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.
Alex Heath is a journalist who works for Tech Insider. He’s the former co-host of The CultCast. He has been quoted by the likes of the BBC, KRON 4 News, and books like “ICONIC: A Photographic Tribute to Apple Innovation.” He lives in Lexington, Kentucky. If you want to pitch a story, share a tip, or just get in touch, additional contact information is available on his personal site. Follow him on Twitter.
18 responses to “Apple Awards Its Top Execs With $60 Million Stock Bonuses”
“that could mean huge payouts in the years to come” — is this based on the 20-odd year history of Apple refusing to pay any dividends? Because according to evidence, established history, etc., the correct statement would be “that could mean no payouts for anyone in the foreseeable future”.
I guess they could sell their stock but that probably wouldn’t be looked on favourably, so dividends would be the only realistic hope for any real profit.
Apple SVP do sell their stocks, check out the link to Bob Mansfield.
SVPs do sell stock. It’s not frowned upon as long as multiple SVPs don’t do it at the same time (which would cause turmoil in the markets and the rumor mill to work overtime).
Jonathan Ive will be leaving very soon!
How much did the little people get ?
“Things are a changing”
Bob Dylan.
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i wonder if Ive has already told Apple he is leaving. why would someone as important as steve’s ‘spiritual partner’ not be rewarded with the same stock options or more while other execs are now effectively being bribed to stay for the next several years.
Occupy Cupertino.