updated 05:00 pm EST, Wed December 6, 2006
Apple legal VP gets $18m
Apple appears to have lured its recently hired senior-level legal executive with a stock grant worth about $18 million. Last month, the company hired former IBM legal exec Donald J. Rosenberg as its senior vice president and general counsel, replacing Nancy Heinen, who left the company in May of 2006. According to SEC documents filed this week, Rosenberg received a stock grant of 200,000 shares of Apple, which are worth just under $18 million at Wednesday's closing stock price of $89.83. The stock grant vests in four years, according to the regulatory documents filed. Apple has previously said that the 30-year IBM executive's focus on securities, intellectual property and competition issues has involved extensive interaction with the SEC, the US Department of Justice and the European Economic Commission.
Heinen's departure from the company came just before Apple announced its investigation into stock option backdating, leaving analysts to belive that she one of the executives involved with Apple's stock option scandal; she hired counsel in August.