“They are awarded in a similar way to stock options, but convert directly into shares of stock upon vesting,” Golson reports. “At current prices, the awards are worth as much as $12.1 million per executive.”
Golson reports, “In this case, the shares appear to have been awarded as part of the executives’ 2014 compensation package. Apple Senior Vice Presidents Eddy Cue, Craig Federighi, Dan Riccio, Phil Schiller, Bruce Sewell, and Jeffrey Williams all received equal bonus awards… Tim Cook did not receive any awards as his compensation package is determined independently of his senior staff.”
Read more in the full article here.
[Thanks to MacDailyNews Reader "Lynn Weiler" for the heads up.]