Apple executives get a reward in the form of shares, worth $ 31 million
18.10.2017 Erika J. Wells 0 Comments
Apple released a limited series of preferred shares to reward team leaders who can be exchanged for ordinary shares by 2022.
Preferred shares received senior Vice-President for retail and online trade Angela Arends, senior Vice President of marketing Philip Schiller, Apple’s senior Vice President of software eddy cue, senior Vice President of software development Craig Federighi, CFO Luca Maestri, senior Vice President, hardware development, Dan Riccio, senior Vice President of technology hardware johnny Srouji and chief operating officer Jeff Williams.
The issue took place in two stages, the shares were released on 1 and 15 October 2017.
Stocks tied to the profitability of Apple. Transfer of shares issued October 1, 2017, from the privileged to the ordinary will be at the end of the financial year 2020. The owners of shares issued October 15, 2017, will receive ordinary shares in equal installments on 1 April 2020, 2021 and 2022 if the will continue to work in the company.
If analysts ‘ forecasts of the capitalization of Apple will come true, and the leaders remain in their positions, each of them will receive about 193 469 ordinary shares, whose value today is about 31 million dollars.
Preference shares convertible into ordinary chosen as a measure to stimulate and promote employees.
Earlier in October 2017, each member of the management team received 10 million dollars in awards for 2014.
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