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
92 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
92 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
92 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
92 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
92 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
92 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)

Popular Stories

AirPods Pro Firmware Feature

Apple Releases Firmware Updates for AirPods Pro 2 and AirPods 4

Monday November 11, 2024 11:28 am PST by
Apple today released firmware updates for both AirPods 4 models (version number 7B20) and the AirPods Pro 2 with both Lightning and USB-C charging cases (version number 7B21). All of these AirPods models were previously on firmware version 7B19. It is not immediately clear what new features or changes are included in firmware versions 7B20 and 7B21, but we will update this story if we find...
New Things Your iPhone Can Do in iOS 18

18 New Things Your iPhone Can Do in iOS 18.2

Wednesday November 13, 2024 2:09 am PST by
Apple is set to release iOS 18.2 next month, bringing the second round of Apple Intelligence features to iPhone 15 Pro and iPhone 16 models. This update brings several major advancements to Apple's AI integration, including completely new image generation tools and a range of Visual Intelligence-based enhancements. There are a handful of new non-AI related feature controls incoming as well....
iPhone SE 4 Thumb 1

iPhone SE 4 Camera Modules to Enter Mass Production Next Month

Tuesday November 12, 2024 2:56 am PST by
Apple's camera module supplier for the upcoming iPhone SE 4 is set to begin mass production of the components in December, according to a new report coming out of Korea. Economic newspaper Ajunews reports that LG Innotek will supply the front camera module for the budget-friendly fourth-generation device. Final tests are now said to be underway, with mass production of the module following...
iphone 6 thickness

iPhone 17 'Air' May Not Be Much Thinner Than iPhone 6

Monday November 11, 2024 5:18 am PST by
Next year's iPhone 17 "Air" model may not be as thin as Apple planned, according to a rumor originating in Korea. According to the news aggregator account "yeux1122" on Naver, citing industry sources, Apple has run into problems making the new iPhone 17 model sufficiently thin. The device's reduced thickness is apparently dependent on manufacturing a battery with a thinner substrate, but...
new mac holiday

The Best Early Black Friday Mac Deals

Monday November 11, 2024 7:45 am PST by
Black Friday is getting closer, and prices on MacBook Pro, MacBook Air, iMac, and Mac mini computers have started to drop as the shopping holiday nears. These deals include the latest models of the M4 MacBook Pro and iMac. Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small payment, which helps us keep the site...
iOS 18

Here's Everything New in iOS 18.2 Beta 3

Monday November 11, 2024 4:53 pm PST by
Apple seeded the third betas of iOS 18.2 and iPadOS 18.2 to developers for testing today. While the third betas of each update are minor relative to the first two betas, there are still a handful of changes across the Photos app, TV app, and more. A corresponding iOS 18.2 public beta with these changes will likely be released later this week, and Apple previously confirmed that the software...
General Final Cut Pro Feature

Apple Likely to Announce Final Cut Pro Update This Week With These New Features

Sunday November 10, 2024 12:13 pm PST by
In its announcement video for the new Mac mini last month, Apple teased an "upcoming" version of Final Cut Pro for the Mac. Apple will likely announce the update during the annual Final Cut Pro Creative Summit, which begins this Wednesday. The conference is held in association with Apple, and attendees will be visiting Apple Park on the first day. Apple already teased four new features...
iPad iOS 16 WP Display Feature eric edit

Apple to Launch AI-Powered Home 'Command Center' as Soon as March 2025

Tuesday November 12, 2024 1:09 pm PST by
Apple is planning to launch an AI-powered smart home display as soon as March 2025, according to Bloomberg's Mark Gurman. The display will measure in at approximately six inches, and while it is similar to an iPad, it is square rather than rectangular and it has thick bezels around the edges. There is a camera at the top front so that it can be used for FaceTime, plus there are internal speakers...