Apple'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.
Top Rated Comments
I think that kind of money is reserved for people passionate about their careers, who would work hard, achieve much, and leave a legacy.
1.Tim Cook would be unemployed.
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.