Apple executives awarded stock bonus worth up to $25M

AppleInsider

Apple last week meted out restricted stock unit awards to its executive team, with the likes of SVP of Internet Software and Services Eddy Cue, SVP of Worldwide Marketing Phil Schiller and others receiving up to 149,667 RSUs scheduled to vest through 2021.

Alongside Cue and Schiller, Apple SVP of Retail Angela Ahrendts, SVP of Software Engineering Craig Federighi, SVP and CFO Luca Maestri, SVP of Hardware Engineering Dan Riccio, SVP of Hardware Technologies Johny Srouji and SVP and General Counsel Bruce Sewell all received two batches of RSUs on Oct. 14.



A first set of tenure-based 85,013 RSUs are slated to vest in thirds on April 1 of 2019, 2020 and 2021. Up to 200 percent of a separate batch of 64,654 performance-based units will convert into common stock on Oct. 1, 2019, depending on total shareholder return between Sept. 25, 2016 through Sept. 28, 2019.



If both tenure and performance metrics are met, the executives will net as many as 214,321 shares of AAPL stock through 2021, a figure worth $25.1 million at today's prices.



Today's SEC filing comes after many of the same Apple executives saw RSUs from a 2014 award vest two weeks ago. Cue, Schiller, Federighi, Riccio, Sewell and COO Jeff Williams all received 87,578 common stock conversions as part of a performance-based award which at the time was worth nearly $10 million.

paxman

Being so lucky as to be working for the coolest company in the world these executives should distribute their bonuses equally or proportionally among all the hardworking peeps within their respective departments as a nod to the above and for the privilege of working with such unbelievable talent, be adored (mostly) by millions of customers worldwide, already be rich beyond anyone's wildest dreams, and be in the very enviable position that they can afford to dish out such vast amounts of money to the very people who help make them so successful (and most of whom probably can do with the money more than themselves). They have the opportunity to stand out as role models for the overpaid executives of the world, and to prove that they and Apple really can make America great again. 

(Now shoot me down)

JanNL

paxman said:

Being so lucky as to be working for the coolest company in the world these executives should distribute their bonuses equally or proportionally among all the hardworking peeps within their respective departments as a nod to the above and for the privilege of working with such unbelievable talent, be adored (mostly) by millions of customers worldwide, already be rich beyond anyone's wildest dreams, and be in the very enviable position that they can afford to dish out such vast amounts of money to the very people who help make them so successful (and most of whom probably can do with the money more than themselves). They have the opportunity to stand out as role models for the overpaid executives of the world, and to prove that they and Apple really can make America great again. 

(Now shoot me down)

Why not?! Makes every department/team stronger.

plankton

Laurene Powell-Jobs set a nice gifting example for these C-level execs to follow last month and perhaps some might take the hint. They are already rich beyond the dreams of Croesus but when has tens of millions ever been enough for Silicon Valley "elites".

williamh

jannl said:

paxman said:

Being so lucky as to be working for the coolest company in the world these executives should distribute their bonuses equally or proportionally among all the hardworking peeps within their respective departments as a nod to the above and for the privilege of working with such unbelievable talent, be adored (mostly) by millions of customers worldwide, already be rich beyond anyone's wildest dreams, and be in the very enviable position that they can afford to dish out such vast amounts of money to the very people who help make them so successful (and most of whom probably can do with the money more than themselves). They have the opportunity to stand out as role models for the overpaid executives of the world, and to prove that they and Apple really can make America great again. 

(Now shoot me down)

Why not?! Makes every department/team stronger.

