Apple Inc. (NASDAQ:AAPL)’s Board of Directors, except CEO Tim Cook, received 562 restricted stock units as part of an automatic grant, according to a filing with the US Securities and Exchange commission. The shares at present are worth over $230,000.
The names of the board of directors are as follows: Arthur D. Levinson, Bill Campbell, Millard Drexler, Albert Gore Jr, Robert A.Iger, Andrea Jung and Ronald D.Sugar.
All these directors received 562 restricted stock units on Wednesday worth around $232,000. As per the transaction Form 4 documents of SEC, the restricted shares are part of automatic grant as mentioned in the 1997 Director Stock Plan and will vest on Feb 1, 2014.
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According to the reports, a notice regarding the compensation given to the executive was posted on Apple’s website on February 6, in which it was briefly mentioned that the board members’ retainers start at $50,000 per year. There was, also , a new corporate governance rule, which requires top line executive to hold the company’s stock worth at least triple their basic salary.
The shares of Apple Inc. (NASDAQ:AAPL) dropped to a 52 week low of $439.88 on January 25, 2013. A report from BGC, advice Investors to move towards equity options to gain most from the possible upside moves of the stock. A possible dividend increase during the earning release in mid April along with the possibilities of new product launch can act as a catalyst for the stock. In the shareholder meeting on February 27, 2013, Apple Inc. (NASDAQ:AAPL) said that there is some great stuff in the pipeline, and the company is in active discussion about its use of cash. The shares of Apple can possibly move upward following the possible new product launch, but there are still cautious tones over its March Quarter result, says the report.
Apple Inc. (NASDAQ:AAPL) CEO stated at the shareholder meeting on February 27, 2013 “We have some great stuff coming” and “is in very, very active” discussions regarding its cash.
Apple Inc. (NASDAQ:AAPL) is also seeking to roll out more expensive iPads, which would hurt the average selling price, and it is possible that the interest and sales of the iPhone 5 is declining at a faster rate than expected.