Select silicon design and hardware engineers as well as some software and operations groups were informed of the out-of-cycle stock bonuses last week. These shares, being issued as restricted stock units, are said to vest over four years. This could incentivize employees to stay at the company instead of giving in to the temptation of job-hopping.
The bonuses were reportedly presented by managers to reward well-performing employees, which is said to amount to 10 percent to 20 percent of Apple engineers. Many engineers claimed that they got roughly $80,000, $100,000, or $120,000 worth of shares. This gargantuan stock bonus is in stark contrast to what the iPhone maker usually grants its employees. Its compensation packages typically comprise of a base salary, a few stock units, and a cash bonus.
Despite the huge stock bonuses offered to some, life isn’t all sunshine and rainbows for other Apple employees. The company’s push to get its staff back to the campus in the midst of the pandemic rubbed some employees the wrong way. It soon changed its stance and delayed the deadline to work from the office. It even issued $1,000 bonuses to all corporate, retail, and technical support employees to purchase home workspace equipment, a few weeks back.