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


    Apr 12, 2001

    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

    Apr 12, 2013
    Heh, that explains why AAPL is down today.
  3. macrumors 6502


    Aug 9, 2012
    Ask the NSA
    More like Tim ¢rook
  4. macrumors 6502a


    Jul 15, 2011
    Yay performance benchmarks!
  5. macrumors regular

    Jun 28, 2007
    Why? Because he's wealthy? Did he steal from you or something?
  6. macrumors 68000


    Mar 17, 2010
    Planet Earth
    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

    Jul 16, 2002
    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

    Jul 18, 2002
    AAPL traded 15.15 million shares today. I doubt Tim & Eddy made much of a difference. All the markets were down.
  9. macrumors 6502a


    Jul 15, 2011
    You must make less than him.
  10. macrumors 6502


    Jul 25, 2010
    Cue's timing is almost perfect! :)
  11. macrumors regular

    Jul 16, 2013
    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

    Jul 16, 2013
    Missed a cheesy pun opportunity there.
  13. macrumors P6

    IJ Reilly

    Jul 16, 2002
    Before the ideologues come in and try to explain everything in whatever way suits their views.

    Too late.
  14. macrumors 6502


    Aug 9, 2012
    Ask the NSA
    Yeah I don't know a whole lot of people with a salary of 4.2 Million.
  15. macrumors newbie


    Jul 28, 2011
    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

    Jul 16, 2013
    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

    May 24, 2013
    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

    Sep 16, 2007
    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

    Oct 24, 2007
    Google Milton Friedman and watch some of his videos...start with this one about a simple pencil:

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

    macrumors 6502a

    mac 2005

    Apr 1, 2005
    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

    Sep 20, 2006
    Aussie living in Canada
    Wow, drinks are on Tim.
  22. Contributing Editor


    Jun 2, 2011
    Durango, CO
    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


    Jun 8, 2012
    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

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

    Aug 14, 2009
    So happy for Tim...

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

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