Apple's New Hardware Chief Johny Srouji Awarded Nearly $10 Million in Stock

johny_srouji_appleApple's newly promoted Senior Vice President of Hardware Technologies Johny Srouji was awarded 90,270 restricted stock units on October 5, 2015, according to a recent filing with the U.S. Securities and Exchange Commission. The RSUs awarded vest 12.5% in semi-annual installments over a four year period ending October 2019.

Srouji now has a total of 217,305 RSUs and 101,881 common stock units, which together amount to just over $34 million at AAPL's current trading price of around $107 per share. The latest batch of 90,270 RSUs are currently valued at approximately $9.6 million.

Apple often rewards high-level executives with RSUs based on their performance. In August, for example, Apple CEO Tim Cook and Senior Vice President of Internet Software and Services Eddy Cue received 560,000 and 350,000 RSUs respectively worth over $97 million combined. Apple retail chief Angela Ahrendts also received 113,334 RSUs as a signing bonus upon joining Apple in May 2014.

Srouji was promoted to Senior Vice President of Hardware Technologies on December 17, as part of a larger executive team makeover that saw Jeff Williams promoted to COO and marketing chief Phil Schiller take over App Store leadership across all Apple platforms. Tor Myhren, chief creative officer at ad agency Grey, will also join Apple in early 2016 as Vice President of Marketing Communications.

Srouji joined Apple in 2008 to lead development of the A4 chip for iPhone 4, and he now oversees silicon and hardware technologies, including batteries, application processors, storage controllers, sensors silicon, display silicon and other chipsets across Apple's entire product line. Prior to Apple, he held senior positions at Intel and IBM in the areas of processor development and design.



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26 weeks ago

I know how I would spend it if I had $5M or so (I'd own a nice house... Maybe get a vacation house... Get two Teslas... And retire to do whatever projects I want for the rest of my life) but I have no idea what you'd even do with money after that.

At some point you could get a yacht or a plane or something... But I don't really see the point. Seems that premium seats would get you most of the same niceties at a far lower price.

Psssh. Where's your imagination. I'd get hookers and blow... and a statue of a hooker made out of blow. I'd buy a Capuchin monkey and hire a guy to do nothing but let the monkey hit him with pies... pies made of blow. I'd hire a big ass group of civil war reenactors and force them to reenact the Peloponnesian war in full Civil War dress. I'd buy the monkey an Apple Watch. I would not buy the monkey an iPhone though. Cuz, I mean seriously, monkeys don't need a phone. Besides, he'd only accrue excessive data charges with Wifi Assist.

/takes meds

/falls asleep
Rating: 9 Votes
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26 weeks ago
Apple A series processor is years ahead of the rest of the industry. He definitely deserves the rewards.
Rating: 5 Votes
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26 weeks ago

You'd be broke before you know it maintaining that large house and two 100k cars.


Plus... nobody would give someone $5 million, if they were the kind of person that would then immediately retire.
I think that kind of money is reserved for people passionate about their careers, who would work hard, achieve much, and leave a legacy.
Rating: 5 Votes
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26 weeks ago

I know how I would spend it if I had $5M or so (I'd own a nice house... Maybe get a vacation house... Get two Teslas... And retire to do whatever projects I want for the rest of my life) but I have no idea what you'd even do with money after that.

At some point you could get a yacht or a plane or something... But I don't really see the point. Seems that premium seats would get you most of the same niceties at a far lower price.


You'd be broke before you know it maintaining that large house and two 100k cars.
Rating: 4 Votes
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26 weeks ago

If I were the majority shareholder at Apple:

1.Tim Cook would be unemployed.

Why?

Apple Watch = Fail
Apple Maps = Fail
Siri = Fail
Apple Pay = Way too slow of an adoption rate, and the greed before widespread adoption comes first, so fail.

16 GB base for iPhone with $199 on contract = fail.
Shrinking stock price = Fail.
Apple Music = Fail.

The company's last keynote presentation would also have me worried that the company is starting to decline a bit.

2. There would be more Apple Stores

There's a grand total of one Apple Store in upstate NY, ONE.

I'm sure other areas have the same problem, where customers have to drive 2 hours just to go to the nearest Apple Store.


I know stockholders don't have the power to make every decision for the company, but they do have the power to overthrow the CEO.


Leftover Christmas brandied eggnog or pre-New Years champaign? Either way, your drunk.:p
Rating: 3 Votes
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26 weeks ago

Maintanace cost on a Telsa non existent ? Your kidding right? Maintenance of car = servicing , not repairs.


He's right. Servicing an electric car is almost nothing. In fact it is nothing for long periods. I have an electric car (not a Tesla) and the maintenance is identically zero so far (2 years 20,000 miles). It doesn't take oil ever. The only thing it will need is tires eventually. Oh and washer fluid.

On the other hand I have a Mercedes and after 18 months and 4500 miles it has already had two services scheduled and paid for.
Rating: 2 Votes
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26 weeks ago
If I were the majority shareholder at Apple:

1.Tim Cook would be unemployed.

Why?

Apple Watch = Fail
Apple Maps = Fail
Siri = Fail
Apple Pay = Way too slow of an adoption rate, and the greed before widespread adoption comes first, so fail.

16 GB base for iPhone with $199 on contract = fail.
Shrinking stock price = Fail.
Apple Music = Fail.

The company's last keynote presentation would also have me worried that the company is starting to decline a bit.

2. There would be more Apple Stores

There's a grand total of one Apple Store in upstate NY, ONE.

I'm sure other areas have the same problem, where customers have to drive 2 hours just to go to the nearest Apple Store.


