Apple executives receive shares of stock

Apple is in the midst of wrapping up a landmark year appropriate now, managing to push prior $100 billion in earnings for the very first time within the company's history. As being a "thank you" to the best executives accountable for overseeing this achievement, the Mac-maker is handing out one particular million shares of stock in all to seven key senior vice presidents, according to the Wall Road Journal (by way of MacRumors).

The 7 recipients are: Eddy Cue (SVP, World wide web Providers), Scott Forstall (SVP, iOS Software package), Bob Mansfield (SVP, Hardware Engineering), Peter Oppenheimer (SVP and CFO), Phil Schiller (SVP, Worldwide Product Advertising), Bruce Sewell (SVP and general counsel) and Jeff Williams (SVP, Functions). Apple was needed by law to file the bonuses with the SEC; Cue got 100,000 shares of restricted stock models (RSU) as well as the other six SVPs received 150,000 apiece in the identical.

The RSU status of such shares successfully keeps the seven executives locked in as Apple staff until finally 2016. A limited stock unit can't be traded freely right up until an physical exercise date has long been reached. Within the situation of such bonuses, 50 % with the awarded shares get to their physical exercise dates in 2013 as well as the relaxation in 2016, effectively locking the SVPs into their Apple work till that date in the earliest. Anybody of them can pick to depart at any level, naturally, however it would appear at the price of shedding any shares that haven't hit their exercising date.

CEO Tim Cook is locked into a related type of arrangement. He acquired a single million RSU shares when he was appointed towards the best place before this calendar year, with one chunk vesting in 2016 as well as the relaxation in 2021, presented he's nonetheless with the organization. Also, only to provide you with an notion of the quantities we're talking about here: as of right now, the a hundred and fifty,000 shares of Apple stock presented to every of the 6 SVPs is really worth $60 million (Cue's one hundred,000 is value $40 million).