Earlier this week, it was reported that Apple’s Eddy Cue had been promoted to Senior Vice President for Internet Software and Services. MacRumors has discovered that Apple has awarded Cue 100,000 restricted stock units. Half of the stock units will be vested in 2013 and the other half in 2015, pending continued employment through the vesting dates.
A restricted stock unit (RSU), is a form of compensation valued in terms of company stock, but the stock is not issued at the time of the grant. Currently, the stock is worth $37.4 million.
In addition, he has submitted an SEC Form 3 with the SEC. This document shows what stock and options Cue holds as a senior vice president of Apple.
Cue has worked at Apple for 22 years and helped to create the first version of the company’s online store back in 1998. He also had a hand in building the iTunes Music Store, which launched in 2003, and the App Store, which debuted on the iPhone in 2008.
Last month, Apple awarded their new CEO Tim Cook 1,000,000 RSU which will vest over the next 10 years.