According a SEC filing, Luca Maestri is officially Apple’s new Chief financial officer and senior vice president, replaced the long-time CFO Peter Oppenheimer.
As per the filing, Mr. Maestri’s first day at the new role began yesterday, but he’s not yet on the biographies page on the company website.
Peter Oppenheimer will shift all the responsibilities to Maestri in the next few months, before he completely retires from Apple in September. Luca Maestri will receive an annual salary of $1 million and will also participate in the company’s performance-based bonus program for executives. In addition, he will also get some stock package as listed below.
In connection with Mr. Maestri’s appointment as CFO, he will receive an annual salary of $1 million and will be eligible to participate in Apple’s performance-based cash bonus program for executive officers on a pro rata basis for fiscal 2014. Also in connection with his appointment, the Compensation Committee of Apple’s Board of Directors awarded Mr. Maestri 6,337 restricted stock units under Apple’s 2014 Employee Stock Plan. 1,137 restricted stock units are scheduled to vest on October 1, 2015 and 1,107 restricted stock units are scheduled to vest on October 1, 2016. In each case, between 0% and 200% of the scheduled number of units may vest, with the percentage determined based on Apple’s relative total shareholder return from May 29, 2014 through September 26, 2015 and from May 29, 2014 through September 24, 2016, respectively. The award also includes 4,093 restricted stock units scheduled to vest in equal installments on each of May 29, 2016, May 29, 2017, and May 29, 2018, subject to continued employment through the applicable vesting dates.
Previously, he served as the Principle Accounting Officer at Apple, which will be transitioned to the new CFO role.
Filed Under: Apple, Top News