They could do that.  Would you do that?  I don't know that I would.  If these large bonuses were distributed equally among all the hardworking peeps, how much would that amount to per peep?  There are a lot of peeps.  My wild-ass guess is that it would add up to something like the bonuses that those peeps will actually get (and are not reported on.)

crowley

Johny Srouji is a new one on me, is he the new Bob Mansfield?  What's the difference between his role and Dan Riccio's?

macxpress

Sog is all pissed because he didn't get his cut. :P

singularity

macxpress said:

Sog is all pissed because he didn't get his cut. :P

Probably thinks it should go to the secret  wing of Apple.... P.E.A.R ( paramilitary enforcement against reporters) to eliminate bad press.

rogifan_new

crowley said:

Johny Srouji is a new one on me, is he the new Bob Mansfield?  What's the difference between his role and Dan Riccio's?

He's the chips guy. Basically Mansfield's role was split into two. I do wonder about Riccio though. He doesn't own the Watch, Jeff Williams was given that. And rumors are he had Project Titan but then Cook brought in Mansfield to oversee it as it was/is kind of a mess directionally. Someone on Twitter who knows some of the goings on at Apple say Jony Ive is primarily focused on architecture now - Campus 2 and Apple stores - and loving it. I wouldn't be surprised if he retires after Campus 2 opens, especially if Apple starts shifting away from hardware and products to cloud based services.

lkrupp

paxman said:

Being so lucky as to be working for the coolest company in the world these executives should distribute their bonuses equally or proportionally among all the hardworking peeps within their respective departments as a nod to the above and for the privilege of working with such unbelievable talent, be adored (mostly) by millions of customers worldwide, already be rich beyond anyone's wildest dreams, and be in the very enviable position that they can afford to dish out such vast amounts of money to the very people who help make them so successful (and most of whom probably can do with the money more than themselves). They have the opportunity to stand out as role models for the overpaid executives of the world, and to prove that they and Apple really can make America great again. 

(Now shoot me down)

Bernie Sanders supporter I would guess.

paxman

lkrupp said:

paxman said:

Being so lucky as to be working for the coolest company in the world these executives should distribute their bonuses equally or proportionally among all the hardworking peeps within their respective departments as a nod to the above and for the privilege of working with such unbelievable talent, be adored (mostly) by millions of customers worldwide, already be rich beyond anyone's wildest dreams, and be in the very enviable position that they can afford to dish out such vast amounts of money to the very people who help make them so successful (and most of whom probably can do with the money more than themselves). They have the opportunity to stand out as role models for the overpaid executives of the world, and to prove that they and Apple really can make America great again. 

(Now shoot me down)

Bernie Sanders supporter I would guess.

Yes, I do like Bernie, or at least his rhetoric Though what I wrote above was not grounded in any kind of reality it does make sense (to me) on an ideological level. It is also clear that 'spreading the wealth', however it is done, is good for the economy, good for business generally, and thus good for the country. I

williamh said:

jannl said:

paxman said:

Being so lucky as to be working for the coolest company in the world these executives should distribute their bonuses equally or proportionally among all the hardworking peeps within their respective departments as a nod to the above and for the privilege of working with such unbelievable talent, be adored (mostly) by millions of customers worldwide, already be rich beyond anyone's wildest dreams, and be in the very enviable position that they can afford to dish out such vast amounts of money to the very people who help make them so successful (and most of whom probably can do with the money more than themselves). They have the opportunity to stand out as role models for the overpaid executives of the world, and to prove that they and Apple really can make America great again. 

(Now shoot me down)

Why not?! Makes every department/team stronger.

They could do that.  Would you do that?  I don't know that I would.  If these large bonuses were distributed equally among all the hardworking peeps, how much would that amount to per peep?  There are a lot of peeps.  My wild-ass guess is that it would add up to something like the bonuses that those peeps will actually get (and are not reported on.)

I don't know if i would do that. I am unlikely to get into a position where the question would become relevant. I am not suggesting that all their employees do not get fairly remunerated - my comment was more about fiscal rewards that to me seem utterly senseless. I genuinely believe that a world with less wealth differentiation is a happier and healthier society for all, including the very rich and the very poor. I favour any system that is 'rigged' that way. Differentiation - yes, extreme differentiation - no.

dorkus maximus

If I had a year like Apple's, my boss would be threatening me with termination, not giving me a bonus.