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Apple executives receive restricted shares worth more than $ 30 million

As is regularly the case, Apple executives have received yet another million dollar amount of shares in the company, according to SEC filings.

We are talking specifically about 128,584 units of restricted shares in the amount above $ 20 million, following Apple's price on the day of receipt. These can be redeemed only after a specific time, as they are bonuses to encourage employees to stay with the company.

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Among the executives, Johny Srouji, Phil Schiller, Dan Riccio, Luca Maestri, Craig Federighi, Eddy Cue and Angela Ahrendts received 128,584 units of restricted shares this month. A further 64,885 shares were distributed on October 1, while another 63,699 shares were issued on 10/15.

In the first installment, the receipt of restricted shares depends on the total return of Apple shareholders from the first day of fiscal year 2018, ending on the last day of fiscal year 2020. Up to 200% of shares may be redeemed if the performance of Apple in the index Standard & Poors 500 you get a rating of 85 or higher compared to other companies.

If Apple's performance drops, a smaller percentage of shares will be acquired, but if the company achieves its goal, each executive could receive 129,770 in shares that are more than $ 20 million, considering the current value of $ AAPL. This ranking has failed to be achieved in the latest index of performance-based stocks.

The second batch of shares will be acquired over time, with each executive receiving 63,699 shares only if they remain in the company. One third of the shares will be acquired on April 1, 2020, another third on April 1, 2021 and the third and last on April 1, 2022. Chris Kondo, senior director of accounting at Apple, also received a prize of 12,740 shares , which can be redeemed from 2018.

At most, each executive could earn up to 193,469 in shares by 2022, which would be worth more than $ 30 million.

via AppleInsider