Apple's New Corporate Controller Luca Maestri Receives Stock Rights Worth $15 Million
Former Xerox CFO Luca Maestri officially joined Apple as Corporate Controller in late February and a filing with the U.S. Securities and Exchange Commission published earlier today reveals that he received 38,091 restricted stock units (RSUs) in March of this year.
As with most RSUs handed out by Apple, these carry staggered vesting dates with 1/8 of the total number of units converting to actual shares every six months over a four year period.
Apple's restricted stock grants are often issued as incentives to stay with the company because the shares vest over time and require employees to remain employed through each vesting date.
At Apple's current stock price, Maestri's RSUs are worth approximately $15 million, but that total will shift depending on the stock price at the time that the shares vest.
In his role as Corporate Controller, Maestri works directly under Apple senior vice president and Chief Financial Officer Peter Oppenheimer. Before serving as CFO at Xerox, Maestri formerly worked at Nokia Siemens Networks and GM.
Popular Stories
Apple is launching five new products on Friday, November 6, following pre-orders that opened last week, including its first touchscreen MacBook Pro models.
The following new products will be available from today:
iPad mini with OLED display and A20 Pro chip
iMac with M6 chip
14-inch MacBook Pro with M6 chip
14-inch MacBook Pro with OLED touchscreen
16-inch MacBook Pro with OLED...
Apple is sending email surveys to some iPhone Duo buyers to get feedback on display size, crease, under-display camera, and other features.
The first question asks why the buyer chose the iPhone Duo now, with answers like "I wanted to try Apple's first foldable," "It was an impulse purchase," and "I expect smartphone prices to increase."
Other questions ask about the size of the iPhone...
Apple today announced that its Festival Place store in Basingstoke, England will be permanently closing on Saturday, November 21.
Apple Festival Place
Apple had already announced that the store would be closing in November, but it had not provided the public with a specific date until now.
Apple's store inside the Festival Place shopping center opened in 2011, so it had a 15-year run....
