Apple Awards Tim Cook 1,000,000 Shares of Stock as CEO Bonus

MacRumors · 04:24 PM

Apple filed a form 8-K with the SEC because of the changes in corporate leadership at the company. An 8-K is the "current report" companies must file with the SEC to announce major events that shareholders should know about.

In this case, the form notifies investors of the resignation of Steve Jobs as CEO; Jobs' appointment as Chairman of the Board; COO Tim Cook's promotion to CEO; and the appointment of Cook to the Board.

Additionally:

Quote:

In connection with Mr. Cook's appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units. Fifty percent of the restricted stock units are scheduled to vest on each of August 24, 2016 and August 24, 2021, subject to Mr. Cook's continued employment with Apple through each such date.

This stock award is worth just over $383 million at current prices.

Article Link: Apple Awards Tim Cook 1,000,000 Shares of Stock as CEO Bonus

matbook101 · Aug 26, 2011, 04:19 PM

Quote:

Originally Posted by MacRumors

Image

Image

Apple filed a form 8-K with the SEC because of the changes in corporate leadership at the company. An 8-K is the "current report" companies must file with the SEC to announce major events that shareholders should know about.

In this case, the form notifies investors of the resignation of Steve Jobs as CEO; Jobs' appointment as Chairman of the Board; COO Tim Cook's promotion to CEO; and the appointment of Cook to the Board.

Additionally:
This stock award is worth just over $38.3 million at current prices.

Article Link: Apple Awards Tim Cook 1,000,000 Shares of Stock as CEO Bonus

Wow. I wish I had that much.

Mord · 02:01 AM

Their shares are worth about 383 bucks, is it just me or is 1,000,000 x 383 not 383 odd million?

edit: I see it's fixed now

benh911f · Aug 26, 2011, 04:20 PM

If we could only all be so lucky to receive a bonus like that.

adcx64 · Aug 26, 2011, 04:21 PM

I still want Steve back.....

g4 powerbookboy · Aug 26, 2011, 04:22 PM

Tim deserves it, he is the CEO

matbook101 · Aug 26, 2011, 04:22 PM

Quote:

Originally Posted by benh911f

If we could only all be so lucky to receive a bonus like that.

Yeah, and have the amazing job of getting all of apples products 6 months early. Oh I mean CEO.

jlgolson · Aug 26, 2011, 04:22 PM

Quote:

Originally Posted by Mord

their shares are worth about 383 bucks, is it just me or is 1,000,000 x 383 not 383 odd million?

You're right, my math skills fail me.

jswright2005 · Aug 26, 2011, 04:23 PM

Quote:

Originally Posted by Mord

their shares are worth about 383 bucks, is it just me or is 1,000,000 x 383 not 383 odd million?

Yeah...I thought the same thing. Not the best math in the post.

gugy · Aug 26, 2011, 04:23 PM

Good for him, that's lots of cash but well spend on Tim.

ArcaneDevice · Aug 26, 2011, 04:23 PM

I wonder if he plans to take Steve's $1 salary?

Somehow I don't think he will.

guerro · Aug 26, 2011, 04:24 PM

Quote:

Originally Posted by Mord

their shares are worth about 383 bucks, is it just me or is 1,000,000 x 383 not 383 odd million?

I was thinking the same.

redkamel · Aug 26, 2011, 04:24 PM

Now that would be an awesome surprise email to get

Consultant · Aug 26, 2011, 04:25 PM

Hopefully that turns into a billion dollars in no time.

Quote:

Originally Posted by Mord

their shares are worth about 383 bucks, is it just me or is 1,000,000 x 383 not 383 odd million?

Good catch.

ECUpirate44 · Aug 26, 2011, 04:25 PM

Can I have 1%?

*LTD* · Aug 26, 2011, 04:26 PM

He's earned it. May that continue.

msb3079 · Aug 26, 2011, 04:26 PM

Yeah... 383 x 1,000,000 = 383,000,000... right??

Which part is wrong??

Apple OC · Aug 26, 2011, 04:26 PM

wow! 380 million bucks is insane

sumone · Aug 26, 2011, 04:26 PM

Tim doesn't seem like he has the same edginess that Steve has. I'm not all that excited with him as CEO.

DrJohnnyN · Aug 26, 2011, 04:27 PM

God bless Steve Jobs.

Quote:

Originally Posted by msb3079

Yeah... 383 x 1,000,000 = 383,000,000... right??

Which part is wrong??

They edited it. Originally stated 38.3M.

TwitchOSX · 06:28 PM

What has surprised me the most is that Apple's stock hasnt tanked with all this news. It's currently up over $8/share.

BRLawyer · Aug 26, 2011, 04:28 PM

I had ALREADY deleted the link, moderators...there is no need to erase my message as well.

