14 DAY TRIAL // In the wake of several executives leaving Apple, the Cupertino, California based company is awarding those who are sticking around with $60 million bonuses each.
The bonus is calculated in Apple shares (at the current trading price of $400), of which half vest in a couple of years, whereas the other half vests in 2016, per the table below (courtesy of 9to5mac). 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 Bob 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.
Some might find it strange that Apple’s design guru, Jonathan Ive, is nowhere to be found on that list.
And some might assume it has something to do with the fact that Steve Jobs, prior to his death, gave Ive immense operational power within the company.
The truth is Ive’s position at the company does not trigger S.E.C. rules requiring public disclosure of stock awards. In other words, Apple doesn’t have to file paperwork with the SEC for Ive concerning the man’s bonus awards.
CEO Tim Cook is also listed separately. His bonus package already includes 1 million Apple shares. However, to get his hands on all the cash, Cook must remain on Apple’s payroll until 2021. Apple’s chief executive officer is 51 years old.
To learn more about the Apple executives mentioned in this report, visit Apple’s Press Info section. The company's S.E.C disclosures are here.