Tim Cook and Eddy Cue Receive Thousands of Shares of Apple Stock, Cue Nets Over $12M

Discussion in 'Mac Blog Discussion' started by MacRumors, Aug 27, 2013.

  1. macrumors bot

    MacRumors

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    #1
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    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
     
  2. macrumors member

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    #2
    Heh, that explains why AAPL is down today.
     
  3. macrumors 6502

    chumawumba

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    #3
    More like Tim ¢rook
     
  4. macrumors 6502a

    Klae17

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    #4
    Yay performance benchmarks!
     
  5. macrumors regular

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    Atlanta
    #5
    Why? Because he's wealthy? Did he steal from you or something?
     
  6. macrumors 68000

    1080p

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    #6
    In before all the anti capitalism libs come in and declare that "No one deserves to make that much money."
     
  7. macrumors G4

    Chupa Chupa

    Joined:
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    #7
    More likely the Syrian situation. Entire market fell today on war jitters: http://www.reuters.com/article/2013/08/27/us-markets-global-idUSBRE96S00E20130827

    ----------

    Clearly he stole the guys "c" key. And also because he thinks he's being original and ¢lever :D
     
  8. mbh
    macrumors 6502

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    #8
    AAPL traded 15.15 million shares today. I doubt Tim & Eddy made much of a difference. All the markets were down.
     
  9. macrumors 6502a

    Klae17

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    #9
    You must make less than him.
     
  10. macrumors 6502

    scbn

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    #10
    Cue's timing is almost perfect! :)
     
  11. macrumors regular

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    Jul 16, 2013
    #11
    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.
     
  12. macrumors regular

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    #12
    Missed a cheesy pun opportunity there.
     
  13. macrumors P6

    IJ Reilly

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    #13
    Before the ideologues come in and try to explain everything in whatever way suits their views.

    Too late.
     
  14. macrumors 6502

    chumawumba

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    #14
    Yeah I don't know a whole lot of people with a salary of 4.2 Million.
     
  15. macrumors newbie

    carbonrain

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    #15
    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.
     
  16. macrumors regular

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    #16
    A single anti-capitalism lib yet to materialize, yet plenty of anticipation. Sure this isn't an infectious case of 'spot it / got it'?
     
  17. macrumors 6502a

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    #17
    I never understand why comments are opened on these kinds of news stories or why they are even posted for that matter.
     
  18. macrumors 65816

    Joined:
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    #18
    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'.
     
  19. macrumors regular

    Joined:
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    #19
    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
     
  20. mac 2005, Aug 27, 2013
    Last edited: Aug 28, 2013

    macrumors 6502a

    mac 2005

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    #20
    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.
     
  21. macrumors 68030

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    #21
    Wow, drinks are on Tim.
     
  22. Contributing Editor

    jlgolson

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    #22
    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.
     
  23. macrumors 65816

    vpro

    Joined:
    Jun 8, 2012
    #23
    Very - very good point..

    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".
     
  24. macrumors 6502a

    Joined:
    Oct 3, 2012
    #24
    Sounds as he receives shares non-stop.
     
  25. macrumors 65816

    Joined:
    Aug 14, 2009
    #25
    So happy for Tim...

    in the meantime, nothing for Apple Store specialists working their a$$ off.... :rolleyes:
     

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