Register FAQ / Rules Forum Spy Search Today's Posts Mark Forums Read
Go Back   MacRumors Forums > News and Article Discussion > Mac Blog Discussion

Reply
 
Thread Tools Search this Thread Display Modes
Old Aug 27, 2013, 07:48 PM   #1
MacRumors
macrumors bot
 
Join Date: Apr 2001
Tim Cook and Eddy Cue Receive Thousands of Shares of Apple Stock, Cue Nets Over $12M




Two Apple executives received vested restricted stock units (RSU) last week, according to documents filed with the SEC. Apple CEO Tim Cook received 72,877 shares of Apple stock as part of the RSU award from when he was promoted to CEO two years ago. However, earlier this year Apple's board decided to modify the award to be more performance based and this vesting was part of that process.

Cook had 38,028 shares of stock withheld for tax purposes, while the remaining 34,849 shares -- worth nearly $19.5 million -- he will continue to hold.

Senior Vice President Eddy Cue vested 50,000 shares with roughly half withheld for taxes and the other half sold for a net gain of roughly $12.4 million.

The RSU award is part of the 100,000 shares Cue received as a bonus when he was promoted to Senior Vice President of Internet Software and Services in 2011. Half of those shares vested on August 24, 2013 while the second half will vest two years later in 2015 if Cue is still with the company.

After the vesting, Tim Cook holds 87,316 shares of Apple stock worth more than $43 million at current prices. As of last winter, senior Apple executives and board members are required to hold multiples of their base salary in Apple stock. The company decided to implement that requirement to satisfy the concerns of some large institutional Apple stockholders including CALPERS, the California Public Employees' Retirement System.

A prior version of this article incorrectly stated that Tim Cook and Eddy Cue exercised stock options rather than receiving shares via vesting RSUs.

Article Link: Tim Cook and Eddy Cue Receive Thousands of Shares of Apple Stock, Cue Nets Over $12M
MacRumors is offline   0 Reply With Quote
Old Aug 27, 2013, 07:49 PM   #2
Some guy
macrumors member
 
Join Date: Apr 2013
Heh, that explains why AAPL is down today.
Some guy is offline   0 Reply With Quote
Old Aug 27, 2013, 07:51 PM   #3
chumawumba
Banned
 
Join Date: Aug 2012
Location: Ask the NSA
More like Tim órook
chumawumba is offline   3 Reply With Quote
Old Aug 27, 2013, 07:52 PM   #4
Klae17
macrumors 6502a
 
Join Date: Jul 2011
Yay performance benchmarks!
Klae17 is offline   1 Reply With Quote
Old Aug 27, 2013, 08:01 PM   #5
SixSlinger
macrumors regular
 
Join Date: Jun 2007
Location: Atlanta
Send a message via Yahoo to SixSlinger
Quote:
Originally Posted by chumawumba View Post
More like Tim órook
Why? Because he's wealthy? Did he steal from you or something?
__________________
-'11 cMBPro-15"Hi-Res,2.2GHz i7,16GB RAM,512GB SSD
-'12 MBAir 13"-1.8 GHz i5, 256 GB SSD, 4GB RAM
-iPhone 5s (32GB Space Grey), iPad Air (LTE 128GB Grey), iPad mini Retina (LTE 64GB Grey)
SixSlinger is offline   4 Reply With Quote
Old Aug 27, 2013, 08:03 PM   #6
1080p
In Time-Out
 
Join Date: Mar 2010
Location: Planet Earth
In before all the anti capitalism libs come in and declare that "No one deserves to make that much money."
1080p is offline   0 Reply With Quote
Old Aug 27, 2013, 08:04 PM   #7
Chupa Chupa
macrumors G3
 
Chupa Chupa's Avatar
 
Join Date: Jul 2002
Quote:
Originally Posted by Some guy View Post
Heh, that explains why AAPL is down today.
More likely the Syrian situation. Entire market fell today on war jitters: http://www.reuters.com/article/2013/...96S00E20130827

----------

Quote:
Originally Posted by SixSlinger View Post
Why? Because he's wealthy? Did he steal from you or something?
Clearly he stole the guys "c" key. And also because he thinks he's being original and ólever
__________________
Walled Garden ≠ Prison:
"People who use Apple products considered their options, and chose Apple. If they regret their decision, they can dump it at any time." -- Harry McCracken, Technologizer.com
Chupa Chupa is offline   3 Reply With Quote
Old Aug 27, 2013, 08:08 PM   #8
mbh
macrumors 6502
 
