Apple is giving stock bonuses to some engineers in order to prevent them from moving on to companies like Meta. The stock bonus of $50,000 to $180,000 for select engineers in Silicon design, hardware, software, and operations is unusual and significant.
Most engineers received stock worth $80,000 to $120,000, with the bonuses provided as restricted stock units that are set to vest over the course of four years if the employees stay with Apple and do not take jobs at other companies.
Apple compensation packages include a base salary, stock units and a cash bonus. The size of the latest stock grants were atypical and surprisingly timed, the people said. About 10% to 20% of engineers were given them.
Apple told managers that the bonuses could be given to engineers as a reward for high performers, and it's likely meant to keep companies like Facebook from recruiting high performers. Apple has hired some Meta employees.
Apple's augmented reality, artificial intelligence, and engineering divisions are being recruited by Meta. Meta is planning to launch a smart watch in the near future that will compete with the Apple Watch, and when Apple launches its planned augmented reality headset, it will compete with the Meta-owned virtual reality headsets.
