The holiday season came a little early this year for Apple’s top executive team. According to CNET, Apple has given 7 of its execs stock bonuses that could mean huge payouts in the years to come.
Many Senior Vice Presidents at Apple have been given 150,000 shares, while the newly-added SVP Eddy Cue has been given 100,000 shares. For the majority of the exec team, this 150,000 shares bonus will equal a $60+ million payout in 2016.
“This past Wednesday the company doled out 150,000 shares each to most of its Senior Vice Presidents, short of recently-minted SVP Eddy Cue, who received a slightly smaller 100,000 share bonus, and design guru Jonathan Ive who was not listed in the filings. That works out to just over a $60 million pay day to those who got the 150,000 shares, with Cue’s cut coming out to a little more than $40 million, all based off today’s closing price.
Those who got the 150,000 shares will reach 50 percent vesting come June 21, 2013, with the other 50 percent fully vesting on March 21, 2016. 25,000 of Cue’s shares vest on September 21, 2014, with the rest vesting two years later. With all of these, the bonus is contingent on the executives continuing to work at the company.”
Not too shabby.
