’s board of Directors, except for CEO Tim Cook, received 562 restricted stock units as part of an automatic grant, with shares worth over $230,000 as of right now.

    It was noted in the filings that Arthur D. Levinson, Bill Campbell, Millard Drexler, Al Gore, Rogert Iger, Andrea Jung and Ronald Sugar all received 562 restricted stock units on Wednesday worth some $232,000 as of the day’s closing price. Such a filing did not exist for Apple CEO Tim Cook, who is also on the board.

    Based on the SEC transaction Form 4 documents, the restricted shares are part of an automatic grant as outlined in the 1997 Director Stock Plan, and will vest on February 1, 2014. It was also reported earlier that a notice regarding executive compensation was also posted on Apple’s website on February 6th. The notice briefly restated that board members’ retainers start at $50,000 per year. It also implemented a new corporate governance rule requiring top executive to hold company stock worth at least triple their base salary.

    Source: AppleInsider
    This article was originally published in forum thread: Apple’s Board of Directors Receive Restricted Stock Units started by Akshay Masand View original post
    Comments 3 Comments
    1. sheon's Avatar
      sheon -
      lol nice how everyone has a restiction but tim cook can do whatever the hell he wants....

      he sucks *** as a CEO he only cares about money i dont see apple going anywhere without jobs maybe the GS4 with make me drop my iPhone 5
    1. darkyoh's Avatar
      darkyoh -
      Quote Originally Posted by sheon View Post
      lol nice how everyone has a restiction but tim cook can do whatever the hell he wants....

      he sucks *** as a CEO he only cares about money i dont see apple going anywhere without jobs maybe the GS4 with make me drop my iPhone 5
      where did you read that they got a "restriction" except tim cook ???? they got restricted stocks, these are a type of market stocks, that means all board directors except Tim Cook, got more Apple Stocks and thus they have got richer (except tim cook). - Not that Tim Cook have been left behinde, as CEO he probably gets a bonus every year or something like that, idk.....
    1. Mrteacup's Avatar
      Mrteacup -
      Quote Originally Posted by sheon View Post
      lol nice how everyone has a restiction but tim cook can do whatever the hell he wants....

      he sucks *** as a CEO he only cares about money i dont see apple going anywhere without jobs maybe the GS4 with make me drop my iPhone 5
      ... Honestly? You have no idea what you are talking about. 10/3s of Tim cooks stocks are restricted! As are most of the apple executives, I say 10/3s because he has promised stocks but he only gets them if he stays with apple and if he doesn't sell, the restrictions for gifted stocks are endless! So so naive