Forstall worth another $45 million if he's at Apple in June 2013
TweetFollow Us on Twitter

Forstall worth another $45 million if he's at Apple in June 2013


Scott Forstall, who is leaving Apple, could make another US$45 million if Apple lets him stay through June 2013, reports "Business Insider" (http://macte.ch/je5te).

This week Apple announced that Forstall, Apple's senior vice president of iPhone software, will be leaving Apple next year and will serve as an advisor to CEO Tim Cook in the interim. In April, he sold 95% of his holdings of Apple shares, clearing $38 million after taxes.

In November 2011, Forstall received a grant of 150,000 shares in the form of restricted stock units, vesting in two tranches. Half the shares vest on June 21, 2013. At current prices, those shares are worth about $45 million before taxes.
The second half of his 2011 bonus doesn't vest until 2016, notes "Business Insider."

What's more, Forstall has another 100,000-share grant that doesn't vest until 2014. Those total $105 million at today's share prices.

"We assume he's losing those shares, though it's possible Apple might accelerate his vesting or otherwise provide some partial compensation," says "Business Insider." "Why would Apple do that? It could be part of a non-compete deal. Even if it doesn't want Forstall, it doesn't want to see him run off to a competitor."

 
AAPL
$132.54
Apple Inc.
+1.15
GOOG
$540.11
Google Inc.
-2.40
MSFT
$46.90
Microsoft Corporation
-0.52
MacNews Search:
Community Search:
view counter

view counter
view counter
view counter
view counter
view counter
view counter

Biz Builder Delux (Games)
Biz Builder Delux 1.0.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0.0 (iTunes) Description: Ah, there's nothing like the rhythmic bustle of a burgeoning business burg... especially when you're the one building it! That's right, from a video game store to the corner fast food joint, run what YOU want as the town... | Read more »
Auroch Digital is Bringing Back Games Wo...
| Read more »
Carbo - Handwriting in the Digital Age...
Carbo - Handwriting in the Digital Age 1.0 Device: iOS Universal Category: Productivity Price: $3.99, Version: 1.0 (iTunes) Description: | Read more »
Draggy Dead (Games)
Draggy Dead 1.1 Device: iOS Universal Category: Games Price: $.99, Version: 1.1 (iTunes) Description: Ditch your dead end job and take up a rewarding career in Grave Robbing today!Guide the recently deceased to a fun filled life of Meat eating mayhem, be careful of the many traps and enemy's | Read more »
Bad Dinos (Games)
Bad Dinos 1.0.0 Device: iOS Universal Category: Games Price: $2.99, Version: 1.0.0 (iTunes) Description: | Read more »
The Apple Watch isn't Great as a Fi...
| Read more »
Show the World What You See With Stre.am...
Live broadcasting is getting popular on mobile devices, which is why you can now get Stre.am, by Infinite Takes. [Read more] | Read more »
PhotoTime's 2.1 Update Adds Apple W...
The latest PhotoTime update is adding even more functionality to the handy photo organizing app. Yep, including Apple Watch support. [Read more] | Read more »
Oh My Glob! Adventure Time Puzzle Quest...
Finn and Jake are taking over D3 Go!'s popular puzzle game series in the upcoming Adventure Time Puzzle Quest. [Read more] | Read more »
Earthcore: Shattered Elements - Tips, Tr...
At first glance, Earthcore: Shattered Elements seems like a rather simple card-battling game. Once you’re introduced to skills that will change quite a bit. Even more so once you start to acquire hero cards. But it’s not so complicated that we couldn’t put together a beginner’s guide for all you Earthcore neophytes. [Read more] | Read more »
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.