Apple’s New Hardware Chief Johny Srouji Awarded Nearly $10 Million in Stock

Apple’s newly promoted Senior Vice President of Hardware Technologies Johny Srouji was awarded 90,270 restricted stock units on October 5, 2015, according to a recent filing with the U.S. Securities and Exchange Commission. The restricted stock units awarded vest 12.5% in semi-annual installments over a four year period.

Srouji now has a total of 217,305 restricted stock units and 101,881 common stock units, which together amount to just over $34 million at AAPL’s current trading price of around $107 per share. The latest batch of 90,270 RSUs are currently valued at approximately $9.6 million, but will not fully vest until October 2019.

Apple often rewards high-level executives with RSUs based on their performance. In August, for example, Apple CEO Tim Cook and Senior Vice President of Internet Software and Services Eddy Cue received 560,000 and 350,000 restricted stock units respectively worth over $97 million combined. Apple retail chief Angela Ahrendts also received 113,334 restricted stock units as a signing bonus upon joining Apple in May 2014.

Srouji was promoted to Senior Vice President of Hardware Technologies on December 17, as part of a larger executive team makeover that saw Jeff Williams promoted to COO and marketing chief Phil Schiller take over App Store leadership across all Apple platforms. Tor Myhren, chief creative officer at ad agency Grey, will also join Apple in early 2016 as Vice President of Marketing Communications.

Srouji joined Apple in 2008 to lead development of the A4 chip for iPhone 4, and he now oversees silicon and hardware technologies, including batteries, application processors, storage controllers, sensors silicon, display silicon and other chipsets across Apple’s entire product line. Prior to Apple, he held senior positions at Intel and IBM in the areas of processor development and design.

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