Apple’s new Senior Vice President of Retail and Online Stores, Angela Ahrendts, has received her signing bonus, and it’s quite nice. The package is potentially worth $68 million at current share prices, and it comes in the form of 113,334 restricted stock units that vest over the next four years.
MacRumors reports that Ahrendts, who officially joined the company earlier this month, will receive shares spread over several different vesting periods between June 1, 2014 and June 14, 2018, assuming Ahrendts stays with the company. Of course, if Apple’s share price rises, her RSUs could be worth significantly more.
Restricted stock units are a popular form of employee retention that comes in the form of stock compensation that rewards an employee for staying with the company. Each RSU converts to one share of stock on its vesting date.
In the face of Apple’s upcoming 7:1 stock split, RSUs will be multiplied by seven to maintain their value. Apple awards dividends to employee holders of RSUs, so Ahrendts’ 113,334 shares will be worth nearly $1.5 million in yearly dividend payments.
