- Apr 12, 2001
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.
This stock award is worth just over $383 million at current prices.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.
Article Link: Apple Awards Tim Cook 1,000,000 Shares of Stock as CEO Bonus
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