Apple’s top executives get impressive stock options

Sat, Nov 5, 2011

Finance, News

First it was Tim Cook and now it’s the rest of Apple’s upper management that are on the receiving end of generous bonuses. A recent Apple filing with the SEC indicates that the company handed out 150,000 shares to each of its top executives, save for Eddy Cue who received 100,000 shares.

Those receiving 150,000 shares include Bruce Sewell, Jeff Williams, Phil Schiller, Peter Oppenheimer, Bob Mansfield, Scott Forstall. 50% of these shares will vest on June 21, 2013 with the other 50% set to vest on March 21, 2016.

“Our executive team is incredibly talented and they are all dedicated to Apple’s continued success,” said Apple spokesman Steve Dowling in a statement. “These stock grants are meant to reward them down the road for their hard work in helping to keep Apple the most innovative company in the world.”

Though Cue’s bonus is less than the others, it’s his second major bonus in the past few months. Cue was awarded 100,000 restricted stock units when he was promoted to SVP status at the beginning of September to oversee Apple’s iTunes Store, iCloud, iAd, and iBookstore. Cue, who is a 22-year Apple veteran, helped create the company’s first online store in 1998, and Apple’s iTunes Music Store in 2003–the latter being the business that would become the foundation for the App Store and iBookstore, places where Apple sells other digital goods.



Comments are closed.

eXTReMe Tracker