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Eddy Cue Receives Another 100,000 Shares of Apple Stock

As revealed in a new filing with the U.S. Securities and Exchange Commission, Apple has awarded Eddy Cue an additional 100,000 shares of company stock in the form of restricted stock units. The stock units were issued on November 2nd and will vest in September 2014 (25,000 shares) and September 2016 (75,000 shares) if Cue remains employed by Apple at those milestone dates.

At Apple's present stock price, the stock would be worth $40 million, although the final value will be determined as of the dates that the different portions vest.

This is the second such grant Cue has received since being promoted to senior vice president for Internet software and services two months ago. The first batch of 100,000 restricted stock units was awarded on September 2nd following his promotion, and those units will vest in two equal portions in August 2013 and August 2015. Cue also holds a number of other restricted stock units that he had been awarded prior to his promotion.

Cue has been at Apple for 22 years, and played an integral role overseeing the iTunes Store and App Store. His role has significantly expanded over the past year or so, adding oversight of Apple's iCloud service and iBookstore. Just this past August, Cue also took over leadership of the iAd program following the departure of Andy Miller.

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37 months ago

give it a pass because it's Apple


Why not just put that in your signature? It would save you a lot of typing.
Rating: 5 Votes
37 months ago
Nice. Good to see Apple making sure key people stick around. My AAPL stock is very thankful.

This is a guy an Apple fan should be concerned about losing, not some security hack who has no bearing on the products Apple produces.
Rating: 4 Votes
37 months ago



Apple pays management well while a minimum wage to the store staff & the manufacturers, it appears...


In this case, it's the 1% that make the insanely great products...so pay the man!
Rating: 4 Votes
37 months ago

Well this link has more details. In fact, other executives are getting 60 million dollar bonuses as well:

http://news.cnet.com/8301-27076_3-57318938-248/apple-gives-most-of-its-top-execs-$60m-bonuses/?tag=TOCmoreStories.0 (http://news.cnet.com/8301-27076_3-57318938-248/apple-gives-most-of-its-top-execs-$60m-bonuses/?tag=TOCmoreStories.0)

I'm not saying these guys don't provide a great deal of value to Apple--they do and deserve to be rewarded. I have a problem with obscene amounts of money being paid to *individuals*. 60 million? That's the yearly operating budget of many struggling public universities. We distribute our resources foolishly and we will pay the price someday.


There's another way to look at this... and it's potentially an indication that Tim Cook feels his senior execs are currently at risk of leaving, following Jobs' death.

These aren't bonuses for work done - they're 'golden handcuffs' to stop them from leaving for 2 years (they all seem to vest in mid 2013).

For a bunch of rich guys who were highly motivated by Jobs presence, I would have expected a few to leave pretty quickly. Apple is great 'n' all, but if you take away Jobs' charisma, it's just a job - and there are plenty of other exciting challenges in the valley.

Depending on how you see things, this is good news, because it buys stability for the company for the next two years - or it's bad news, because it's an indication of Tim Cook's weakness as a leader and motivator that he feels this is necessary.


Edit: In my personal experience, working in companies that have a 'bonus culture' - bonus is rarely about a job well done, it's more judging a person's greed/sense of self-worth and the risk of them leaving if they feel undervalued.
Rating: 4 Votes
37 months ago
I would have hoped that somebody getting his 2nd $40M windfall in
Rating: 3 Votes
37 months ago

No one is worth that much money. I believe in people getting compensated based upon what they've accomplished --but those amounts going to individuals is completely irrational.


It's not irrational. He makes Apple more money than that, so it's perfectly rational. You might disagree with it out of principle, but it not irrational.
Rating: 3 Votes
37 months ago

Apple pays management well while a minimum wage to the store staff & the manufacturers, it appears...


How much education and brainpower does it take to scan my credit card when I walk in to buy an iPod?
Rating: 3 Votes
37 months ago

It's NOT ok to pay a $60 million dollar bonus to a baseball player either in my opinion--but that is not the topic at hand. In my perspective, a talented baseball player is no more talented than a skilled teacher.


Or a talented sandwich artist?

I'm sorry, while I agree that may be ALOT of money, I do feel they deserve it. They earned it. They have billions and billions of dollars and chose to distribute a very small percentage of that profit to some of the people that created it.

Is it wrong for a farmer to keep a couple ears of corn to themselves after harvesting the entire field?
Rating: 2 Votes
37 months ago


I'm not saying these guys don't provide a great deal of value to Apple--they do and deserve to be rewarded. I have a problem with obscene amounts of money being paid to *individuals*. 60 million? That's the yearly operating budget of many struggling public universities. We distribute our resources foolishly and we will pay the price someday.


But it's okay to pay guys that much to play sports, act in movies, or make music? Hard work deserves success, why is that bad?
Rating: 2 Votes
37 months ago

He's been with apple for 22 years, in that time he's worked for a number of different CEOs and went through some of apples hardest and most successful times.

I can't imagine him leaving anytime soon!


Well this link has more details. In fact, other executives are getting 60 million dollar bonuses as well:

http://news.cnet.com/8301-27076_3-57318938-248/apple-gives-most-of-its-top-execs-$60m-bonuses/?tag=TOCmoreStories.0 (http://news.cnet.com/8301-27076_3-57318938-248/apple-gives-most-of-its-top-execs-$60m-bonuses/?tag=TOCmoreStories.0)

I'm not saying these guys don't provide a great deal of value to Apple--they do and deserve to be rewarded. I have a problem with obscene amounts of money being paid to *individuals*. 60 million? That's the yearly operating budget of many struggling public universities. We distribute our resources foolishly and we will pay the price someday.
Rating: 2 Votes

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