Last Monday, the members of the leadership team of Apple reaped a batch of vested restricted stock units that are worth more than $30 million, a bonus for exceeding the performance metrics that were mandated by the board of the company.
Last week, Angela Ahrendts, one of the retail bosses of Apple, Inc., the iPhone maker, made a whopping $28 million (£21 million) through bonus shares all thanks to the tech titan’s stock price going through the roof.
Ahrendts was offered with restricted stock units – a proportion of which would vest based on the total shareholder return of Apple over the ensuing years- when she first joined the firm after she stepped down from her position as the boss of Burberry in 2014. She has since benefited hugely from the share price o Apple almost tripling since she was first hired by the company.
When she joined Apple, the company stood at approximately $84 per share, however, it has currently jumped to $224. Last August, the share price of the tech giant was able to rise high enough in order to make the firm the first-ever $1 trillion listed company in the world.
Ahrendts was one of eight executives to receive125,494 shares of the firm when she joined. In 2017, she pocketed a total of $24.2 million – double the pay of Tim Cook, the chief executive of Apple. Reportedly, she has been paid more as compared to that earned by Cook ever since she joined the company to oversee the stores of Apple.
On the 3rd of October, Ahrendts sold 25,000 shares of the stock of the business. The stock was sold at an average price of $232.66 per share which resulted in a total value amounting to $5,816,500.00. After the completion of the said transaction, the senior vice president directly owns 105,538 shares in the firm that is valued at approximately $24,554,471.08. The transaction was initially disclosed in a legal filing with the Securities & Exchange Commission.