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Apple Revenue Prompts Company To Give Big Rewards To Executives

Apple Revenue

First Posted: 11/06/11 09:54 AM ET Updated: 11/06/11 09:54 AM ET


SAN FRANCISCO (Reuters) - Apple Inc gave six of its top executives $60 million in company stock after record revenue of $108.25 billion last fiscal year.

The executives, including software chief Scott Forstall, Chief Financial Officer Peter Oppenheimer, and marketing lead Phil Schiller, each received 150,000 restricted Apple shares that would fully vest in 2016.

The grant amounts to about $60 million based on the closing price of Apple shares on Friday. The shares closed down $2.83 at $400.24.

An Apple spokesman said the stock grant was meant to ''reward them down the road'' for their continued work in keeping Apple innovative. (Reporting by Poornima Gupta)
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Filed by Ramona Emerson  |