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AAPL Stock: 116.47 ( + 0.16 )

Printed from http://www.macnn.com

Apple grants 100,000 shares to new retail head John Browett

updated 10:20 am EDT, Wed April 25, 2012

Stocks currently valued over $56 million

Apple's new senior VP of retail, John Browett, has been granted 100,000 shares in company stock. Browett began his job on April 20th, the date the shares were granted as well. A Securities and Exchange Commission filing shows that the stock is set to vest over the course of five years: 5,000 shares will be available on October 20th, followed by another 15,000 on the first anniversary of his employment, and repeating increments of 20,000 on each subsequent anniversary.

Based on yesterday's closing price the stock would be worth about $56,028,000. Browett is replacing long-time retail head Ron Johnson, who actually left Apple in November, but without a replacement lined up. Browett was previously the CEO of major UK retailer Dixons.

Apple regularly uses delayed stock grants to ensure the loyalty of top executives. This includes CEO Tim Cook, who won't get the full benefit of his shares unless he stays with the company for 10 years.




by MacNN Staff

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Comments

  1. Mr. Fartleberry

    Joined: Dec 1969

    -1

    And this will come from whom?

    Now that's something I'll think about next time I'm looking at shiny Chinese product in the Apple Store.

  1. mac_in_tosh

    Joined: Dec 1969

    -1

    Not bad for 0 days of work

    As a long time Apple user, I'm starting to sour on this company. I don't mind paying more for better quality, but it seems the additional cost of Macs is hard to justify given that they use the same generic components as PC's and as it seems the extra profits are just going to enrich the executives while all along they use near-slave labor to make their products.

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