New Apple Retail chief John Browett Receives $61m in Stock Rights

Back in January, we reported that Apple had appointed John Browett as the new Senior Vice President of Retail. Browett left his position as CEO of Dixons Retail. Today, a couple of filings filed with the  U.S. Securities and Exchange Commission reveal that Browett has officially started working with the company.

Browett’s starting date was revealed in an SEC Form 3 filing noting that Browett owned no stock in Apple at the time he began work. The filing reveals that on April 20th he began work at Apple, which is last Friday.

As of that start date, Browett also received a total of 100,000 restricted stock units (RSUs) on Friday, with staggered vesting dates. This ensures Browett is rewarded for staying on the job. At Apple’s current stock price, those RSUs are worth around $61 million.

His first batch of 5,000 units will vest on October 20, and an additional 15,000 units will vest at Browett’s one-year anniversary with the company, which is April 20, 2013.  The remainder of the units will vest in batches of 20,000 units on each anniversary of his start date through the fifth year.

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Parth Dhebar

Parth Dhebar is a 18 year-old entrepreneur. He is the founder of Simple Reviews, a blog focused on reviewing iPhone and iPad applications. Parth is a recognized name in the industry, known for covering Apple news. He is an editor at Techie-Buzz covering news on Apple. You can follow him on Twitter @pdparticle.