Apple Executives Receive Restricted Stock Units Worth Millions

by

Several Apple executives were today awarded 128,584 restricted stock units or RSUs worth upwards of $20 million at Apple's current price. The RSUs are set to vest after a set period of time and serve as bonus compensation to encourage employees to stay with the company.

Johny Srouji, Phil Schiller, Dan Riccio, Luca Maestri, Craig Federighi, Eddy Cue, and Angela Ahrendts all received 128,584 restricted stock units this month. 64,885 RSUs were awarded on 10/1, while an additional 63,699 were awarded on 10/15.

For the first batch, the vesting of the restricted stock units depends on Apple's total shareholder return starting on the first day of fiscal 2018 and ending on the last day of fiscal 2020. Up to 200 percent of the shares can vest should Apple's performance in the S&P 500 be in the 85th percentile or higher relative to other companies.

If Apple's performance falls below that, a smaller percentage of shares will vest, but should the company hit its target, each executive could receive 129,770 shares worth over $20 million at today's prices. Apple did not hit that target with its last performance based stock award.

The second batch of RSUs will vest over time and each executive will see the full award of 63,699 shares should they stay with the company. One-third of the shares will vest on April 1, 2020, another third on April 1, 2021, and the final third on April 1, 2022. Chris Kondo, Apple Senior Director of Corporate Accounting, also received a smaller award of 12,740 shares that will vest starting in 2018.

At a maximum, each executive could earn up to 193,469 shares by 2022, worth more than $30 million today.

Tag: Stock

Top Rated Comments

(View all)
Avatar
37 months ago
Overpayed management and a bean counter at the helm. Lord help us......

Phill schiller is the one I abhor the most.
Score: 3 Votes (Like | Disagree)
Avatar
37 months ago

they didn't source the module because it didn't exist. kinect was this giant device that sit in front of your TV. Apple invented the mobile version after they bought primasense.
so no they didn't "source" it.

also the software for face id didn't exist. who do you think engineered the software for secure facial recognition.

You've assumed a lot. Most of it's wrong. Hardly any of it is sourced. Beyond the fact that Apple acquired Primesense, and early Primesense tech was used in the original Kinect... yeah, nothing else you've assumed is correct. Cursory internet info would tell you that.
Score: 2 Votes (Like | Disagree)
Avatar
37 months ago

incorrect
they bought primasense (the people that made kinect) and engineered the mobile version of it. one that doesn't take up too much space or power.

Ok yu proved my point, primasense desgined it.
Score: 2 Votes (Like | Disagree)
Avatar
37 months ago

Dan Riccio? How so?

shrinking an xbox kinect into a portable device for the face id feature ain't easy.
Score: 1 Votes (Like | Disagree)
Avatar
37 months ago

I'm still inclined to believe the company they purchase the part from had a slightly larger hand in making it but hey, that's just my opinion.

it's not like primasense already made the mobile module and then Apple purchased it -> slapped it on the iPhone without any additional engineering.

and this isn't the ONLY reason why Dan Riccio deserved the shares. he still needs to worry about the iPad and Macs
Score: 1 Votes (Like | Disagree)
Avatar
37 months ago

Nothing for Ive and cook?

Ive's promotion to Chief Design Officer a few years back - meaning he is no longer a SVP - was partially so they could stop disclosing his remuneration.

And you can bet that's because he's by a long, long way Apple's highest paid employee.
Score: 1 Votes (Like | Disagree)

Top Stories

Supposed iPhone 12 Display Unit Leaks

Thursday August 6, 2020 8:13 am PDT by
An image supposedly of an iPhone 12 display unit has been shared online by leaker "Twitter user Mr. White". Compared to images of an iPhone 11 Pro display piece, this new unit has a reoriented display connector, reaching up from the bottom of the display, rather than from the left-hand side on iPhone 11 Pro. This may be due to the logic board moving to the other side of the device. A...

8 Third-Party Home Screen Widgets That You Can Try Out Now on iOS 14

Wednesday August 5, 2020 12:56 pm PDT by
One of the biggest new features of iOS 14 is Home Screen widgets, which provide information from apps at a glance. The widgets can be pinned to the Home Screen in various spots and sizes, allowing for many different layouts. When the iOS 14 beta was first released in June, widgets were limited to Apple's own apps like Calendar and Weather, but several third-party developers have begun to test ...

