For years pundits and analysts wondered if Apple could survive without its visionary CEO Steve Jobs. And with the Apple founder’s resignation earlier this year, and then tragic passing, it looks like they are going to get their answer.
But Apple’s future doesn’t look too gloomy. A majority of its key players are still with the company. And it doesn’t look like they’re going anywhere anytime soon, as several of them were just given millions of reasons to stick around…
Noting a recent filing with the US Securities and Exchange Commission, MacRumors is reporting that Apple has awarded several of its executives major bonuses. The extra money comes in the form of company stock, and ranges between 100,000 and 150,000 shares.
Given that Apple is currently trading around $400 per share, the bonuses are equivalent to at least $40 million dollars. But the shares won’t be tradable for another 5 years, meaning those who received the bonuses must stick around a while to collect.
Not only does this entice executives to stick around, it also encourages them to perform at a high level. Since the company’s stock price depends on its performance, the value of their bonuses could drop dramatically if they don’t continue to succeed.
Among the executives that received the extra shares is Senior Vice President of Marketing Phil Schiller, Chief Financial Officer Peter Oppenheimer, and Senior Vice President of iOS Scott Forstall. Interestingly enough, Johnny Ive was not mentioned in the SEC filing.
Apple has been on a bit of a hot streak over the last decade. And with a majority of the people responsible for that success still with the company (for at least another 5 years), it doesn’t look like it’s going to end anytime soon.