New Apple Senior Vice President of Retail and Online Stores Angela Ahrendts has received a signing bonus potentially worth $68 million at current share prices, in the form of 113,334 restricted stock units that vest over the next four years. Ahrendts will receive shares spread over several different vesting periods between June 1, 2014 and June 14, 2018, assuming Ahrendts stays with the company. Were Apple’s share price to rise, the RSUs could potentially be worth significantly more over that time.
It’s been a long wait for Angela Ahrendts to finally join Apple, but as the new VP of Retail just took office last week, Apple decided to make her move from fashion to tech much sweeter by granting her stock options worth a whopping $68 million. As part of her signing bonus, Ahrendts has received 113,334 restricted stock units that vest at several different periods between 2014 and 2018. Based on AAPL’s closing price today of $600.96 the shares may be worth $68.1 million, but could be worth much more if the stock price continues to grow. Apple announced Ahrendts hiring back in October 2013, but the former Burberry CEO didn’t transition to Apple until last week, with rumors claiming she was waiting until June for a fat £8 million bonus. If Ahrendts left any money on the table Apple definitely made it worth her while to come sooner by setting the vesting date of her first 16,264 shares to June 1, 2014, where she could net $9.78 million.