Six Apple executives received more than 30,000 shares of stock in the form of restricted stock units or RSUs according to a series of filings with the SEC. RSUs are typically issued to employees to encourage them to stay with the company. They are awarded in a similar way to stock options, but convert directly into shares of stock upon vesting.

At current prices, the awards are worth as much as $12.1 million per executive.

Apple Executives
In this case, the shares appear to have been awarded as part of the executives' 2014 compensation package. Apple Senior Vice Presidents Eddy Cue, Craig Federighi, Dan Riccio, Phil Schiller, Bruce Sewell, and Jeffrey Williams all received equal bonus awards, with shares granted thusly:

- 22,738 RSUs with one-third of the units scheduled to vest into full shares of Apple stock on April 1 of 2016, 2017 and 2018.

- 6,626 RSUs scheduled to vest on October 1, 2015, with that number subject to adjustment based on Apple's total shareholder return.

- 6,416 RSUs scheduled to vest on October 1, 2016 with the same adjustments as the 2015 award.

In June of 2013, Apple's board adjusted the company's executive compensation package to consider shareholder return, as compared to companies in the S&P 500, as part of senior management's bonus scheme. In this case, Apple executives can see their award increased by as much as 100%, or decreased to 0, depending on the company's performance.

Apple executives typically receive bonus awards every other year, with bonuses paid out over several years as part of the company's overall executive retention package. Executives who leave the company see their unvested RSUs expire. Tim Cook did not receive any awards as his compensation package is determined independently of his senior staff.

Top Rated Comments

ScoobyMcDoo Avatar
142 months ago
and the circle jerk among the 1% continues...
Score: 12 Votes (Like | Disagree)
Razeus Avatar
142 months ago
I wonder if regular employees get anything. The rich get richer it seems.
Score: 8 Votes (Like | Disagree)
0xyMoron Avatar
142 months ago
and the rich gets richer...
Score: 6 Votes (Like | Disagree)
GenesisST Avatar
142 months ago
Actually, Ive probably got a similar award but for some inexplicable reason his compensation package does not get reported to the SEC even though his title is "Senior Vice President".

Might only apply to people with hair... :D
Score: 3 Votes (Like | Disagree)
/dev/toaster Avatar
142 months ago
Clever, how does one reward their top execs if the stock is stuck well blow its all-time high? Create more.

You do realize there is a long vesting period right ? Not to mention, they aren't creating more stock. Apple is just issuing shares that it owns to to these employees.
Score: 2 Votes (Like | Disagree)
ogee Avatar
142 months ago
I wonder if regular employees get anything. The rich get richer it seems.

No, not even a christmas bonus.
Score: 2 Votes (Like | Disagree)

Popular Stories

2024 iPhone Boxes Feature

Apple Changes Trade-In Values for iPhones, iPads, Macs, and More

Thursday January 16, 2025 6:45 am PST by
Apple today adjusted estimated trade-in values for select iPhone, iPad, Mac, and Apple Watch models in the U.S., according to its website. Some values increased, while others decreased. The changes were not too significant, with most values rising or dropping by $5 to $50. We have outlined some examples below: Device New Value Old Value iPhone 15 Pro Max Up to $630 U ...
Generic iOS 19 Feature Mock Light

iOS 19 Leak Reveals All-New Design

Friday January 17, 2025 2:42 pm PST by
iOS 19 is still around six months away from being announced, but a new leak has allegedly revealed a completely redesigned Camera app. Based on footage it obtained, YouTube channel Front Page Tech shared a video showing what the new Camera app will apparently look like, with the key change being translucent menus for camera controls. Overall, the design of these menus looks similar to...
Generic iOS 18

Everything New in iOS 18.3 Beta 3

Thursday January 16, 2025 12:39 pm PST by
Apple provided the third beta of iOS 18.3 to developers today, and while the betas have so far been light on new features, the third beta makes some major changes to Notification Summaries and also tweaks a few other features. Notification Summary Changes Apple made multiple changes to Notification Summaries in response to complaints about inaccurate summaries of news headlines. For...
iPhone 17 Slim Feature Single Camera 1 Redux

'iPhone 17 Air' Launching Later This Year With These 10 New Features

Wednesday January 15, 2025 7:16 am PST by
While the so-called "iPhone 17 Air" is not expected to launch until September, there are already plenty of rumors about the "ultra-thin" device. Overall, the "iPhone 17 Air" is shaping up to be a mixed bag. Due to its thinness, the device is expected to have some limited specifications compared to the iPhone 17 Pro models, including only a single rear camera, only a single speaker, no SIM...
iPhone 17 Pro Dual Tone Horizontal Single Feature

iPhone 17 Rumored to Feature Major Thermal Design Upgrade

Friday January 17, 2025 4:33 am PST by
The iPhone 17 lineup will feature a vapor chamber heatsink to improve thermal performance, according to a new report. The news comes from Chinese tech news site MyDrivers, which claims that the entire iPhone 17 lineup, consisting of the iPhone 17, iPhone 17 Air, iPhone 17 Pro, and iPhone 17 Pro Max, will adopt the improved thermal heat spreader. Vapor chamber technology is already used...
iPad Pro vs iPhone 17 Air Feature

Here's How Thin the iPhone 17 Air Might Be

Friday January 17, 2025 3:38 pm PST by
For the last several months, we've been hearing rumors about a redesigned version of the iPhone 17 that Apple might call the iPhone 17 "Air," or something along those lines. It's going to replace the iPhone 17 Plus as Apple's fourth iPhone option, and it will be offered alongside the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max. We know the iPhone 17 Air is going to be super slim, but...
HomePod mini and Apple TV

Apple Expected to Launch 20+ Products This Year: Here's the Full List

Friday January 17, 2025 5:30 am PST by
2025 promises to be quite a big year for Apple, with the company rumored to be planning more than 20 product announcements this year. Apple's rumored smart home hub will be its second all-new product to launch in as many years, following the Apple Vision Pro headset last year. And of course, we will get several new iPhone and Apple Watch models, like every year. Beyond that, Apple could...
2024 App Store Awards

Apple Explains Why It Removed TikTok From the App Store in the U.S.

Sunday January 19, 2025 6:58 am PST by
Apple on late Saturday removed TikTok from the App Store in the U.S., and it has now explained why it was required to take this action. Last year, the U.S. passed a law that required Chinese company ByteDance to divest its ownership of TikTok due to potential national security risks, or else the platform would be banned. That law went into effect today, and companies like Apple and Google...