Apple senior executives get stock options packages worth $60 million each
05 Nov 2011
Apple Inc yesterday awarded a host of senior executives lucrative stock-option grants, in a bid to retain its senior bench following the death of co-founder Steve Jobs.
The company yesterday filed regulatory forms with the Security and Exchange Commission saying the senior executives had been granted 150,000 restricted stock units each.
Half of each grant would vest in 2013 and half in 2016, assuming the executives stuck with the company.
At yesterday's closing price for Apple shares, each package was worth around $60 million.
The executives that were awarded the grants included chief financial officer Peter Oppenheimer, general counsel Bruce Sewell and senior vice presidents Scott Forstall, Phil Schiller, Bob Mansfied and Jeffrey Williams.
Also senior vice president, Eddy Cue, who was granted a stock option with his recent promotion to the rank, received a grant for 100,000 restricted stock units.
