Apple's new retail chief granted $68 million in restricted stock

Tue May 6, 2014 9:56am IST

The leaf on the Apple symbol is tinted green at the Apple flagship store on 5th Ave in New York April 22, 2014. REUTERS/Brendan McDermid/Files

The leaf on the Apple symbol is tinted green at the Apple flagship store on 5th Ave in New York April 22, 2014.

Credit: Reuters/Brendan McDermid/Files

Related Topics

Stocks

   

(Reuters) - Apple Inc granted its new retail chief 113,334 restricted stock units, the company said in a regulatory filing on Monday, valued at $68.1 million based on Monday's closing share price.

Angela Ahrendts, a senior vice president and the highest-ranking woman executive at the company, will receive the shares spread over several different vesting periods between June 1, 2014 and June 14, 2018.

Ahrendts is the first woman to join Apple's executive team in nearly a decade and will take on an expanded role, overseeing its vast network of stores that employs about 42,400 people and online teams. Apple announced the appointment in October, but Ahrendts only started her job at Apple on May 1.

Prior to joining Apple, Ahrendts served as the CEO of Burberry Group Plc, where she oversaw a doubling in sales and a 250-percent jump in the shares of the British fashion brand.

(Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar Warrier)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

TECH DEAL

A view of Microsoft and Nokia signs in Peltola, Oulu July 16, 2014. Microsoft Corp said on Thursday it would cut up to 18,000 jobs, or about 14 percent of its workforce, as it halves the size of its recent Nokia acquisition and trims down other operations. REUTERS/Markku Ruottinen/Lehtikuva

Opera's Mini browser to be installed on Microsoft phones

Norwegian software maker Opera signed a deal to take over the browser building unit of Microsoft's Nokia mobile phone unit and reported second-quarter earnings above expectations, sending it shares sharply higher.  Full Article 

Reuters Showcase

Silicon Valley Women

Silicon Valley Women

Despite lip service, Silicon Valley venture capital still a man’s world   Full Article 

Cyber Attacks

Cyber Attacks

U.S. government's nuclear watchdog victim of cyber attacks - report  Full Article 

Net Neutrality

Net Neutrality

Online video stars mobilize for U.S. net neutrality  Full Article 

'Heartbleed' Bug

'Heartbleed' Bug

U.S. hospital breach biggest yet to exploit Heartbleed bug - expert  Full Article 

Deal Talk

Deal Talk

Infineon agrees to buy Int'l Rectifier for $3 bln in cash  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage