Apple’s A-series chip mastermind gets a happy Christmas bonus

By

johny_hero
The man who designs Apple's chips just got a few more of his own.
Photo: Apple

Johny Srouji may only have been an Apple Senior Vice President for a hot minute, but already he’s reaping the benefits of his new position — courtesy of the festive awarding of restricted stock units currently valued at $9.6 million, plus common stock holdings worth $10.9 million.

As revealed in his first U.S. Securities and Exchange Commission filing as SVP of Hardware Technologies, Srouji was awarded 90,270 RSUs on October 5 this year.

Although it’s not known whether or not the stock package was tied in with his promotion to Apple’s executive team, it is interesting timing if it isn’t — considering that it’s close to 2x the previous stock awards he received in 2012, 2013, and 2014.

Srouji’s stock will vest 12.5 percent in semi-annual instalments over four years. Right now, Srouji’s Apple stock is worth a little over $34 million in total.

Johny Srouji first joined Apple in 2008 to lead development of the A4 chip, the first Apple-designed system on a chip. The A-series chips are now used to power all iPhones, iPads, and iPod touch devices. In the press release announcing Srouji’s promotion, Tim Cook wrote that his “team delivers world-class silicon designs which enable new innovations in our products year after year.”

The recent promotion came as part of an Apple corporate reshuffle — with Jeff Williams named Apple’s new Chief Operating Officer (and possible Tim Cook CEO successor), Phil Schiller expanding his role as Senior VP of Worldwide Marketing to include running the App Store across all platforms, and advertising executive Tor Myhren joining the company as VP of Marketing Communication.

Source: SEC

Via: Apple Insider

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