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Old Aug 26, 2011, 04:17 PM   #1
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Apple Awards Tim Cook 1,000,000 Shares of Stock as CEO Bonus






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

Last edited by WildCowboy; Aug 26, 2011 at 04:24 PM.
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Old Aug 26, 2011, 04:19 PM   #2
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Originally Posted by MacRumors View Post
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.
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Old Aug 26, 2011, 04:20 PM   #3
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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.
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Old Aug 26, 2011, 04:20 PM   #4
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If we could only all be so lucky to receive a bonus like that.
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Old Aug 26, 2011, 04:21 PM   #5
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I still want Steve back.....
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Old Aug 26, 2011, 04:22 PM   #6
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Tim deserves it, he is the CEO
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Old Aug 26, 2011, 04:22 PM   #7
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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.
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Old Aug 26, 2011, 04:22 PM   #8
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Quote:
Originally Posted by Mord View Post
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.
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Old Aug 26, 2011, 04:23 PM   #9
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Originally Posted by Mord View Post
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.
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Old Aug 26, 2011, 04:23 PM   #10
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Good for him, that's lots of cash but well spend on Tim.
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Old Aug 26, 2011, 04:23 PM   #11
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I wonder if he plans to take Steve's $1 salary?

Somehow I don't think he will.
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Old Aug 26, 2011, 04:24 PM   #12
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Originally Posted by Mord View Post
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.
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Old Aug 26, 2011, 04:24 PM   #13
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Now that would be an awesome surprise email to get
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Old Aug 26, 2011, 04:25 PM   #14
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Hopefully that turns into a billion dollars in no time.

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Originally Posted by Mord View Post
their shares are worth about 383 bucks, is it just me or is 1,000,000 x 383 not 383 odd million?
Good catch.
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Old Aug 26, 2011, 04:25 PM   #15
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Can I have 1%?
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Old Aug 26, 2011, 04:26 PM   #16
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He's earned it. May that continue.
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Old Aug 26, 2011, 04:26 PM   #17
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Yeah... 383 x 1,000,000 = 383,000,000... right??

Which part is wrong??
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Old Aug 26, 2011, 04:26 PM   #18
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wow! 380 million bucks is insane
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Old Aug 26, 2011, 04:26 PM   #19
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Tim doesn't seem like he has the same edginess that Steve has. I'm not all that excited with him as CEO.
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Old Aug 26, 2011, 04:27 PM   #20
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God bless Steve Jobs.

Quote:
Originally Posted by msb3079 View Post
Yeah... 383 x 1,000,000 = 383,000,000... right??

Which part is wrong??
They edited it. Originally stated 38.3M.
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Old Aug 26, 2011, 04:27 PM   #21
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What has surprised me the most is that Apple's stock hasnt tanked with all this news. It's currently up over $8/share.
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Last edited by OllyW; Aug 26, 2011 at 06:28 PM. Reason: clean up
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Old Aug 26, 2011, 04:28 PM   #22
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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.
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Old Aug 26, 2011, 04:31 PM   #23
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That's alright!
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Old Aug 26, 2011, 04:33 PM   #24
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He should use it to buy firearms for the poor.
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Old Aug 26, 2011, 04:34 PM   #25
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Originally Posted by sumone View Post
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.
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