Apple’s New Chief Lawyer Katherine Adams Welcomed With Multimillion-Dollar Bonus Package of Restricted Stock

Apple’s incoming leader legal professional Katherine Adams has won a beneficiant bonus bundle within the type of limited inventory devices, or RSUs, consistent with a obligatory disclosure ^( filed with the U.S. Securities and Trade Fee this week.

Katherine Adams

The primary a part of the award is composed of 57,482 RSUs that vest in quarterly instalments at the 13th day of Might 2018, November 2018, November 2019, and November 2020, as long as Adams stays hired via Apple on the ones dates.

The second one a part of the award is composed of as much as 57,482 RSUs, a proportion of which can vest on October 1, 2020 in keeping with Apple’s relative general shareholder go back between November 13, 2018 and September 26, 2020.

In line with Apple’s efficiency in comparison to corporations within the S&P 500 over the following three years, Adams can see the second one a part of her award larger via up to 100 p.c, or reduced to 0 if Apple had been to underperform.

In line with Apple’s last value of $169.08 on Wednesday, every portion of 57,482 RSUs is price somewhat over $9.7 million for a possible general price of $19.4 million. The quantity may well be upper or decrease in keeping with Apple’s efficiency.

Apple continuously awards its senior executives with limited inventory devices as an incentive for them to stick with the corporate.

Adams will be triumphant the retiring Bruce Sewell ^( as Apple’s Normal Recommend and Senior Vice President of Criminal and World Safety on the finish of the yr ^( She was once up to now normal recommend at Honeywell.

Apple’s normal recommend oversees all felony issues, together with company governance, highbrow belongings, litigation and securities compliance, international safety, and privateness.

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