Majority of shares due to vest in three intervals through 2018
Newly-published SEC filings reveal that on Wednesday, Apple awarded six top executives 35,780 restricted stock units each. Recipients include senior VP of Operations Jeffrey Williams; general counsel Bruce Sewell; senior VP of Worldwide Marketing Phil Schiller; senior VP of Hardware Engineering Dan Riccio; senior VP of Software Engineering Craig Federighi; and finally, senior VP of Internet Software and services Eddy Cue.
Riccio taking antennas and Wi-Fi, sources say
While Bob Mansfield looks after Apple's special projects, two senior VPs -- Hardware leader Dan Riccio and Operations head Jeff Williams -- are handling his former duties as senior VP of Technologies, sources say. Riccio's tasks now include overseeing antenna design for mobile and the Wi-Fi components in all of Apple's major products. The situation is a reversal of the one that brought Mansfield out of his recent retirement, in which he was asked to transition wireless teams over to Riccio.
Could be devoting more effort to iWatch project
Bob Mansfield's departure from the Apple executive team was made at his request so he could focus on new products, without being distracted by work on the executive committee, an anonymous source tells Bloomberg. Prior to this week, Mansfield was the company's senior VP of Technologies. He is now involved solely with "special projects," though what that means hasn't been identified officially or by sources.
Former Apple SVP of Hardware Engineering departs the company
[Update: clarification of the shift of duties, not leaving Apple] Bob Mansfield -- an Apple engineering veteran, and former senior VP of Hardware Engineering -- is no longer an Apple executive, a company spokesman has confirmed with AllThingsD. Prior to his unannounced disappearance from the executive team webpage, Mansfield was listed in the recently-created position of Senior VP of Technologies. Mansfield had planned to retire from the company, but was enticed by CEO Tim Cook to stay on with the executive team in late 2012, possibly to work on Apple’s rumoured iWatch and to help the replacement SVP of Hardware Engineering, Dan Riccio, transition into his new role.
Thought to be long-rumored iWatch
Apple has started assembling a team of people specializing in fitness, medical sensors, manufacturing, and hardware and software engineering in order to produce a fitness-focused wearable computer chock full of sensor technology, sources say. Apple is stated to have experimented with a number of designs in the past, including ones that could clip onto clothing, like an iPod shuffle. Currently though the company is thought to have returned to a wrist-wrapped device, likely the iWatch.
CEO Tim Cook notably missing
Four out of the top five highest-paid executives among Standard & Poor 500 companies belonged to Apple during 2012, according to the Securities and Exchange Commission filings seen by Bloomberg. The people included senior VP of Technologies Bob Mansfield, CFO Peter Oppenheimer, senior VP of Operations Jeff Williams, and general counsel Bruce Sewell. About 80 percent of S&P 500 companies had submitted 2012 data as of April 12. The figures for the Apple execs are based on the total current worth of their possible stock and pay packages, rather than their actual 2012 salaries and bonuses.
Still has plenty, likely hoping to avoid cap-gains increase
As reported previously, a possible reason for the number of Apple executives cashing out some portion of their holdings in the company -- despite the fact that the stock has only just begun a recovery from a six-month low in price -- may be to avoid the strong possibility that taxes on capital gains are likely to go up in January. Newly-minted Senior VP of Technologies Bob Mansfield, the former head of hardware, has joined the club -- cashing in 35,000 shares to reap a pre-tax windfall of $20.3 million.
Mansfield allegedly tried to avoid Forstall
Bob Mansfield's return to Apple was partly enabled by the departure of Scott Forstall, a source described as close to the company tells AllThingsD. "The timing of Bob’s return is not coincidental," the person explains, elaborating that Mansfield didn't like Forstall's confrontational management. Several sources say that Mansfield generally tried to avoid Forstall; this may be backed up by a 2011 Bloomberg report, which said that Mansfield would only meet with Forstall if CEO Tim Cook was around to mediate.
Workers thought replacement was unprepared
Apple CEO Tim Cook had to deal with an "insurrection" when it was announced that Bob Mansfield -- formerly Apple's senior VP for hardware engineering -- was retiring, three Bloomberg sources say. The people claim that after the announcement, several senior engineers on Mansfield's team complained to Cook; they argued that Mansfield's replacement, Dan Riccio, was unprepared for the importance of the job. To get Mansfield to return to the company, Cook reportedly offered him "an exorbitant package of cash and stock worth around $2 million a month."
