If you were puzzled by the fact that the $73M compensation package paid to retail head Angela Ahrendts dwarfed those awarded to other senior Apple execs, including Tim Cook’s $9.2M, Apple explained that it was in large part to compensate her for unvested Burberry stock she lost by leaving the company …
Re/code reports that Ahrendts walked away from unvested Burberry stock worth $37M, in addition to salary and allowances totalling $5M a year to take a position paying substantially less. Apple said that her package reflected both her losses and her value to the company.
Some 40% of her stock allocation is subject to performance requirements.
The Cupertino technology giant said its 2014 compensation package was designed to make Ahrendts whole financially — and successfully recruit an executive who, during her tenure at Burberry, led the company through a turnaround in which its market capitalization more than doubled.
Business Insider noted that vacation cash-outs show that neither Tim Cook nor Eddy Cue used all their vacation days last year, picking up $57k and $42k respectively in compensation.