Apple Seeds iOS 14 and iPadOS 14 Public Beta 4 to Testers

Thursday August 6, 2020 10:05 am PDT by
Apple today seeded new public betas of upcoming iOS 14 and iPadOS 14 updates to its public beta testing group. Today's software releases, which Apple labels as fourth betas to keep them in line with developer betas, are actually the third betas that Apple has provided and they come two weeks after the prior beta releases. Public beta testers who have signed up for Apple's beta testing...

Apple Takes Legal Action Against Small Company With Pear Logo

Saturday August 8, 2020 11:09 am PDT by
Apple is taking legal action against the developers of the app "Prepear" due to its logo, according to iPhone in Canada. Prepear is an app that helps users discover recipes, plan meals, make lists, and arrange grocery deliveries. The app is a spinoff of "Super Healthy Kids," and the founders claim that they are facing litigation from Apple. Apple reportedly takes issue with Prepear's logo, ...

Google's $349 Pixel 4a vs. Apple's $399 iPhone SE

Wednesday August 5, 2020 1:45 pm PDT by
Google this week launched its newest smartphone, the $349 Pixel 4a, a low-cost device that's designed to compete with other affordable devices like Apple's iPhone SE. We picked up one of the new Pixel 4a smartphones and thought we'd check it out to see how it measures up to the iPhone SE, given that the two devices have such similar price points. Subscribe to the MacRumors YouTube channel ...

2020 iMac Benchmarks Surface Online [Updated]

Thursday August 6, 2020 7:16 am PDT by
Benchmarks from the new 2020 iMac have today been shared online by Mac Otakara. The Geekbench benchmarks are from the newly-released 27-inch iMac with 3.0GHz Intel Core i5 processor and Radeon Pro 5300 graphics, compared to multiple specs of the previous 2019 iMac. The lowest spec 27-inch i5 iMac from 2020 performs about 20 percent better in multicore than the lowest spec 27-inch i5...

New 27-Inch iMac's Storage Affixed to Logic Board, 4TB and 8TB Configurations Have Expansion Connector

Friday August 7, 2020 7:46 am PDT by
Following a report from German blog iFun.de that claimed the new 27-inch iMac's flash storage is soldered to the logic board, MacRumors has obtained additional information in an internal document for Apple technicians. In the document, Apple says that the flash storage is indeed affixed to the logic board and cannot be removed. However, for the 4TB and 8TB configurations, Apple says that a...

Microsoft's xCloud and Xbox Game Pass Not Coming to iOS Due to Apple's Restrictions [Updated]

Thursday August 6, 2020 1:06 pm PDT by
Microsoft's "Project xCloud" streaming game service that pairs with its Xbox Game Pass won't be available on iPhone and iPad when it launches this September, and Apple's App Store restrictions are to blame. Xbox Game Pass and its accompanying xCloud streaming feature offer access to hundreds of games that can be streamed to mobile devices, and Apple says that because it can't review each...

Apple Announces New 27-Inch iMac With 10th-Gen Processors, Up to 128GB RAM, 1080p Webcam, True Tone, and More

Tuesday August 4, 2020 8:07 am PDT by
Apple today announced a new 27-inch iMac with faster 10th-generation Intel Core processor options, next-generation AMD graphics, up to 128GB of RAM, a higher-resolution 1080p front-facing FaceTime camera, a True Tone display with a nano-texture glass option, a T2 chip, higher fidelity speakers, studio-quality microphones, and more. A breakdown of the new 27-inch iMac's features and specs:10th...

Samsung Launches Galaxy Note 20, Galaxy Z Fold 2, and Galaxy Buds to Compete With Apple's iPhones and AirPods Pro

Wednesday August 5, 2020 10:07 am PDT by
Samsung today held a virtual Galaxy Unpacked event where it unveiled its next-generation smartphones that will compete with Apple's 2020 iPhone lineup, set to come out in the fall. Samsung announced the launch of the Galaxy Note 20 and the Galaxy Note 20 Ultra, the two newest devices in the Note lineup, and, more notably, the Galaxy Z Fold 2, Samsung's latest foldable smartphone. The...