Thank you for everything, Steve..! Once more, may God bless you and your loved ones...the world is a better place with your contribution.

andreiru · Aug 26, 2011, 04:31 PM

That's alright!

Bonch · Aug 26, 2011, 04:33 PM

He should use it to buy firearms for the poor.

rdowns · Aug 26, 2011, 04:34 PM

Quote:

Originally Posted by sumone

Tim doesn't seem like he has the same edginess that Steve has. I'm not all that excited with him as CEO.

Edgy Steve Jobs apparently is.

Aug 26, 2011, 04:20 PM	#3
Mord macrumors Demi-Goddess Join Date: Aug 2003 Location: Old York	Their shares are worth about 383 bucks, is it just me or is 1,000,000 x 383 not 383 odd million? edit: I see it's fixed now Last edited by Mord; Aug 27, 2011 at 02:01 AM.
	10

Aug 26, 2011, 04:21 PM	#5
adcx64 macrumors 65816 Join Date: Nov 2008 Location: Cudi Zone	I still want Steve back..... __________________ iPhone 5, iOS 7, Verizon LTE MacBook Air, OS X Mavericks PlayStation 3 320GB
	16

Aug 26, 2011, 04:22 PM	#6
g4 powerbookboy macrumors regular Join Date: Aug 2010	Tim deserves it, he is the CEO
	-17

Aug 26, 2011, 04:23 PM	#10
gugy macrumors 68000 Join Date: Jan 2005 Location: La Jolla, CA	Good for him, that's lots of cash but well spend on Tim. __________________ MacPro 2.66 12 Core, 30" and 23" ACDs, MacBook Pro 2.2, MacBook, iPod 1G-5G, Shuffle 2G, iPhone 3G/4S
	-8

Aug 26, 2011, 04:24 PM	#13
redkamel macrumors 6502 Join Date: Aug 2006	Now that would be an awesome surprise email to get __________________ bring back the Cube!
	2

Aug 26, 2011, 04:20 PM	#4
benh911f macrumors 6502 Join Date: Mar 2009	If we could only all be so lucky to receive a bonus like that.
	1

Aug 26, 2011, 04:23 PM	#11
ArcaneDevice macrumors 6502a Join Date: Nov 2003 Location: outside the crazy house, NC	I wonder if he plans to take Steve's $1 salary? Somehow I don't think he will.
	16

Aug 26, 2011, 04:25 PM	#15
ECUpirate44 Banned Join Date: Mar 2010 Location: NC	Can I have 1%?
	6

Aug 26, 2011, 04:26 PM	#16
LTD Banned Join Date: Feb 2009 Location: Canada	He's earned it. May that continue.
	-6

Aug 26, 2011, 04:26 PM	#17
msb3079 macrumors 6502a Join Date: Apr 2010 Location: collingswood. nj	Yeah... 383 x 1,000,000 = 383,000,000... right?? Which part is wrong?? __________________ www.twitter.com/michaelsburke
	-3

Aug 26, 2011, 04:26 PM	#18
Apple OC Contributor Join Date: Oct 2010 Location: Toronto	wow! 380 million bucks is insane __________________ one Stupid Blog
	5

Aug 26, 2011, 04:26 PM	#19
sumone macrumors regular Join Date: Mar 2011	Tim doesn't seem like he has the same edginess that Steve has. I'm not all that excited with him as CEO.
	7

Aug 26, 2011, 04:27 PM	#21
TwitchOSX macrumors 6502 Join Date: May 2002 Location: Southern Oregon	What has surprised me the most is that Apple's stock hasnt tanked with all this news. It's currently up over $8/share. __________________ Fat chicks need lovin too... they just have to pay Dual 2.4 4 core Mac Pro (8 cores total) \| 1tb hd \| 8gb Ram \| 27" LED Apple Cinema Diplay (Main) \| 2nd 27" ViewSonic LCD Last edited by OllyW; Aug 26, 2011 at 06:28 PM. Reason: clean up
	0

Aug 26, 2011, 04:28 PM	#22
BRLawyer macrumors 601 Join Date: Apr 2005 Location: Currently in Switzerland	I had ALREADY deleted the link, moderators...there is no need to erase my message as well. Thank you for everything, Steve..! Once more, may God bless you and your loved ones...the world is a better place with your contribution. __________________ iMac 27" Core i7 3.4GHz, 16GB RAM, 2GB GPU, 120GB SSD+4TB HD, Bowers & Wilkins 685, Nuforce Icon HDP, OS X 10.8.3; iPad 3 Wi-Fi+4G 64GB; iPhone 5 White 32GB.
	1

Aug 26, 2011, 04:31 PM	#23
andreiru macrumors regular Join Date: Apr 2008	That's alright!
	2

Aug 26, 2011, 04:33 PM	#24
Bonch Banned Join Date: May 2005 Location: Lithuania	He should use it to buy firearms for the poor.
	-4

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