Majority of shares due to vest in three intervals through 2018
Newly-published SEC filings reveal that on Wednesday, Apple awarded six top executives 35,780 restricted stock units each. Recipients include senior VP of Operations Jeffrey Williams; general counsel Bruce Sewell; senior VP of Worldwide Marketing Phil Schiller; senior VP of Hardware Engineering Dan Riccio; senior VP of Software Engineering Craig Federighi; and finally, senior VP of Internet Software and services Eddy Cue.
CEO Tim Cook notably missing
Four out of the top five highest-paid executives among Standard & Poor 500 companies belonged to Apple during 2012, according to the Securities and Exchange Commission filings seen by Bloomberg. The people included senior VP of Technologies Bob Mansfield, CFO Peter Oppenheimer, senior VP of Operations Jeff Williams, and general counsel Bruce Sewell. About 80 percent of S&P 500 companies had submitted 2012 data as of April 12. The figures for the Apple execs are based on the total current worth of their possible stock and pay packages, rather than their actual 2012 salaries and bonuses.
General counsel takes on outside tasks
Apple's general counsel and senior VP for legal and government affairs, Bruce Sewell, has been appointed to the board of directors for Vail Resorts, according to an announcement. Sewell will start in his new role "immediately," Vail's statement says. The company operates a number of mountain resorts spread across Colorado, California, Nevada, Minnesota, Michigan and Wyoming. One subsidiary, RockResorts, manages luxury hotels.
Transactions come despite sagging shares
Two key people with Apple have sold off modest quantities of stock, according to US Securities and Exchange Commission filings spotted by AppleInsider. Last Thursday, board chairman Arthur Levinson sold off 7,500 shares, which at the time were valued at $560.65 per share. That earned Levinson over $4.2 million before any applicable taxes.
Apple SEC filing shows huge bonus payouts
Apple on Friday sent filings to the SEC that showed one of the larger bonus payouts to its senior vice presidents in recent memory. iOS head Scott Forstall, Hardware Engineering's Bob Mansfield, CFO Peter Oppenheimer, Worldwide Product Marketing lead Phil Schiller, general legal counsel Bruce Sewell, and operations head Jeff Williams all received share awards of 150,000 shares each. At current market values of about $400 per share, each will have made $60 million if they cashed in the same day.
Includes reward for covering for Jobs' absence
Apple COO Tim Cook pulled in $59.1 million in total compensation during 2010, including bonuses and stock options, official SEC filings show. While already reasonably wealthy thanks to an $800,000 salary, he was further granted a "special award" in March, signifying "outstanding performance" in managing Apple while CEO Steve Jobs was away coping with a liver transplant. Cook received 75,000 restricted Apple shares, plus a $5 million discretionary bonus.