October 11, 2024
Apple Gives Huge $60 Million Bonuses to Top Executives

Apple Gives Huge $60 Million Bonuses to Top Executives

Posted November 4, 2011 at 11:56pm by iClarified
French
Apple is handing out huge bonuses to its top executives that hinge on their staying with the company until 2016, reports CNET.

The company on Wednesday doled out 150,000 shares each to most of its senior vice presidents, short of recently-minted SVP Eddy Cue, who received a slightly smaller 100,000-share bonus, and design guru Jonathan Ive, who is an SVP, but does not fall under the SEC's section for directors, officers, and principal stockholders.

150,000 shares works out to about $60 million at today's stock price. 100,000 shares is about $40 million. In most cases 50% of the shares vest on June 21, 2013 and 100% are vested by March 21, 2016.


Breakdown of Bonuses By Executive:
Bruce Sewell -- 150,000 shares, 50 percent vest on June 21, 2013, 100 percent on March 21, 2016
Jeffrey Williams -- 150,000 shares, 50 percent on June 21, 2013, 100 percent on March 21, 2016
Philip Schiller -- 150,000 shares, 50 percent on June 21, 2013, 100 percent on March 21, 2016
Peter Oppenheimer --150,000 shares, 50 percent on June 21, 2013, 100 percent on March 21, 2016
Robert Mansfield -- 150,000 shares, 50 percent on June 21, 2013, 100 percent on March 21, 2016
Scott Forstall -- 150,000 shares, 50 percent on June 21, 2013, 100 percent on March 21, 2016
Eddy Cue -- 100,000 shares, 25 percent vest September 21, 2014, 100 percent September 21, 2016.

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Apple Gives Huge $60 Million Bonuses to Top Executives
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Comments (6)
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koko
koko - November 5, 2011 at 4:18pm
donate some to SeaShepherd(Whale Wars). they need it.
Noman
Noman - November 5, 2011 at 7:35am
More signs of weakness.. changes to worse.
Bill
Bill - November 5, 2011 at 6:46am
John iVe is not smiling. He also deserverd the bonus!! :/
Titimotitimoti
Titimotitimoti - November 5, 2011 at 1:08am
WOW! Thats a lot of money! I wonder who is the next to get pancreatic cancer?
ca2acc0
ca2acc0 - November 5, 2011 at 1:23am
your mama!!
Hecklr
Hecklr - November 5, 2011 at 1:47am
HEY MAN! I THINK YOU'RE GETTING OFF TRACK OF THE TOPIC ON HAND!!!!!!
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