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Thread: Apple Executives Awarded 19.6M Worth of Restricted Stock Unit Bonuses

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    What's Jailbreak? Akshay Masand's Avatar
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    Default Apple Executives Awarded 19.6M Worth of Restricted Stock Unit Bonuses


    Eight of Apple’s executives were recently awarded identical bonuses in the form of conditional restricted stock units which are worth over $19.6 million at the stock’s current price. The awards were disclosed recently in a filing with the US Securities and Exchange Commission which are scheduled to vest in three intervals through 2019.

    The eight executives consist of Apple SVP of Retail and Online Stores, Angela Ahrendts; SVP of Internet Software and Services, Eddy Cue; SVP of Software Engineering, Craig Federighi; SVP and CFO, Luca Maestri; SVP of Hardware Engineering, Dan Riccio; SVP of Worldwide Marketing, Phil Schiller; SVP and General Counsel Bruce Sewell; and SVP of Operations, Jeffrey Williams.

    Much like previous bonus awards, the Cupertino California company is issuing the restricted units as an incentive for continued employment and sustained output as the vesting dates reach further into the future. The units are split up into three batches which are set to vest on the following dates: April 1, 2017; April 1, 2018; and April 1, 2019. In addition to the employment requirement, the RSUs vest according to relative total shareholder return as calculated from September 28, 2014 through September 30, 2018 with between 0% and 200% of the “target” number of units vesting on October 1, 2017.

    One thing to note here is that the SEC filing may contain an error as it shows 191,439 derivative securities disposed on October 17 not acquired as they should be. That being said the explanation and number of shares reported as owned following the transaction add up to Apple’s RSUs bonus.

    Source: AppleInsider

    Twitter: @AkshayMasand

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    The rich get richer....

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