Apple executives are awarded stock bonuses that could be worth tens of millions of dollars

Apple executives are awarded stock bonuses that could be worth tens of millions of dollars
Certain Apple executives, including marketing chief Phil Schiller and retail head Angela Ahrendts, combined to receive Restricted Stock Units (RSUs) that won't vest until fiscal year 2022. Other executives included in the awards are Eddy Cue, who is in charge of internet software, software engineering head (and star of the Apple iPhone X unveiling) Craig Federighi, CFO Luca Maestri, Hardware Engineering chief Dan Riccio, Hardware Technologies leader Johny Srouji, and COO Jeffrey Williams.

Overall, 128,584 RSUs were handed out by Apple's Board of Directors. On October 1st, 64,885 RSUs were awarded, and 63,699 RSUs were passed out on October 15th. The RSUs are incentives designed to motivate the executives. For example, the October 1st stock incentive is based on Apple's total stockholder return from the first day of fiscal 2018 to the last day of fiscal 2020. Depending on how Apple's shares perform, 200% of the 64,885 RSUs could end up in the lucky executives' hands. The RSUs awarded on October 15th are based on continued employment with Apple and will vest in equal amounts over three periods, April 1 of 2020, 2021 and 2022.

If Apple's stock performs as forecast by Wall Street, each executive could end up with 193,469 common shares currently worth $31 million. But you can't count on the stock to perform as expected. For example, the recent vesting of RSUs from a 2014 award did not vest in full as the company's total stockholder return failed to reach the 85th percentile for companies listed on the S&P 500, which was a condition for the award to be fully vested. Still, each member of Apple's executive team still managed to pocket $10 million each.

source: AppleInsider

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13 Comments

1. Pitrich

Posts: 239; Member since: Apr 13, 2016

Dam. I'm in the wrong field.

2. KeyserSoze

Posts: 387; Member since: Oct 06, 2014

Normal working Americans don't benefit from buying/supporting inferior American products like the ones from Apple. Instead of creating more American jobs, offering cheaper healthcare, or giving raises to rank-and-file employees, all the billions in Apple profits goes only into the pockets a few already super rich corporate executives.

6. kiko007

Posts: 7493; Member since: Feb 17, 2016

I like how you expect a cellphone company to help get you cheaper healthcare.

12. sissy246

Posts: 7115; Member since: Mar 04, 2015

I think he means to all employees, not him.

10. piyath

Posts: 2445; Member since: Mar 23, 2012

How you got so much stupid? Do you have a "how to be stupidest person in the world?" degree or something.....?lol How do you propose to make healthcare cheaper, make more jobs, giving wages by taking back that 10 million worth of incentives???

13. PhoneCritic

Posts: 1354; Member since: Oct 05, 2011

It would be nice if this American company actual paid it's fair share of taxes in America instead of keeping it offshore. Look I am not just attacking Apple but Microsoft, Google, Oracle, QC etc. all these companies refuse to pay the 35% corporate tax back in the US ( heck Apple did not want to pay the 1% corporate tax in Ireland) this would help our economy and if they at least manufacturing 1 or two components here in the states would create employment. This cant keep going this way because sooner or later things will crash. See if you manufacture everything overseas and don't want to pay taxes taking American Jobs away then expecting to sell back you goods in america for huge amount your gonna find out that no one will buy them. Why? Simple - we have no Jobs!!!

11. HansP

Posts: 542; Member since: Oct 16, 2011

The banks here in Ireland loves what Apple is doing. :) The EU? Maybe not so much.

3. apple-rulz

Posts: 2117; Member since: Dec 27, 2016

I give those executives credit for making smart life choices, too bad for those (myself included) who aren’t as business savvy.

4. PhoneInQuestion

Posts: 496; Member since: Aug 20, 2017

You wouldn't survive if that were the case anyways.

5. Plasticsh1t

Posts: 3106; Member since: Sep 01, 2014

Fruits of hard work.

7. notfair

Posts: 742; Member since: Jan 30, 2017

jokes on them, by 2022 apple stock will lose half of it's value. Still it will a lot of money.

8. AVVA1

Posts: 228; Member since: Aug 01, 2017

Source?

9. Leo_MC

Posts: 7432; Member since: Dec 02, 2011

Elvis told him - don't you know he's alive?

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