Apple Forced to Bribe Execs with More Moolah
Apple (NASDAQ:AAPL) is generously rewarding its senior executives with 150,000 shares each according to new filings with the Securities and Exchange Commission. Based on the value of Apple stock at the close of business Friday, that would come out to roughly $60 million dollars apiece. For the majority of recipients, the shares will be 50% vested in June of 2013 and then become fully vested in March of 2016.
CNET quoted Apple (NASDAQ:AAPL) spokesperson Stephen Dowling who said, “Our executive team is incredibly talented and they are all dedicated to Apple’s (NASDAQ:AAPL) continued success. These stock grants are meant to reward them down the road for their hard work in helping to keep Apple (NASDAQ:AAPL) the most innovative company in the world.”
The stock rewards were given out equally to Apple (NASDAQ:AAPL) Senior Vice Presidents with the exception of Eddy Cue, who received a bonus of 100,000, and Jonathan Ive. Eddy Cue was given a stock reward in September when he was promoted to the position of SVP and Jonathan Ive’s position does not fall under the SEC’s section for directors, officers, and principal stockholders.
- Apple Inc. (NASDAQ:AAPL): The shares recently traded at $399.10, down $1.14, or 0.28%. Its market capitalization is $370.87 billion. They have traded in a 52-week range of $297.76 to $426.70. Volume today was 1,875,866 shares versus a 3-month average volume of 22,121,000 shares. The company’s trailing P/E is 14.42, while trailing earnings are $27.68 per share. About the company: Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers. Get the most recent company news and stock data here >>