Former Burberry boss Angela Ahrendts collected some lovely welcoming gifts in her new role overseeing Apple’s retail operations — a compensation package valued at $73.4 million, according to regulatory filings.
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Since joining the company in May, Ahrendts collected some $70 million in stock grants from Apple — $37 million to compensate her for her for the value of the Burberry stock that she walked away from in accepting the Apple job, plus a new hire stock allocation valued at $33 million — 40 percent of which is performance based, and the rest vests over three years.
She also pocketed a $500,000 cash bonus and relocation expenses totaling $457,615.
Apple said it departed from its usual practice and extended Ahrendts a severance agreement that, upon termination, would pay a lump sum equivalent to the base salary she would have collected for the remainder of the three-year period.
The retail chief receives an annual salary of $1 million, plus bonuses, similar to that of other senior executives.
