Apple Music Chief Eddy Cue Receives $60 Million Stock Award

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.

1.jpg
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.

Tags: Eddy Cue, RSUs


Top Rated Comments

(View all)
Avatar
34 months ago
Eddy is smug and has ruined a lot of projects that he's touched. Not worth 60 mill. Cut him and bring someone else in.
Rating: 36 Votes
Avatar
34 months ago
Proof that enough luck can overcome extreme lack of talent!
Rating: 31 Votes
Avatar
34 months ago
Wrecked the app, deleted all of my music = $60,000,000.00.
Rating: 21 Votes
Avatar
34 months ago
Rumors suggest Eddy plans to buy 240 Ferraris.
Rating: 18 Votes
Avatar
34 months ago
Cue appears to be the beneficiary through loyalty rather than competence.
Rating: 17 Votes
Avatar
34 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]
Rating: 15 Votes
Avatar
34 months ago
Literally did not understand a single word i just read lol
Rating: 13 Votes
Avatar
34 months ago
Promoted by Tim Cook.

Apple Music = flawed and lagging behind
Siri = still buggy 5 years later
Maps = let's not go there
Apple Pay = good
iCloud = flawed and lagging behind

Receive $60 million
Rating: 12 Votes
Avatar
34 months ago
Congrats to him. He seems just like the type to say: "I'll give you $1 million to sleep with your wife for one night"
Rating: 11 Votes
Avatar
34 months ago
And people wonder why Apple products are so expensive. It's for reasons like this.
Rating: 10 Votes
[ Read All Comments ]