The iBulletin » News » Apple executives gain over $30 million each in vested stock bonus

Apple executives gain over $30 million each in vested stock bonus

Apple’s leadership team members reaped a batch of vested restricted stock units worth more than $30 million on Monday, a bonus for going beyond board-mandated performance numbers.

Unfolded in series of U.S. Securities and Exchange Commission (SEC) filings made public on Wednesday.

Apple COO – Jeff Williams

Head of Retail Angela Ahrendts, CFO Luca Maestri and COO Jeff Williams witnessed 130,528 RSUs convert into common Apple stock. The core was worth $30.3 million at the end of trading.

Apple CFO – Luca Maestri

Apple held back 68,530 shares from the awards to meet the tax laws criteria.

The bonus, dealt out on a yearly basis, is taken from a target number of RSUs planned to vest based on Apple’s total shareholder return relative to other companies in the S&P 500. This week’s award accounted for TSR performance between Sept. 27, 2015, and Sept. 29, 2017.

Apple’s performance Showed great results

As detailed in the documents, TSR is planned based on a change in AAPL share price during the 3-year period. From the date of start in 2015, Apple stock was priced at $113.15, while the ending price as of Sept. 29 was calculated to be $234.62, adjusting for dividends. The figures peg Apple’s TSR at 107.36% for the observed period.

In comparison to other companies in the S&P 500, Apple’s performance ranked 51 out of 454 firms, putting it in the 89th percentile.

As with past awards, the bonus structure permits for between 0 and 200% of the target number of RSUs to vest, depending on execution. Anything above the 85th percentile meets requirements for a complete 200% award.