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Apple board members receive $262K in restricted stock

Members of Apple's board of directors this week received automatic grants of restricted stock units worth $262,000 as of Thursday, according to U.S. Securities and Exchange Commission filings.




James Bell, Al Gore, Rogert Iger, Andrea Jung, Arthur D. Levinson, Ronald Sugar and Susan Wagner each received 1,521 restricted stock units on Tuesday as part of Apple's non-employee director stock plan. The RSUs are set to vest on Feb. 1, 2019, contingent of continued service with the company.

Expectedly absent from the list of board members is Apple CEO Tim Cook, who also serves on the company's board. Cook's compensation plan does not include director incentives, and instead involves a base salary and stock bonuses that mature in lockstep with the company's fiscal performance.

As usual, the board's stock grants were issued on the same day as Apple's annual shareholders meeting. Held at Apple Park for the first time, this year's event covered a number of topics, with Cook on hand to address questions from shareholders of record.

This year saw stock holders shoot down a proxy proposal to create an internal committee dedicated to human rights issues, particularly those present within Apple's supply chain. Also struck down was a proposal to amend the proxy process.

Apple's own measures, including one covering executive compensation, passed muster.

Cook took the opportunity to update stockholders on company initiatives and performance. Of note, revenue from Apple's wearables business, which includes Apple Watch, AirPods and Beats headphones, is nearing that of a Fortune 300 company.