“Apple last week granted more than $122 million in restricted stock-based compensation to members of its executive team for their current and future efforts in driving the company’s success, regulatory filings with Securities and Exchange Commission show,” Katie Marsal reports for AppleInsider. The grants were “based on the closing price of Apple shares Monday ($105.26).”
MacDailyNews Take: Perfect timing.
Marsal continues, “The grants for restricted stock units, which won’t vest until March 24, 2012, aim to reward members of Apple’s top brass for their performance thus far and lock them into their roles at the company for the foreseeable future. Should any of the executives vacate their position ahead of the vesting date, they’ll forfeit their right to claim the shares.”
“The most heavily rewarded executives where Chief Operating Officer, Timothy D. Cook, who received 200,000 shares ($21,052,000), and Senior Vice President Retail, Ron Johnson, and Chief Financial Officer, Peter Oppenheimer, each of which were granted 150,000 shares ($15,789,000),” Marsal reports. “Five other executives were each granted 120,000 shares ($12,631,200), including Senior Vice President Worldwide Product Marketing, Phil Schiller [and] Senior Vice President Industrial Design, Jonathan Ive.”
More in the full article here.
An opinion while I am in France: some please convey to the Apple brass that NO APPLE CEO OR DIRECTOR OF ANYTHING IN FRANCE SHOULD BE REWARDED FOR THEIR WORK. I PRESUME THE SAME IS TRUE ALL OVER EUROPE. THESE PEOPLE AND ALL THEIR ASSISTANTS DO NOT DO A DAMN THING TO PROMOTE APPLE EFFECTIVELY OR TO ASSIST THE STUBBORN OWNER OF MACS.
This is why Apple is not advertised and therefore is practically unknown in many places!!!
I can testify to this any time to anyone and submit plenty of cases. Just get in touch with me. CB
the reward for stockholders of a very successful and well run company (like apple) should be eighter a climbing stockprice (something apple couldn’t deliver in the last 12 month) or a dividend. i don’t mind paying these people lots of money, they are obviously some of the best in the world in their fields but with 20bn on the bank and high quarterly earnings apple has some responsibilty for their stockowners too. give us our share, it is OUR money anyway. become a grown-up company and start paying dividends! 50% of the quarterly earnings would be enough for a start i suppose.
(and no you don’t need 20 bn to innovate through a possible downturn of the economy)
“As the VP & CTO of a company with a projected cash flow of about $0.5 billion next year, “
Sure you are. Did I mention that I’m the chairman of GE myself? Oh, and my brother in law runs a fifty billion dollar hedge fund. No, wait.. He runs a trillion dollar hedge fund! Yeah, that’s the ticket!
Don’t try to pull an argumentum ad veracundiam when you’re anonymous, you silly little blowhard.
“I can say with better perspective than most that this is too much.”
I can say as an AAPL shareholder, that I’m very glad that it’s not up to you. Like I said to another poster, buy a share, propose an executive pay cut at the next shareholder meeting, and I’ll vote against it.
-jcr
“US auto is dead, just hasn’t been taken off life support yet.”
Fair enough. If they need $25B in handouts to stay in business, I’ll agree that they’re dead meat.
-jcr
” find me some proof that the the scroll wheel was Schiller’s idea”
I heard it from Tony Fadell, who has nothing to gain or lose from giving Phil any credit he doesn’t deserve.
-jcr
@ John C. Randolf
Facts are facts whether you want to believe in them or not. I did not say I was CEO or COO or President of anything. I’m a technologically oriented person and thus VP and CTO are probably as high as I’m going to go in any major corporation. Whether you believe that or not is your problem, not mine.
And, I’d wager every share I have in AAPL that I have been a stockholder in Apple longer than you have; hold more stock currently than you do; and maybe even held it longer than you’ve been alive.
However, my stock votes, unfortunately, will not sway the board or change stockholder overall votes. Unless you control 100,000 shares or more (I don’t) then you are just one of the herd. Bye-the-bye, how many shares do you hold? 50,000? 10,000? 1,000? 100? 1?
Excessive executive compensation is wrong no matter who the people are or which company is involved.
@jcr / re: “I heard it from Tony Fadell, who has nothing to gain or lose from giving Phil any credit he doesn’t deserve.”
Thanks, JCR. I always enjoy reading your comments (despite the bashing that’s going on in this thread, mind you).
And while we’re on a music theme tonight, why not Shania Twain’s take-off on Robert Palmer’s song, with
YouTube: Man! I Feel Like a Woman
Note how Shania’s version had one of the backup dancer/musicians grovin’ to the rhythm out of synch, just like in Palmer’s original.