Federighi, Riccio get promotions
Apple's senior VP for hardware engineering, Bob Mansfield, will be staying with the company in spite of an earlier statement that he was retiring, according to an announcement. He will take on a new title, but what that might be is so far undisclosed. Apple will only say that he's expected to "work on future projects" and continue to report to CEO Tim Cook.
Mansfield admits withdrawal 'was a mistake'
Apple has reversed course on an earlier decision and put all qualifying products back on a list of products certified to the EPEAT environmental standard. The decision was announced today through an open letter by Bob Mansfield, Apple's soon-to-be-retired senior VP of hardware engineering. "We’ve recently heard from many loyal Apple customers who were disappointed to learn that we had removed our products from the EPEAT rating system. I recognize that this was a mistake. Starting today, all eligible Apple products are back on EPEAT," the message begins.
Pair combined have 18 years of service with Apple
Two highly-placed Apple employees announced their retirement dates today. Apple hardware Senior Vice President Bob Mansfield and Apple Principal Accounting Officer Betsy Rafael are both retiring later this year. Mansfield supervised the engineering of every major Apple product released in the 21st century. Rafael has been with Apple and has served as the principal accounting officer since 2008, and is responsible for managing the company's finances.
Project mired in review
A proposed home for Apple's senior VP of hardware engineering, Bob Mansfield, is generating a heavy amount of controversy and legal contention in the town of Bonny Doon, California, the San Jose Mercury News reports. Mansfield and his wife Andrea first filed in 2010 for county approval to build on 45 acres of a former quarry on a knoll. The planned home should measure 9,000 square feet -- though only 6,000 is above grade -- and include features like a basement theater and an agricultural roof, as well as outdoor amenities like a potting shed, four barns, and outdoor kitchen, and a herd of goats.
Mansfield, Forstall hold on to investments
Three key Apple executives have made about $150 million after selling newly-vested restricted stock, SEC filings show. CEO Tim Cook, CFO Peter Oppenheimer, and senior worldwide marketing VP Phil Schiller were among several executives granted shares in September 2008 in order to buy their loyalty through 2012. Although the shares were valued at just $105.26 each at the time, the grants were in total worth roughly $122 million.
Apple SEC filing shows huge bonus payouts
Apple on Friday sent filings to the SEC that showed one of the larger bonus payouts to its senior vice presidents in recent memory. iOS head Scott Forstall, Hardware Engineering's Bob Mansfield, CFO Peter Oppenheimer, Worldwide Product Marketing lead Phil Schiller, general legal counsel Bruce Sewell, and operations head Jeff Williams all received share awards of 150,000 shares each. At current market values of about $400 per share, each will have made $60 million if they cashed in the same day.
Exec indirectly responsible for iPhone 4 leak
Apple's senior VP for iOS, Scott Forstall, was indirectly responsible for the leak of an iPhone 4 prototype in 2010, a new Businessweek profile suggests. A former Apple manager claims that Forstall persuaded the company's CEO at the time, Steve Jobs, to allow dozens of engineers to carry prototypes so they could do better testing of network performance and reduce dropped calls. It was one of Forstall's engineers who accidentally left an iPhone 4 in a pub, which eventually resulted in a Gizmodo hands-on piece and a high-profile criminal investigation.
Hardware VP a regular Apple trader
Apple's senior VP of hardware, Bob Mansfield, has made his largest-ever sale of Apple stock, an SEC Form 4 filing reveals. On Monday Mansfield is reported to have sold 38,863 shares of company stock, each worth $351.89 at the time. The deal returned $13,675,504.96, leaving just 501 Apple shares in his holdings.
Mansfield reaps over $10.8 million
Several Apple executives have taken advantage of record stock prices through large share selloffs, according to SEC documents. The greatest amount of cash was brought in by the company's senior VP of hardware engineering, Bob Mansfield, who sold 40,000 shares on October 21st with a strike price of $36.54 for $308 per share, granting him $10.844 million. The executive is already relatively wealthy without bonuses or stock options, earning a salary of $600,396 a year.