Apple's CFO says see you in Sept., after 100,000 shares vest

March 4, 2014: 10:22 AM ET

During Peter Oppenheimer's tenure, Apple's revenue increased more than 20-fold.


Oppenheimer testifying before a Senate subcommittee. Photo: Getty

FORTUNE -- You can't say Peter Oppenheimer didn't earn his keep. During his tenure as Apple's (AAPL) chief financial officer, the company's annual revenue grew from $8 billion in 2004 to $171 billion in 2013.

But he's not leaving empty handed. He earned $2.6 million in 2013, and we still remember the day four years ago that 200,000 of his Apple restricted stock units kicked in and he cleared $46 million.

According to Apple's latest proxy statement, Oppenheimer, 51, still has 175,000 unvested RSUs, 75,000 of which won't have any value unless he sticks around until March 2016. The other 100,000 -- worth $53 million at Tuesday's opening price -- vest on Sept. 21, 2014.

Oppenheimer will retire at the end of September, according to Apple's Tuesday morning press releaseFrom now until June, he will "transition the CFO role." And after that? He will pass on "the balance of his responsibilities over the remaining time allowing for a professional and seamless transition."

As NBC's Jon Fortt points out, there's an unusual level of detail in Apple's press release. Perhaps, Fortt tweets, "So no one gets the wrong idea."



The new CFO, Luca Maestri, came to Apple 12 months ago with 25 years of experience in international finance, most recently at Xerox and Nokia, but most of it at General Motors (GM).

"When we were recruiting for a corporate controller," said Tim Cook, "we met Luca and knew he would become Peter's successor."

Maestri was offered nearly 40,000 RSUs when he joined the company.

LINK: Apple's Peter Oppenheimer to Retire at the End of September

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