Apple has awarded a million shares of stock total to its top executives to stay until 2016. These stock shares were awarded to Apple’s top executives as a reward for their hard work during Apple’s record fiscal year, in which they managed to generate more than $100 billion in revenue. These executives that were awarded 150,000 shares will have a $60+ million payday in 2016.
This past Wednesday the company doled out 150,000 shares each to most of its SeniorVice Presidents, short of recently-minted SVP Eddy Cue, who received a slightly smaller 100,000 share bonus, and design guru Jonathan Ive who was not listed in the filings. That works out to just over a $60 million pay day to those who got the 150,000 shares, with Cue’s cut coming out to a little more than $40 million, all based off today’s closing price.
Those who got the 150,000 shares will reach 50 percent vesting come June 21, 2013, with the other 50 percent fully vesting on March 21, 2016. 25,000 of Cue’s shares vest on September 21, 2014, with the rest vesting two years later. With all of these, the bonus is contingent on the executives continuing to work at the company.
According to the SEC filling, those six executives getting 150,000 shares of stock are:
- Scott Forstall, Senior Vice President, iOS Software (SEC Filing)
- Bob Mansfield, Senior Vice President, Hardware Engineering (SEC Filing)
- Peter Oppenheimer, Senior Vice President and CFO (SEC Filing)
- Phil Schiller, Senior Vice President, Worldwide Product Marketing (SEC Filing)
- Bruce Sewell, Senior Vice President and General Counsel (SEC Filing)
- Jeff Williams, Senior Vice President, Operations (SEC Filing)
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