Apple board members receive $262K in restricted stock
Members of Apple's board of directors this week received automatic grants of restricted stock units worth $262,000 as of Thursday, according to U.S. Securities and Exchange Commission filings.
James Bell, Al Gore, Rogert Iger, Andrea Jung, Arthur D. Levinson, Ronald Sugar and Susan Wagner each received 1,521 restricted stock units on Tuesday as part of Apple's non-employee director stock plan. The RSUs are set to vest on Feb. 1, 2019, contingent of continued service with the company.
Expectedly absent from the list of board members is Apple CEO Tim Cook, who also serves on the company's board. Cook's compensation plan does not include director incentives, and instead involves a base salary and stock bonuses that mature in lockstep with the company's fiscal performance.
As usual, the board's stock grants were issued on the same day as Apple's annual shareholders meeting. Held at Apple Park for the first time, this year's event covered a number of topics, with Cook on hand to address questions from shareholders of record.
This year saw stock holders shoot down a proxy proposal to create an internal committee dedicated to human rights issues, particularly those present within Apple's supply chain. Also struck down was a proposal to amend the proxy process.
Apple's own measures, including one covering executive compensation, passed muster.
Cook took the opportunity to update stockholders on company initiatives and performance. Of note, revenue from Apple's wearables business, which includes Apple Watch, AirPods and Beats headphones, is nearing that of a Fortune 300 company.
James Bell, Al Gore, Rogert Iger, Andrea Jung, Arthur D. Levinson, Ronald Sugar and Susan Wagner each received 1,521 restricted stock units on Tuesday as part of Apple's non-employee director stock plan. The RSUs are set to vest on Feb. 1, 2019, contingent of continued service with the company.
Expectedly absent from the list of board members is Apple CEO Tim Cook, who also serves on the company's board. Cook's compensation plan does not include director incentives, and instead involves a base salary and stock bonuses that mature in lockstep with the company's fiscal performance.
As usual, the board's stock grants were issued on the same day as Apple's annual shareholders meeting. Held at Apple Park for the first time, this year's event covered a number of topics, with Cook on hand to address questions from shareholders of record.
This year saw stock holders shoot down a proxy proposal to create an internal committee dedicated to human rights issues, particularly those present within Apple's supply chain. Also struck down was a proposal to amend the proxy process.
Apple's own measures, including one covering executive compensation, passed muster.
Cook took the opportunity to update stockholders on company initiatives and performance. Of note, revenue from Apple's wearables business, which includes Apple Watch, AirPods and Beats headphones, is nearing that of a Fortune 300 company.
Comments
Emphasis mine. Looks like each person received $262k, based on the story.
A simple math, like you said, seems to suggest that the RSUs are priced like the common shares.
I didn't think the story was meaningless or vague, but maybe the story was clarified after your post.
Non- employee Apple board members (i.e. members other than Tim Cook) each receive $250,000 (give or take a few bucks) in RSUs each year. The number of shares awarded depends on AAPL's closing price on the day the RSUs are granted, which this year was this Tuesday (i.e. February 13th). They also receive salaries ranging from $100,000 to $300,000.
This is all in the publicly viewable SEC Form 8-K filed on February 14th.
The current market value of those RSUs is around $262K because the stock price went up slightly but that's just the paper value right now, it can go up or down until they are exercised by the recipients after the vesting date of February 1, 2019.