Join Date: Jul 2002
Quote:
Originally Posted by Some guy View Post
Heh, that explains why AAPL is down today.
AAPL traded 15.15 million shares today. I doubt Tim & Eddy made much of a difference. All the markets were down.
mbh is offline   2 Reply With Quote
Old Aug 27, 2013, 08:09 PM   #9
Klae17
macrumors 6502a
 
Join Date: Jul 2011
Quote:
Originally Posted by chumawumba View Post
More like Tim órook
You must make less than him.
Klae17 is offline   5 Reply With Quote
Old Aug 27, 2013, 08:21 PM   #10
scbn
macrumors regular
 
Join Date: Jul 2010
Cue's timing is almost perfect!
scbn is offline   0 Reply With Quote
Old Aug 27, 2013, 08:22 PM   #11
cleo1
macrumors regular
 
Join Date: Jul 2013
Quote:
Originally Posted by 1080p View Post
In before all the anti capitalism libs come in and declare that "No one deserves to make that much money."
Pro-captitalism lib here. Like Tim Cook, Steve Jobs... Oh wait. Apple is biggest, most successful co on planet and run by a bunch of San Francisco-living, Michelle Obama-guest of honor commies!

Your characterizations need work.
cleo1 is offline   0 Reply With Quote
Old Aug 27, 2013, 08:54 PM   #12
cleo1
macrumors regular
 
Join Date: Jul 2013
Quote:
Originally Posted by scbn View Post
Cue's timing is almost perfect!
Missed a cheesy pun opportunity there.
cleo1 is offline   0 Reply With Quote
Old Aug 27, 2013, 09:03 PM   #13
IJ Reilly
macrumors P6
 
IJ Reilly's Avatar
 
Join Date: Jul 2002
Location: Palookaville
Quote:
Originally Posted by 1080p View Post
In before all the anti capitalism libs come in and declare that "No one deserves to make that much money."
Before the ideologues come in and try to explain everything in whatever way suits their views.

Too late.
__________________
*The season starts too early and finishes too late and there are too many games in between.
Bill Veeck
IJ Reilly is offline   0 Reply With Quote
Old Aug 27, 2013, 09:06 PM   #14
chumawumba
Banned
 
Join Date: Aug 2012
Location: Ask the NSA
Quote:
Originally Posted by Klae17 View Post
You must make less than him.
Yeah I don't know a whole lot of people with a salary of 4.2 Million.
chumawumba is offline   0 Reply With Quote
Old Aug 27, 2013, 09:41 PM   #15
carbonrain
macrumors newbie
 
Join Date: Jul 2011
Location: Philadelphia
Yea, it wouldn't look too good if the CEO of one of the largest international corporations (ever) started cashing-in shares during an innovative dry spell.
carbonrain is offline   0 Reply With Quote
Old Aug 27, 2013, 09:53 PM   #16
cleo1
macrumors regular
 
Join Date: Jul 2013
Quote:
Originally Posted by xmaseve View Post
Seconded.
A single anti-capitalism lib yet to materialize, yet plenty of anticipation. Sure this isn't an infectious case of 'spot it / got it'?
cleo1 is offline   0 Reply With Quote
Old Aug 27, 2013, 10:07 PM   #17
appleisking
macrumors 6502a
 
Join Date: May 2013
I never understand why comments are opened on these kinds of news stories or why they are even posted for that matter.
appleisking is offline   2 Reply With Quote
Old Aug 27, 2013, 10:20 PM   #18
Mackan
macrumors 65816
 
Join Date: Sep 2007
Quote:
Originally Posted by 1080p View Post
In before all the anti capitalism libs come in and declare that "No one deserves to make that much money."
Well, greed is humanity's downfall. Capitalism encourage greed, and is in many cases driven by greed.

There. Couldn't let this thread go without an 'anti capitalism lib'.
Mackan is offline   0 Reply With Quote
Old Aug 27, 2013, 10:41 PM   #19
xmaseve
macrumors regular
 
Join Date: Oct 2007
Quote:
Originally Posted by Mackan View Post
Well, greed is humanity's downfall. Capitalism encourage greed, and is in many cases driven by greed.

