It’s been a long wait for Angela Ahrendts to finally join Apple, but as the new VP of Retail just took office last week, Apple decided to make her move from fashion to tech much sweeter by granting her stock options worth a whopping $68 million.
As part of her signing bonus, Ahrendts has received 113,334 restricted stock units that vest at several different periods between 2014 and 2018. Based on AAPL’s closing price today of $600.96 the shares may be worth $68.1 million, but could be worth much more if the stock price continues to grow.
Apple announced Ahrendts hiring back in October 2013, but the former Burberry CEO didn’t transition to Apple until last week, with rumors claiming she was waiting until June for a fat £8 million bonus. If Ahrendts left any money on the table Apple definitely made it worth her while to come sooner by setting the vesting date of her first 16,264 shares to June 1, 2014, where she could net $9.78 million.
The rest of Ahrendts stock vests on June 14th, 2018, but with whispers echoing around Cupertino that she’s being groomed to become the next CEO, we doubt she’ll have trouble sticking around.
- Source Apple