New Apple GC Gets Stock Options Currently Valued at $18M
Posted Sep 29, 2009 7:02 AM CDT
By Debra Cassens Weiss
Apple’s new general counsel D. Bruce Sewell is getting 100,000 shares of Apple stock currently valued at $18 million.
There’s just one rub, according to Legal Pad. The stock doesn’t vest for four years.
Sewell, formerly the general counsel at Intel Corp., replaced Daniel Cooperman, Apple’s general counsel since 2007. He apparently lost out on $18 million in stock options when he retired earlier this month, according to Legal Pad.
Cooperman had replaced Don Rosenberg, who was unable to cash in about $30 million worth of unvested stock when he left Apple after working there less than a year, the story says.
Legal Pad’s headline reads: “Apple's New GC Gets Stock Windfall (If He Can Survive Long Enough).”