Apple Increases Employee Incentive with Stock Shares

In an email, Tim Cook announced that Apple will offer RSU grants, or Restricted Stock Units, to all of its employees. Previously RSU grants were reserved for top Apple management and product engineering roles to ensure talent retention. Case and point, Tim Cook recieved 1 million shares following Steve Jobs succession in 2011, which will vest over time through 2021. Now, Apple will offer, albeit smaller, shares to all of its employees including retail and AppleCare teams.

 

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“Team,

I’m writing you today to announce a new stock ownership program for employees.

For many years, we have offered people across the company the opportunity to become shareholders in Apple by participating in the Employee Stock Purchase Plan (ESPP), which makes Apple stock available at a discount that’s exclusive to our employees. Many of you have taken advantage of this program, and I am told we have one of the highest participation rates of any company offering employee stock purchase plans.

In addition to the ESPP, employees in certain roles have been eligible to receive restricted stock units. Each year, the management team recommends eligible employees — typically from our product areas — to receive RSUs as an incentive to continue their important contributions to Apple. Each grant is approved by the Board of Directors.

This year, I’m excited to let you know that the Executive Team has created a new program for stock ownership through RSU grants. It’s designed to reach employees who were not previously eligible, including many in our amazing retail and AppleCare teams.

This new program extends eligibility to everyone not covered by other RSU programs, effectively making everyone who works at Apple eligible for an RSU grant. This is an unusual step, and very special — just like our team.

Please check HRWeb for details on this new program.

At Apple, our most important resource — our soul — is our people. Along with our many progressive benefit plans, this is another way for us to say thanks. On behalf of the Executive Team, I’d like to thank you for your many contributions to Apple. Working with all of you is the privilege of a lifetime.

Best,

Tim”



According to 9to5mac, Apple has already begun giving RSU grants to its retail employees with initial share values ranging from $1000-$2000; this amount will likely increase over time and depend on position and assigned project.

 

Top Image Credit: Hadrian / Shutterstock.com

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Conner Carey's writing can be found at conpoet.com. She is currently writing a book, creating lots of content, and writing poetry via @conpoet on Instagram. She lives in an RV full-time with her mom, Jan and dog, Jodi as they slow-travel around the country.