Apple continued a blitz of investment announcements on Wednesday with a stock-based compensation award for some employees.
The iPhone maker will grant $2,500 in restricted stock units over the coming months. Restricted stock units are valued in company stock, but vest over time. Apple's stock hit an all-time intraday high of $179.39 a share on Tuesday.
Bloomberg previously reported the news, citing anonymous sources. An email obtained by Axios said the stock awards would be available "to all individual contributors and management up to and including Senior Managers worldwide, [b]oth full-time and part-time."
It's not clear exactly how many employees that includes, or if new employees would be included. Nor is it clear when the award would vest, or whether the $2,500 sum is more or less than would usually be awarded to employees at that level. But the RSUs are likely to apply to most employees worldwide, including retail.
The stock awards follow Apple's announcement of a large-scale commitment to the U.S. economy, albeit thin on details. The company said it will add $350 billion in support of the U.S. economy over the next five years, with contributions from a new campus, payments to suppliers, job creation, capital expenditures, and taxes on overseas cash.
Here's an email from CEO Tim Cook, obtained by Axios:
This morning we announced a new set of investments Apple will be making over the next several years, including expanding some of our existing campuses and establishing a new one. We're also extending our efforts in support of coding education, ConnectED and STEAM programs. I encourage you to read about these announcements on AppleWeb.
I'm excited to let you know that we're also increasing our investment in our most important resource — our people. You are the heart and soul of Apple and we want you to share in the success made possible through your efforts. Your dedication helps Apple make the best products in the world, surprise and delight our customers, and ultimately make the world a better place.
To show our support for our team and our confidence in Apple's future, we'll be issuing a grant of $2,500 in restricted stock units to all individual contributors and management up to and including Senior Managers worldwide. Both full-time and part-time employees across all aspects of Apple's business are eligible. Details are available on AppleWeb.
We also know how much our employees value giving back to the communities where we all work and live. I'm happy to announce that starting immediately and running through the end of 2018, Apple will match all employee charitable donations, up to $10,000 annually, at a rate of two to one. In addition, Apple will double the amount we match for each hour you donate your time. Last year, your generosity helped people around the world through causes that are important to you. I'm proud that this year we'll be able to build on that tradition of giving.
Apple's success comes from our people and I am proud to work alongside each of you. On behalf of the Executive Team, thank you for your hard work and dedication.