I know stockholders don't have the power to make every decision for the company, but they do have the power to overthrow the CEO.
Rating: 2 Votes
Avatar
26 weeks ago

If I were the majority shareholder at Apple:

1.Tim Cook would be unemployed.

Why?

Apple Watch = Fail
Apple Maps = Fail
Siri = Fail
Apple Pay = Way too slow of an adoption rate, and the greed before widespread adoption comes first, so fail.

16 GB base for iPhone with $199 on contract = fail.
Shrinking stock price = Fail.
Apple Music = Fail.

The company's last keynote presentation would also have me worried that the company is starting to decline a bit.

2. There would be more Apple Stores

There's a grand total of one Apple Store in upstate NY, ONE.

I'm sure other areas have the same problem, where customers have to drive 2 hours just to go to the nearest Apple Store.


I know stockholders don't have the power to make every decision for the company, but they do have the power to overthrow the CEO.


"If I were king of the forrrrrest...."

One thing I would not do is base my decisions solely on my personal likes and dislikes, personal convenience or inconvenience (having a nearby Apple Retail Store???). Arguably, in business, the only "win" or "fail" is financial results. It's not whether the Apple Watch is a perfect product, or that it hasn't sold as many units as I imagine it should, or whether I personally would own one - success is predicated on whether the product is profitable, whether it met or exceeded sales targets (did they make too many, or not enough?), whether customers are satisfied with their purchase (and so will buy more of the company's products), etc.

In an imperfect world, success or failure cannot be judged on the basis of imagined perfection. It doesn't exist, so what one imagines as perfection is besides the point. All one can do is strive. One could pick and choose all the great features of all the competing products, wrap them up in a package and imagine the greatest product in the world... but it doesn't exist. Each feature comes at a cost, and cost-is-no-object is not reasonable. In the end, utility, not perfection, is what matters. Is it good enough to do the job in a satisfying manner, or do users seek better elsewhere? Do benefits outweigh shortcomings?

One also has to question whether "winner takes all" ("best" product based on reviews, etc.) is ever reasonable. First Place doesn't necessarily make Second Place a failure, other than that it failed to take First Place.

Are Maps, Siri, and Apple Pay a success? How do you measure that? It's deeply integrated into the iOS and OS X environment (if a built-in app needs a map, it's going to be Maps). Users don't have a choice in that, which means that Maps has to be so bad/good as to alienate/enamor Apple customers (drive/pull them to/from the competition) in significant numbers, before it can be judged a success or failure in and of itself. While we have statistics on Maps' utilization (high rates of usage on iOS devices), since it's a "captive" product, that number tells us little about consumer preference. I don't think there's publicly-available hard data there that suggests the quality of Maps is either hurting or helping Apple (internet gripes are not exactly hard data). Apple's overall customer satisfaction numbers have not changed much one way or the other since Maps, Siri, or Apple Pay were introduced, but considering how high satisfaction numbers are to begin with, it's pretty hard to make a dent on the upside ("improved satisfaction by 10%" means less than a single percentage point move in the satisfaction ratings).

Maps, Siri, Apple Pay... these aren't even monetizable products. They're features intended to improve the overall appeal of other products. Apple undoubtedly has plenty of internal metrics on feature-by-feature utilization and customer satisfaction, but external numbers are harder to come by. If, as a major shareholder, I could get information to which the rest of the shareholding public is not privy... I and the company would be in violation of insider trading laws. In the absence of information... the phrase, "arbitrary and capricious" comes to mind.

So let's bring it back to financial results. Tim Cook has presided over historically great financial results. On numbers alone, there are few in history who match that performance. Hundreds of billions in profits? Hundreds of billions in excess cash? Increased dividends, huge share buy-backs "returning value to shareholders?"

Would you fire that person because you can imagine even better than historic results? Not likely. You might fire a person for malfeasance, or insubordination.

There may be tens of millions of people on this planet with the intelligence and skills to lead Apple, given the opportunities necessary to reach that particular place. I certainly won't say that Tim Cook is the one person who ought to be leading Apple. He has the job, and the company has been doing very, very well during his tenure. If I was that hypothetical, large shareholder, I'd be asking him, "What do you need in order to do an even better job?"
Rating: 2 Votes
Avatar
26 weeks ago

And this is exactly why you will never be Apple's CEO, or any company's CEO for that matter.


I would rather not work for directly a bunch of shareholders, but thank you.

Personally, I prefer family businesses instead, such as Wegmans. Wegmans treats their employees well, stays up to date on technology, and also treats their customers well.

When you shop for the shareholder's profits, they don't care about you, the customer--but just screwing you out of your money with nothing in return. When you shop for a family's business, you get great customer service and appreciation.

This is why people prefer to use a credit union over a bank-- a bank works for shareholders, and does everything possible to maximize profits. They'll rip you apart with ridiculous fees and the customer service will be mediocre at best (unless you're lucky). The credit union works for you, and not shareholders (who are actually the members of the credit union, so they work for the members).

I wish more companies would be non-for-profit or family owned.
Rating: 2 Votes
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26 weeks ago

When I was in high school, every other student had an iPod. I haven't met one person with an Apple Watch.

I haven't seen one person that's heard of Apple Pay or even used it in over a year.


Success and failure judged on whether you know someone with an Apple Watch or have seen someone use Apple Pay?!

I've seen people use Apple Pay on an Apple Watch. Does that mean Apple isn't failing anymore?!

;)

I also have two Apple Stores within 10 mile of where I live...

This company is on a roll!
Rating: 1 Votes
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