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  • Apple's New VP of Retail Starts Job, Receives Massive Stock Options


    Apple’s new senior vice president of retail, John Browett, has officially started working and received a lottery-like lump sum of stock options for his troubles.

    Browett is only days into his official tenure at Apple and is already $61 million richer, as part of his welcoming package includes 100,000 shares of restricted company stock. The first 5,000 of Browett’s shares will vest on October 20th of this year, with an additional 15,000 shares vesting next April to coincide with his one-year anniversary at the company. Browett will have the rest of his shares vested annually to the tune of 20,000 shares a year according to a pair of filings made with the Securities and Exchange Commission this week.

    While that $61 million in shares can’t be cashed today, with the way Apple’s quarterly reports continue to beat estimates, that $61 million will likely be worth a lot more by the time all 100,000 shares are vested.

    Browett’s compensation package is fashioned similar to Tim Cook’s compensation package as well as other Apple executives. Cook’s restricted shares vest in 2016 and 2021, ensuring he stays with the company for a very, very long time. But, Cook was also awarded 1 million restricted shares, ten times the amount of shares Browett’s package included.

    Becoming an Apple VP is a lot like winning the executive lottery, except hard work and proven results replace dumb luck.

    Source: CNET
    This article was originally published in forum thread: Apple's New VP of Retail Starts Job, Receives Massive Stock Options started by Phillip Swanson View original post
    Comments 5 Comments
    1. bigliquid530's Avatar
      bigliquid530 -
      Damn I got in the wrong buisness
    1. TheExtra404's Avatar
      TheExtra404 -
      eh, still has a ways to go to really cash in on all non vested profits/salary...
    1. mytran80's Avatar
      mytran80 -
      So how hard do I have to work to make $61 million ? I'm only a man
    1. bigboyz's Avatar
      bigboyz -
      Overcompensating?? He drives a Monster Truck to work?? haha! I mean all big bosses have a team..not a one man show. I mean pay the man what he is worth..at the same time if Apple doesn't pay him another company will. Didn't MMi write and article about employee poaching? $61 million? You think he saved the world haha..ridiculous pay for not much of anything in my opinion..gotta love big business.
    1. Moreno53's Avatar
      Moreno53 -
      Quote Originally Posted by bigboyz View Post
      Overcompensating?? He drives a Monster Truck to work?? haha! I mean all big bosses have a team..not a one man show. I mean pay the man what he is worth..at the same time if Apple doesn't pay him another company will. Didn't MMi write and article about employee poaching? $61 million? You think he saved the world haha..ridiculous pay for not much of anything in my opinion..gotta love big business.
      Whatever your getting paid its definitely way to much for whatever it is you do.