Jeffrey Williams

An SEC filing reveals that six of Apple’s top execs were each awarded 35,000 Restricted Stock Units (shares that cannot be immediately traded), with a current value of more than $19M. Of this, $12M is awarded outright, subject only to remaining with the company until at least April 2018, with a further $7M dependent on Apple’s stock performance.

The bonuses were awarded to Senior VPs Eddy Cue, Craig Federighi, Dan Riccio, Phil Schiller, Bruce Sewell and Jeffrey Williams. It’s likely that Jony Ive will receive the same, though his stock awards do not have to be reported to the SEC … 
Expand
Expanding
Close

A few Apple execs have been departing over the past few weeks which might lead some to believe that Apple could have a talent retention problem in the wake of the recent leadership transition.

Perhaps hoping to put that kind of talk to rest, Apple just dropped fat bonus stock on their heavy hitters according to SEC filings.  With Apple’s stock riding at 400-ish per share, the below bonus shares are certainly a great incentive to stay – worth $60 million/each at today’s value.

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.

Strangely, there is no mention of Jonathan Ive who could be considered “on a different level” since Steve Jobs made him untouchable (though there have been rumors that he may want to retire).  Perhaps that’s why he’s the only guy without a big fat smile, above. (Ha, actually Apple isn’t required to file bonus paperwork with the SEC for Ive –

…Jonathan Ive, the company’s senior vice president for industrial design, whose position at the company does not trigger S.E.C. rules requiring public disclosure of stock awards.

– Because his role isn’t important to Apple’s well being?!)

CEO Tim Cook already has a huge bonus package (1 million shares) if he sticks around to 2021.
Expand
Expanding
Close