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11-05-2011, 06:46 PM #1
Apple Senior Executives Get Massive Payday if They Stay Through 2016
The last ten years have been good for those fortunate and talented enough to be part of Apple’s Senior Executive team. And not it just got a lot more lucrative.
According to the Wall Street Journal Apple awarded members of it Senior Executive team stick grants worth roughly $60 million dollars valued at current market prices. The document filed with the Securities and Exchange Commission revealed Apple granted the executives restricted stock shares as an incentive to stay with Apple for the next five years. Executives will be able to claim half of the stocks when they vest in 2013 and claim the remaining shares in 2016.
Executives who received 150,000 shares include CFO Peter Oppenheimer, general counsel Bruce Sewell, Worldwide Product Marketing VP Phil Schiller, iOS Software VP Scott Forstall, Operations VP Jeffery Williams and Hardware Engineer VP Bob Mansfield. Senior VP of Internet Software and Services Eddy Cue received 100,000 restricted shares.
The move is an effort to help ensures Apple’s executive will be around for at least the next five years. This is the team that Steve Jobs hand-picked to steer the ship after his passing. Hopefully these massive economic incentives work and what consumers have grown to love about Apple (and hate) continues to amaze (and infuriate).
Source: The Wall Street Journal
11-05-2011, 07:18 PM #2
thats alotta dough.....
11-05-2011, 07:40 PM #3
The move is an effort to help *ensure* Apple's *executives*
11-05-2011, 08:16 PM #4
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If those executives were cool I would see a little money spike in my PayPal ;D
11-05-2011, 09:55 PM #5
I guess all the big dogs that have been moving/resigning lately hasn't been all that great for them. This is a big move, but it's really chump change compared to Apple's net worth.
11-05-2011, 10:15 PM #6
11-05-2011, 10:48 PM #7
2016? Doesn't the World End next year? Bummer....
11-05-2011, 11:52 PM #8
So the fat cats are getting richer. Predictable. I really don't care about how much more money millionaire top execs are gonna make. I care more about the most recent product put out by the company which is having its share of new problems.
11-06-2011, 03:44 AM #9
"The Rich getting richer and the Poor getting poorer"
11-06-2011, 06:52 AM #10
I just hope that they train the next generation before 2016 ...
ButAmericans are strange people, it's not that they work to make enough money to enjoy life, they will continue working even after they have more money than they can possibly need because work defines them. They live to work rather than work to live.
The only exceptions know of is the founder of McAfee - now there's a man that knows how to enjoy lifeHe who asks a question looks foolish for 5 minutes. He who doesn't ask a question remains foolish forever.
11-06-2011, 07:51 AM #11
This kind of long-term incentive is not uncommon and all companies should adopt it in some way. It retains employees and incentivizes them to create real, long-term growth instead of making short term moves, even fraudulent ones, to create the appearance of success before they jump ship with their golden parachutes. This type of incentive plan is usually revolving as well to continue to keep talented staff. So if they're on a 4 year plan, for example, it would renew every 2 years so their's always a benefit to staying 2 more years.In addition to long-term bonuses, short-term bonuses should have a "claw back" clause which states that if it is later found that the success of the company that lead to that bonus turns out to be false or exaggerated due to fraud, tricky accounting or other issues other than real success or growth, the company has a legal right to take that bonus back from the exec, even if they leave the company.
Last edited by fleurya; 11-06-2011 at 07:57 AM.
11-06-2011, 10:00 AM #12
I wonder why the multiple resignations the the past couple of years. They must be getting pretty lucrative job offers. But considering the success of Apple, I would stick around. Wonder if working at Apple sucks for lack of a better word?
11-06-2011, 02:50 PM #13
11-07-2011, 12:09 AM #14
I doubt we'll hear anything from the occupy wall street folks, they're busy using their i-devices for pron and crappy indie music.