Apple's new general counsel awarded hefty gratuity
Apple Computer, which last month lured Donald Rosenberg away from a 30-year tenure at IBM Corp. to fill its general counsel vacancy, appears to have done so with the help of approximately $18 million.
According to documents filed with the Securities and Exchange Commission, the Cupertino, Calif.-based company on Dec. 1 awarded Rosenberg 200,000 shares of restricted stock.
The shares will not fully vest until four years after their issue date, but at the close of the stock market on Tuesday were valued at over $18.25 million.
Rosenberg arrived at Apple about three weeks ago, replacing former vice president and general counsel Nancy Heinen, who departed back in May amid concerns over the company's stock option discrepancies.
Prior to joining Apple, Rosenberg spent over 30 years at IBM, holding numerous positions including senior vice president and general counsel; vice president and assistant general counsel for litigation; and counsel to the company's mainframe division.
His focus on securities, intellectual property and competition issues has also involved extensive interaction with the SEC, the US Department of Justice and the European Economic Commission.
According to documents filed with the Securities and Exchange Commission, the Cupertino, Calif.-based company on Dec. 1 awarded Rosenberg 200,000 shares of restricted stock.
The shares will not fully vest until four years after their issue date, but at the close of the stock market on Tuesday were valued at over $18.25 million.
Rosenberg arrived at Apple about three weeks ago, replacing former vice president and general counsel Nancy Heinen, who departed back in May amid concerns over the company's stock option discrepancies.
Prior to joining Apple, Rosenberg spent over 30 years at IBM, holding numerous positions including senior vice president and general counsel; vice president and assistant general counsel for litigation; and counsel to the company's mainframe division.
His focus on securities, intellectual property and competition issues has also involved extensive interaction with the SEC, the US Department of Justice and the European Economic Commission.
Comments
HAHA @ Four years.
Impressive. I am not sure I will make that much in my whole life.
$18,000,000 USD?
You'd have to make $234.38 USD Per hour
working 8 hours a day
20 days a month
for...
40 Years...
My guess is you won't, but I hope I'm wrong.
So he'd ony have to work for 1 year and then wait 35.
"The most powerful force in the universe is compound interest." ~Albert Einstein (allegedly)
Lotsa risk for that guy though... If he screws up just a SMALL bit with all these patent issues because of the four year period, both Apple's shares and his job are gone...
Not $18 million worth the risk in the context of the world.
Besides, her has an army of lawyers who actually know the stuff working for him.
Not $18 million worth the risk in the context of the world.
Besides, her has an army of lawyers who actually know the stuff working for him.
Well, he doesn't risk losing $18 million in addition, but I'm sure that shares would plummet if he really screws up, plus getting sued, that never helps... He doesn't 'have' that money persay so he can't go get full asset protection I'm sure.