Apple's Beats brand in April unveiled the Powerbeats Pro, a redesigned wire-free version of its popular fitness-oriented Powerbeats earbuds.
Apple Executives Dominate Highest-Paid List Among S&P 500 Companies
Bloomberg Businesweek reports that a survey of executive compensation at Standard & Poor's 500 companies for fiscal 2012 shows four Apple executives holding down the second, third, fourth, and fifth slots behind Oracle CEO Larry Ellison. The group of Apple executives, which does not include CEO Tim Cook, benefited from a massive stock grant shortly after the death of Steve Jobs, with the grants vesting in equal parts in 2013 and 2016 as incentives to keep the executives at the company.
Two other Apple executives saw major stock grants in November 2011, with marketing chief Phil Schiller receiving the same 150,000 restricted stock units as the other senior executives and Internet Software and Service head Eddy Cue receiving 100,000 units just two months after receiving another 100,000 units in recognition of his promotion to the senior vice president level. Schiller and Cue were not, however, included in Bloomberg Businessweek's rankings, as their total compensation is not publicly reported by Apple.
Cook ranked 1016th on this year's list with total compensation of $4.17 million, although he is benefiting from a previous award of one million restricted stock units made when he became CEO. Those units are worth $425 million at today's stock price, with half of the units vesting in 2016 and the remaining half vesting in 2021.
Four of the five highest-paid employees at Standard & Poor’s 500 companies aren’t chief executive officers. They’re Apple Inc. senior lieutenants receiving compensation packages designed to keep management intact in an increasingly competitive industry.The four Apple executives each received 150,000 shares as part of their grants, with the shares worth approximately $64 million each at today's stock price. Salary, bonuses, and other compensation pushed 2012 totals for Sewell, Williams, and Oppenheimer close to $70 million. Mansfield topped the group of Apple executives with total compensation of $85.5 million, as he received accelerated vesting of shares as an incentive to remain at Apple after he had announced his retirement.
The four executives are Bob Mansfield, Bruce Sewell, Jeffrey Williams and Peter Oppenheimer, according to fiscal 2012 compensation figures for top earners filed with the U.S. Securities and Exchange Commission. About 80 percent of S&P 500 companies had submitted their numbers as of April 12.
Two other Apple executives saw major stock grants in November 2011, with marketing chief Phil Schiller receiving the same 150,000 restricted stock units as the other senior executives and Internet Software and Service head Eddy Cue receiving 100,000 units just two months after receiving another 100,000 units in recognition of his promotion to the senior vice president level. Schiller and Cue were not, however, included in Bloomberg Businessweek's rankings, as their total compensation is not publicly reported by Apple.
Cook ranked 1016th on this year's list with total compensation of $4.17 million, although he is benefiting from a previous award of one million restricted stock units made when he became CEO. Those units are worth $425 million at today's stock price, with half of the units vesting in 2016 and the remaining half vesting in 2021.
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81 months ago
In b4 all of the liberal hippies who will come and say "no one deserves to make that much money!"
Ugh. I personally don't care what they make, but middle class compensation in the form of real wages has pretty much flatlined since the late 70s, even as productivity has skyrocketed. Trotting out the old "that's hippy talk" sort of undermines the legitimate discussion of why that's happened before it even starts.
81 months ago
In b4 all of the liberal hippies who will come and say "no one deserves to make that much money!"
81 months ago
In b4 all of the liberal hippies who will come and say "no one deserves to make that much money!"
Liberal hippies?
Seems odd that you would think liberals or hippies don't like money.
81 months ago
If they were execs in a bank or oil company there would be protest, but Apple, I guess that's okay :rolleyes:
81 months ago
Going by how much they make and what has come out of Cupertino this year so far I'd say there's one guy missing.
81 months ago
In b4 all of the liberal hippies who will come and say "no one deserves to make that much money!"
I'm glad you agree that no one deserves to make that much money.
The inflated "value" of executives is utter nonsense.
81 months ago
Does anyone else here think that Apple seems to have lost their innovative shine?
I mean, during the early 2000s it seems they came out with new computer designs each year: the flower iMac, the Cube, PowerBook Titanium etc... Hell, they've been shipping the same external case for the PowerMac G5/Mac Pro since 2003!!!
I know that true innovation is difficult but Apple seems to only iterate these days with minor changes and not much innovation. Just smacks me of profiteering. It's like they don't care as much as they used to.
I mean, during the early 2000s it seems they came out with new computer designs each year: the flower iMac, the Cube, PowerBook Titanium etc... Hell, they've been shipping the same external case for the PowerMac G5/Mac Pro since 2003!!!
I know that true innovation is difficult but Apple seems to only iterate these days with minor changes and not much innovation. Just smacks me of profiteering. It's like they don't care as much as they used to.
81 months ago
That money has to go somewhere, why not the people who helped make the company so successful?
You mean the rank and file employees?
81 months ago
To avoid a socio-political debate, I will state I am not a member of any political party and base each and every decision on the merits of the issue, not on towing a "liberal" or "conservative" party as that has proven to divide, not unite, a nation. I am fiscally conservative and [very] socially liberal.
However, that amount of money is sickening. My father was a successful Bear Stearns investment banker for many years, I've seen sick amounts of money being traded akin to Monopoly money. Derivatives, betting against defaults, millions trading hands in a matter of minutes. Capitalism or Communism, they have much in common than most realize. The "free market" is a ponzi scheme; those who have money, make money, and those who don't have a small chance at success. Taking money from one group, investing it in an [theoretically] unstable system as the stock exchange, those individuals taking money from another, and so on and so on. Taking the system as a whole, it's rather shoddy ideology wrapped up in a guise of "freedom".
That being stated, didn't Mansfield "leave" or cash in large amounts of stock options for millions, only to "return" just in time to acquire millions of dollars in more stock? That's a lot of incentive for, well, very little work.
Just throwing that out there. Hope everyone had a great weekend!
However, that amount of money is sickening. My father was a successful Bear Stearns investment banker for many years, I've seen sick amounts of money being traded akin to Monopoly money. Derivatives, betting against defaults, millions trading hands in a matter of minutes. Capitalism or Communism, they have much in common than most realize. The "free market" is a ponzi scheme; those who have money, make money, and those who don't have a small chance at success. Taking money from one group, investing it in an [theoretically] unstable system as the stock exchange, those individuals taking money from another, and so on and so on. Taking the system as a whole, it's rather shoddy ideology wrapped up in a guise of "freedom".
That being stated, didn't Mansfield "leave" or cash in large amounts of stock options for millions, only to "return" just in time to acquire millions of dollars in more stock? That's a lot of incentive for, well, very little work.
Just throwing that out there. Hope everyone had a great weekend!
81 months ago
If they were execs in a bank or oil company there would be protest, but Apple, I guess that's okay :rolleyes:
You beat me to it.
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