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Apple's latest top executives get $50M stock perks
Apple's newly-minted top executives will have good reason to stick around in the form of a hefty stock bonus that finishes vesting in four years.
New filings with the U.S. Securities and Exchange Commission show that Craig Federighi, Apple's senior vice president of Mac Software Engineering, and Dan Riccio, Apple's senior vice president of Hardware Engineering, were both given 75,000 shares of company stock as part of their promotions last week.
Those grants, currently worth $50.62 million, vest at three separate points over the next four years. The first batch of 25,000 vests December 23, 2013, with the other two chunks of 25,000 vesting April 23, 2015 and August 23, 2016 respectively.