An SEC filing has revealed that Apple granted its incoming retail Angela Ahrendts 113,334 shares in the company. At today’s price (which hit $600 for the first time since the end of 2012), that comes out to about $68 million. Of course, as usual, she’ll need to wait to get the full payout—in this case the stocks will fully vest in 2018.
For comparison, John Browett, the company’s former retail chief, got 100,000 shares when he joined the company, or about $61 million at the time.
Ahrendts officially joined Apple last week after being announced as the company’s new Senior Vice President of Retail in October of last year. Apple had been without an executive filling that role since John Browett was ousted October of 2012 following a campaign by Apple employees to have him removed from the position over unpopular changes Browett had made during his short time with the company.
Apple CEO Tim Cook praised Ahrendts last year, saying “she shares [Apple’s] values and focus on innovation” and citing her desire to create an excellent customer experience as a factor in her selection.
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Did Browett’s shares vest?
I highly doubt it after only a 9 month tenure.
This is really not normal. Why are we accepting this? Why we still buying there product… this really sucks. This is way to much money. Nobody is so much more worth then an average engineer. CRAZY. Disgusted
You don’t comprehend anything you’re trying to discuss.
Imagine if Ahrendts got paid lower than the previous guy because she’s a woman?
That would be discrimination, which is illegal. So no, it should not and can not happen.
She actually got 13.3% MORE shares than Browett. After seeing what she did with Burberry, it is looking like she is the perfect fit for Apple.
She didn’t? What are we imagining exactly?
Why? What does that have to do with anything?
Ridiculous.
That’s a lot of money. Hope she does a great job.
thats insane, she did nothing yet and took millions.
Technically she didn’t take yet, she can’t…
hope she doesn’t coast for a year…
So you don’t know how hiring works, then.
What point does the information actually make? Other than the fact that it’s a huge amt that almost many SVPs in the organization get for their work.
I could make a nice living out of joining companies getting millions in shares for doing nothing then leaving. Where do i sign up?
Is this common practice everywhere, or just an Apple thing? I mean on day 1, before she knows where the bathroom is, they give her the diamond crusted parachute?
I am not sure that this encourages me to buy Apple products, it just seems follish, greedy and something from the days of imperial Rome. The Emporor favours his few while the city burns…
Take your FUD somewhere else, please.
I think you guys are missing the point here. She was the CEO for a great global brand, in order to recruit the best you have to pay. That’s a formality
what does that say about us down here?
The shares don’t vest until 2018. So she has to last at least 4 years before she a dime of that 68M. And if Apple is like most companies you only get a quarter of it every 4 years.
The shares won’t fully vest is 2018, there’s very likely stages of vesting.
Staged vesting over a medium to long period of time is like the dangling carrot – so long as there’s something to look forward to there’s a reduced likelihood of the individual wanting to leave.
There’s certainly to be another share award within the next 12-18 months, vesting a further 12-18 months along. That’s just how things roll at these dizzy and demanding heights.