Apple VPs Dan Riccio and Craig Federighi Awarded 75,000 Shares of Restricted Stock

SEC Form 3 filings have indicated Apple has awarded newly-minted vice presidents Dan Riccio and Craig Federighi 75,000 shares of restricted stock units each.

The RSUs were granted on August 23rd and will become fully vested on three different dates, with the first 25,000 units taking place on December 23, 2013, then the rest on April 23, 2015 and finally August 23, 2016. In order to fully receive their entire 75,000 shares, both men will be inclined to stay within Apple until the Fall of 2016.

At today’s current value, these shares would be worth $50.6 million dollars. The filings also note the existing annual stock bonuses awarded to each executive dating back to 2008.

Apple announced last week both men had been promoted to senior vice presidents. Riccio was the former senior vice president of Hardware Engineering and Federighi the former senior vice president of Mac Software Engineering.

Another filing noted Apple board member (and current CEO of J.CREW) Millard Drexler selling 25,000 shares of stock at $663.75/share, worth just over $16.5 million dollars.