New filings with the U.S. Securities and Exchange Commission show that Craig Federighi, Apple’s senior vice president of Mac Software Engineering, and Dan Riccio, Apple’s senior vice president of Hardware Engineering, were both given 75,000 shares of company stock as part of their promotions last week, notes “CNET”.

Those grants, currently worth US$50.62 million, vest at three separate points over the next four years. The first batch of 25,000 vests December 23, 2013, with the other two chunks of 25,000 vesting April 23, 2015 and Aug. 23, 2016 respectively. More info can be found at$50m-stock-perks/?part=rss&tag=feed&subj=News-Apple .

Last week Apple announced that Craig Federighi, Apple’s vice president of Mac Software Engineering (top photo), and Dan Riccio, Apple’s vice president of Hardware Engineering, have been promoted to senior vice presidents. Federighi and Riccio will report to Apple CEO Tim Cook and serve on Apple’s executive management team.

Apple has announced that Bob Mansfield, who announced his retirement in June, will remain at Apple. Mansfield will work on future products, reporting to Tim Cook.

As senior vice president of Mac Software Engineering, Federighi will continue to be responsible for the development of Mac OS X and Apple’s common operating system engineering teams. Federighi worked at NeXT, followed by Apple, and then spent a decade at Ariba where he held several roles including vice president of Internet Services and chief technology officer. He returned to Apple in 2009 to lead Mac OS X engineering. Federighi holds a Master of Science degree in Computer Science and a Bachelor of Science in Electrical Engineering and Computer Science from the University of California, Berkeley.

Riccio, as senior vice president of Hardware Engineering, will lead the Mac, iPhone, iPad and iPod engineering teams. He has been instrumental in all of Apple’s iPad products since the first generation iPad. Riccio joined Apple in 1998 as vice president of Product Design and has been a key contributor to most of Apple’s hardware over his career. Riccio earned a bachelor’s degree in Mechanical Engineering from the University of Massachusetts Amherst in 1986.