Apple Awards Execs $60 Million Bonus to Share

Apple [AAPL] has given a bonus to several key execs at the company. In total the bonuses work out at about $60 million dollars based on todays share value of around $400/share.

Although seven execs received a large bonus, they wont be able to get that bonus for another few years as it’s based on shares given to each exec as detailed below:

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.

It is believed that the shares wont fully be available until 2016 so that the execs are encouraged to stick around at Apple. The harder they work over the next 5 years the more the shares could be valued at.

Jonathan Ive isn’t mentioned in the listing which has surprised some people. It is believed that he did get a bonus but that Apple doesn’t need to disclose it due to his position in the company not triggering S.E.C rules.

It’s certainly an interesting way of trying to keep hold of staff and make them work harder. 150,000 shares (in most cases) will be a good reason to stick around at Apple.

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