“Six Apple executives received more than 30,000 shares of stock in the form of restricted stock units or RSUs according to a series of filings with the SEC,” Jordan Golson reports for MacRumors. “SUs are typically issued to employees to encourage them to stay with the company.”
“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.]
Well worth the expenditure.
NOT. These six haven’t improved the value of the company in a couple years, which you should know by tracking AAPL. The money should be spent on new product development, an area where Apple is not performing up to its past standards.
What have YOU done to improve the value of anything? Beoching from your desk is worthless. Adding value takes courage and intellect.
Obviously, Apple’s RD&D budget is not to your liking. Maybe you could chip in the next billion or ask your buddy Karl for a bit.
Apple spends plenty on R&D.
http://www.tuaw.com/2014/02/12/a-look-at-apples-randd-expenditures-from-1995-2013/
The purpose of options is to retain key leadership because if any of them suddenly left it would cost the company much, much more.
An amazing thing – negligence, incompetence, and arrogance has never before been so richly rewarded to anyone less deserving. The failure that is Tim Cook has no bounds – even the staff reaps the benefits of simply being where they are and who they once were. If I were them I would do the same thing – shrug and head to the bank. Who the hell cares? No one trying to stop this madness so why not just enjoy it. The more of this that goes on the sooner the day of reckoning will come. And it will.
Thank you for exercising your First Amendment right.
Yes, no matter how stupid he is.
No Jony Ive on the list. Not sure what to make of that.
“Fix iOS 7 look and feel before you get anything man”.
Isn’t that the truth.
Fixing OS X wouldn’t be a bad idea either!
Jony Ive isn’t a director so doesn’t need to be included on a SEC filing.
I was taught that it’s wrong to be jealous of someone who does well. But it’s okay to be envious. I’m green with envy.
The math doesn’t add up: if all shares are received, they would total 35780 shares, and at today’s price of $530.75 that would equal $18,990,235.00. So the six SVPs could get that much by April 1, 2018. At the peek of over $700 per share, that would be $25 million.
This is called incentive to do the right thing so Appl will rise. As a customer and not a shareholder, I can imagine that the right thing for the stock price isn’t necessarily the right thing for the customers, mostly it is. As customer, I can imagine the failure to update a low margin item like Apple’s 27″ monitor might be counterproductive in the stock price. Now if I had 7 million riding on the stock price, I might not approve a low margin item for sale.
Apple is not like other stocks. Profit margin is healthy and loosely related to the stock price. If Apple decided to. Discontinue the 27″ it wouldn’t be noticed in the sales numbers but many would be upset. Apple will do what is right for the business first and the stock second.
http://ycharts.com/companies/AAPL/chart/#/?securities=type:company,id:AAPL,include:true,,&calcs=id:profit_margin,include:true,,id:price,include:true&format=real&recessions=false&zoom=5&startDate=&endDate=&chartView=
But yet there are plenty of Apple Retail employees who can’t support themselves on just an Apple job.