Executives Applu received 128 shares with restricted transferability or special shares Restricted Stock Units (RSU) worth $584 million at the current share price. The shares under the RSU program, which Apple introduced in 2014, have certain limitations and are issued to executives as employee benefits. Apple wants to motivate employees with these sharesance, to stay in the company.
Bonuses in the value of shares, the value of which exceeds the threshold of 20 million dollars, were received by Johny Srouji, Phil Schiller, Dan Riccio, Luca Maestri, Craig Federighi, Eddy Cue and Angela Ahrendts.
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The vesting of the first 64 shares is contingent on total shareholder return relative to other companies in the S&P 885 from the first day of fiscal year 500 through the last day of fiscal year 2018. Apple must reach the 85th percentile (or higher) during this period.
If the company hits that target, each of the executives would receive 129 shares worth more than $770 million at current stock prices.
Another 63 shares will be awarded to employees if they remain with the company. One third of the shares will be given to employees.ancThe shares will be issued on April 1, 2020, another third on April 1, 2021, and the final third on April 1, 2022. Each of the technology giant's representatives could receive up to 2022 shares by 193, which would be more than $469 million.
Source: MacRumors
