Apple's new general counsel awarded hefty gratuityApple Computer, which last month lured Donald Rosenberg away from a 30-year tenure at IBM Corp. to fill its general counsel vacancy, appears to have done so with the help of approximately $18 million.
According to documents filed with the Securities and Exchange Commission, the Cupertino, Calif.-based company on Dec. 1 awarded Rosenberg 200,000 shares of restricted stock.
The shares will not fully vest until four years after their issue date, but at the close of the stock market on Tuesday were valued at over $18.25 million.
Rosenberg arrived at Apple about three weeks ago, replacing former vice president and general counsel Nancy Heinen, who departed back in May amid concerns over the company's stock option discrepancies.
Prior to joining Apple, Rosenberg spent over 30 years at IBM, holding numerous positions including senior vice president and general counsel; vice president and assistant general counsel for litigation; and counsel to the company's mainframe division.
His focus on securities, intellectual property and competition issues has also involved extensive interaction with the SEC, the US Department of Justice and the European Economic Commission.
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