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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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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