Apple Executives Receive Restricted Stock Units Worth Millions

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Apple LogoSeveral 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

blackberrycubed Avatar
43 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)
69Mustang Avatar
43 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)
timborama Avatar
43 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)
farewelwilliams Avatar
43 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)
farewelwilliams Avatar
43 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)
Brookzy Avatar
43 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)

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