Tony Fadell, senior vice president of Appleis iPod division, landed a stock option grant earlier in December that is estimated to be worth US$9.22 million. A Securities and Exchange Commission filing showed that Mr. Fadell was granted 50,000 restricted stock units on December 17, according to Bloomberg.
Mr. Fadell was the first person to join Appleis iPod team in 2001, and was promoted to vice president of iPod engineering in 2004. He became senior vice president of the iPod division in April 2006.
Appleis iPod is considered the dominant portable media player and has sold nearly 120 million units since its launch in 2001. The iPod has grown from a 5GB music player into a full product line with movie player capabilities. The iPod touch, extends the iPod line by offering a touch screen interface and widescreen-style media viewing.
The iPod extended its reach into the cell phone market in 2007 with the launch of the iPhone -- Appleis combination iPod and smart phone. Like itis smaller cousin, the iPod touch, the iPhone sports a touch screen interface, Wi-Fi networking, and plays music and movies.
Mr. Fadell will have to wait until March 2010 before exercising his new stock options.
Apple is currently trading at $191.64, up 4.43 (2.37%).<!--#include virtual="/includes/newsite/series/stockwatch.shtml"-->