Apple senior vice president Eddy Cue, who oversees services like the iTunes Store, Apple Music, Apple Pay, Siri, iCloud, and Apple Maps, received nearly $60 million in company stock earlier this week, as scheduled, according to Securities and Exchange Commission documents filed electronically today.
Specifically, 525,000 of Cue's restricted stock units converted into common shares on September 21, worth $59.6 million based on AAPL's closing price of $113.55 on Wednesday. The shares represented the final 75% of 700,000 restricted stock units awarded to Cue in November 2011. The first 25% vested on September 21, 2014.
Cue was originally awarded 100,000 RSUs, but the compensation package became 700,000 RSUs when AAPL split 7-for-1 in June 2014.
256,305 shares were withheld by Apple to satisfy the minimum statutory tax withholding requirements on vesting of RSUs. Cue gifted the remaining 268,695 shares that vested, worth approximately $20.2 million, to a family trust as he did when 350,000 of his RSUs, worth $36.1 million at the time, vested in August 2015.
Cue joined Apple in 1989 and was promoted to Senior Vice President of Internet Software and Services by Apple CEO Tim Cook in September 2011.
Specifically, 525,000 of Cue's restricted stock units converted into common shares on September 21, worth $59.6 million based on AAPL's closing price of $113.55 on Wednesday. The shares represented the final 75% of 700,000 restricted stock units awarded to Cue in November 2011. The first 25% vested on September 21, 2014.
Cue was originally awarded 100,000 RSUs, but the compensation package became 700,000 RSUs when AAPL split 7-for-1 in June 2014.
256,305 shares were withheld by Apple to satisfy the minimum statutory tax withholding requirements on vesting of RSUs. Cue gifted the remaining 268,695 shares that vested, worth approximately $20.2 million, to a family trust as he did when 350,000 of his RSUs, worth $36.1 million at the time, vested in August 2015.
Cue joined Apple in 1989 and was promoted to Senior Vice President of Internet Software and Services by Apple CEO Tim Cook in September 2011.
109 comments
Top Rated Comments
(View all)
32 months ago
No one compares to Eddy. No one.
[doublepost=1474675690][/doublepost]
Literally did not understand a single word i just read lol
Reminded me of this:[MEDIA=youtube]RXJKdh1KZ0w[/MEDIA]
Apple's VP of Health Dr. Sumbul Desai recently sat down for an interview with MobiHealthNews where she discussed Apple's health products, the company's relationship with the FDA, the...
Apple maintains a photography tutorial section on its website for those interested in stepping up their iPhone photography, and it's regularly updated with new videos. Apple also uploads its...
It's no secret that Facebook is harvesting incredible amounts of data on all of its users (and some that don't even use the service), but what may come as a surprise is just how detailed and...
Apple plans to close both of its retail stores within the Eastern District of Texas in a few months from now in an effort to protect itself from patent trolls, according to five sources familiar with...
Apple chipmaker TSMC will miniaturize its fabrication process to 5 nanometers in a bid to secure orders for Apple's processors in its 2020 iPhones, according to industry sources cited in a...
Adobe has released an update for Adobe Premiere Pro via the Creative Cloud app to resolve an audio issue that left some users with blown-out MacBook Pro speakers.
Earlier this month, we...
Apple CEO Tim Cook is set to deliver Stanford's 2019 commencement speech on Sunday, June 16, the university announced today.
Stanford chose Cook because he has been a "prominent voice on...
You may or may not know this, but there's a feature in Safari that's designed to let you select a portion of text and send it to a friend over Messages using the Share feature in Safari.
...