There. Couldn't let this thread go without an 'anti capitalism lib'.
Google Milton Friedman and watch some of his videos...start with this one about a simple pencil:

http://m.youtube.com/watch?v=R5Gppi-O3a8&desktop_uri=%2Fwatch%3Fv%3DR5Gppi-O3a8
xmaseve is offline   0 Reply With Quote
Old Aug 27, 2013, 10:42 PM   #20
mac 2005
macrumors 6502a
 
mac 2005's Avatar
 
Join Date: Apr 2005
Location: Chicago
Quote:
Originally Posted by appleisking View Post
I never understand why comments are opened on these kinds of news stories or why they are even posted for that matter.
Page views, my friend. The more opportunities people are given to post, the more they will post -- and the more pages people will read. The more page views, the more revenue for the site.

I also question why comments are permitted for these posts.
__________________
They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety.

Last edited by mac 2005; Aug 28, 2013 at 10:28 AM.
mac 2005 is offline   0 Reply With Quote
Old Aug 27, 2013, 10:45 PM   #21
jonnysods
macrumors 68030
 
Join Date: Sep 2006
Location: Aussie living in Canada
Wow, drinks are on Tim.
jonnysods is offline   0 Reply With Quote
Old Aug 28, 2013, 12:35 AM   #22
jlgolson
Editor
 
jlgolson's Avatar
 
Join Date: Jun 2011
Location: Durango, CO
Send a message via AIM to jlgolson
Quote:
Originally Posted by mac 2005 View Post
I question the relevance of the news to a Mac-focused rumors site. Sidebar maybe. Page 2 sure. But the legal exercise of awarded stock options simply doesn't inform us about product and technology developments at Apple. I think it should not be Page 1.
It is on the sidebar -- the Mac Blog. If you view it on a mobile device, it shows inline with the front page for space reasons.
jlgolson is offline   1 Reply With Quote
Old Aug 28, 2013, 01:58 AM   #23
vpro
macrumors 6502a
 
vpro's Avatar
 
Join Date: Jun 2012
Very - very good point..

Quote:
Originally Posted by appleisking View Post
I never understand why comments are opened on these kinds of news stories or why they are even posted for that matter.
Most dignified richy richs out there like to stay anonymous because it is really taboo to talk about one's wealth etc. I guess as a rumors sight we the views / participants don't get a say what is reported on, but we are policed on what we post? I dunno. Some people love tabloid news and news about the rich, and famous? I personally couldn't care less. So CEOs make crazy amounts of money, is that news? Good news would be "World Hunger Ended".
__________________
15" 2.8Ghz 16GB, 1TB|17" 2.5Ghz 16GB, 520GB SSD+980GB RAID|Mac Pro 3.0GHz 32GB, 1TB
vpro is offline   0 Reply With Quote
Old Aug 28, 2013, 02:23 AM   #24
Mactendo
macrumors 6502
 
Join Date: Oct 2012
Sounds as he receives shares non-stop.
Mactendo is offline   0 Reply With Quote
Old Aug 28, 2013, 03:26 AM   #25
macchiato2009
macrumors 65816
 
Join Date: Aug 2009
So happy for Tim...

in the meantime, nothing for Apple Store specialists working their a$$ off....
macchiato2009 is offline   0 Reply With Quote

Reply
MacRumors Forums > News and Article Discussion > Mac Blog Discussion

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Similar Threads
thread Thread Starter Forum Replies Last Post
Eddy Cue: Best Product Pipeline in 25 Years Coming Later This Year From Apple MacRumors MacRumors.com News Discussion 119 Sep 9, 2014 08:52 AM
Apple Execs Eddy Cue and Craig Federighi to Speak at Code Conference in May MacRumors MacRumors.com News Discussion 25 Apr 30, 2014 09:56 AM
Apple SVP of Internet Software and Services Eddy Cue Cashes in $8.8 Million in Stock MacRumors Mac Blog Discussion 37 Dec 19, 2012 03:22 AM
Apple Fires Manager Responsible for Maps as Eddy Cue Turns to Outsiders for Help MacRumors MacRumors.com News Discussion 406 Dec 13, 2012 10:25 AM
Apple's 'Master Negotiator and Product Resuscitator' Eddy Cue Profiled MacRumors MacRumors.com News Discussion 71 Nov 5, 2012 09:49 AM

Forum Jump

All times are GMT -5. The time now is 01:05 PM.

Mac Rumors | Mac | iPhone | iPhone Game Reviews | iPhone Apps

Mobile Version | Fixed | Fluid | Fluid HD
Copyright 2002-2013, MacRumors.com, LLC