Welcome

Apple General Counsel Adams Earned $25.2 Million in 2019

Jan. 3, 2020, 11:30 PM

Apple Inc. general counsel Katherine Adams earned more than $25.2 million in total compensation during 2019, down slightly from a year earlier, according to a preliminary proxy statement filed Jan. 3.

Adams, who joined Apple in late 2017, receives $1 million in annual cash compensation under her employment contract. The bulk of her compensation comes in the form of restricted stock awards in the Cupertino, Calif.-based consumer electronics and software company. Adams’ compensation includes relocation assistance to move to California from New York.

In 2018, her compensation totaled $26.7 million in 2018, including $884,615 in salary due to Apple’s shortened fiscal year.

Adams replaced the retiring Bruce Sewell as the company’s general counsel, having previously spent 14 years in-house at Honeywell International Inc., the last eight of which she served as its in-house legal chief. Before that Adams spent a decade at Sidley Austin, where she was an associate and partner.

Another top tech in-house lawyer started 2020 with a sizable payday. Alphabet Inc. chief legal officer David Drummond, who closed out 2019 by unloading $145 million in Google stock, sold off another $77 million in stock on Jan. 2, according to a Form 4 securities filing.

Bloomberg data shows that despite his recent string of divestitures, Drummond still owns shares in the Mountain View, Calif.-based internet search leader valued at roughly $68.73 million, while Adams owns Apple stock valued at $6.56 million.

Drummond did not respond to a request for comment and a similar request left for Adams through Apple’s public relations department was not immediately returned.

To contact the reporter on this story: Brian Baxter in New York at bbaxter@bloomberglaw.com

To contact the editor responsible for this story: Seth Stern at sstern@bloomberglaw.com

To read more articles log in.

Learn more about a Bloomberg Law subscription.