Apple CEO Tim Cook Set to Reap Nearly $100 Million in Vesting Stock This Quarter

[MacRumors]

The Wall Street Journal reports that data from executive compensation tracking firm Equilar shows Apple CEO Tim Cook set to see a major windfall during the first quarter of 2012 with the vesting of two separate restricted stock unit grants currently valued at nearly $100 million.

Of all the Silicon Valley executives who have a vesting event scheduled for the first quarter of 2012, the one who stands to reap the most is Apple Inc. Chief Executive Tim Cook, the study found.

Mr. Cook has portions of two restricted-stock-unit grants--including one he received for filling in for Steve Jobs when the co-founder was on medical leave--vesting in the first quarter. As of Apple's closing stock price on Dec 30, those vesting shares of Mr. Cook's were worth $96.2 million, according to the study.

The majority of the amount comes from a grant of 200,000 restricted stock units awarded to Cook in September 2008 as part of a package of retention bonuses paid out to Apple executives. That grant will vest on March 24th and is worth $83 million at today's stock price.

The remaining portion comes from a grant awarded in March 2010 in recognition of Cook's service while Steve Jobs was on a medical leave of absence during the first half of 2009. That bonus included $5 million in cash and 75,000 restricted stock units. The second half of those stock units, worth $15.5 million at today's stock price, will vest on March 10th. The first portion of that grant vested on March 10th of last year and would have brought Cook approximately $13 million.

The vesting stock is separate from an award of one million share units given to Cook as he officially took on the role of CEO. That grant is worth $415 million at today's stock price, but will not vest for a number of years. Cook will receive half of the shares in 2016 and the remainder in 2021, with both events contingent upon Cook remaining CEO of Apple.

Article Link: Apple CEO Tim Cook Set to Reap Nearly $100 Million in Vesting Stock This Quarter

 

[rmwebs]

Cha-ching!

I guess the drinks are on Tim tonight then!

IMO he deserves it - he's made notable change for the good over the last few months.

 

[MacSince1990]

That's quite a bit of money.

 

[talkingfuture]

Nice work if you can get it.

 

[MacSince1990]

IMO he deserves it - he's made notable change for the good over the last few months.

So has Mandella... but I don't recall him being compensated with the equivalent of the average lifetime earnings of 100 Americans for three months of work >_>

 

[slrandall]

And he's worth it, too.

So has Mandella... but I don't recall him being compensated with the equivalent of the average lifetime earnings of 100 Americans for three months of work >_>

If you read the article, it's stock from 2008. Also, his work is a bit more difficult than the average American's.

 

[soco]

So has Mandella... but I don't recall him being compensated with the equivalent of the average lifetime earnings of 100 Americans for three months of work >_>

Pfft, Mandella shmandella. He never gave me an antenna with spatial diversity. Besides, I'm more concerned with the next Angry Birds.

#firstworldpriorities

 

[MacSince1990]

And he's worth it, too.



If you read the article, it's stock from 2008. Also, his work is a bit more difficult than the average American's.

It's more difficult, sure.. but it isn't several orders of magnitude more difficult. I have to admit the way people like you deify the work of people like Cook is fairly amusing... what they do isn't all that difficult; you just need to be intelligent, diligent, and well-versed in your area of expertise.

There are hundreds of thousands (likely millions) of Americans who could do what Tim does.

 

[kjs862]

I don't think anyone deserves that much money. Now matter how good of a job they do, or what they do. It's simply too much for one person.

 

[slrandall]

It's more difficult, sure.. but it isn't several orders of magnitude more difficult. I have to admit the way people like you deify the work of people like Cook is fairly amusing... what they do isn't all that difficult; you just need to be intelligent, diligent, and well-versed in your area of expertise.

There are hundreds of thousands (likely millions) of Americans who could do what Tim does.

Well, Apple thinks differently than you do about Tim Cook then. And it's their money to spend, not yours.

 

[basesloaded190]

It's more difficult, sure.. but it isn't several orders of magnitude more difficult. I have to admit the way people like you deify the work of people like Cook is fairly amusing... what they do isn't all that difficult; you just need to be intelligent, diligent, and well-versed in your area of expertise.

There are hundreds of thousands (likely millions) of Americans who could do what Tim does.

You had me until there.

 

[uknowimright]

so then all the oil execs deserve their money, right?

 

[MacSince1990]

Well, Apple thinks differently than you do about Tim Cook then. And it's their money to spend, not yours.

Apple is an entity made up of many people, it's not a sentient being.

And given that Tim's basically in charge he um... can kind of write his own paychecks.

Also keep in mind that Apple doesn't necessarily think any differently than I do at all; their reasons for paying him don't necessarily have anything to do with "how hard" they think the work he does is.

And technically, given I own a few hundred shares of Apple... some of it's my money

 

[rmwebs]

So has Mandella... but I don't recall him being compensated with the equivalent of the average lifetime earnings of 100 Americans for three months of work >_>

Put some thought into your argument next time you want to troll...

If a former president was seen to be taking that kind of money from their government, it would be considered stealing. When you work for a company that makes money because of your actions, you're given part of that money as a shareholder. He's not being given $100m directly, he's earnt it because he owns shares.

How and where did Mandella come into this? You could list off hundreds of different 'great people' it doesnt make this any different. Do you expect leaders of all big businesses to work for free? Whilst we're at it, why not make actors work for free, or record producers....heck lets force Apple to give all its money to charity.

 

[MacSince1990]

You had me until there.

There are 300,000,000 Americans. You really don't think that 1 in 10,000 (conservatively) has the potential to do what he does? Just because someone's a doctor, or a lawyer, or a musician or an artist or a professor doesn't mean they're incapable of being exceptionally good at anything else.

 

[soco]

Apple is an entity made up of many people, it's not a sentient being.

And given that Tim's basically in charge he um... can kind of write his own paychecks.

Also keep in mind that Apple doesn't necessarily think any differently than I do at all; their reasons for paying him don't necessarily have anything to do with "how hard" they think the work he does is.

And technically, given I own a few hundred shares of Apple... some of it's my money

Kind of contradictary. If investors and shareholders like yourself thought this was really so crazy, it wouldn't happen. So yes, Apple is not a sentient being, but Tim is not "basically in charge" even though he calls a lot of shots. There's one hell of a hierarchy in place, and it's used every time something like this happens.

 

[rmwebs]

I don't think anyone deserves that much money. Now matter how good of a job they do, or what they do. It's simply too much for one person.

Given Cook's recent changes to the company were mostly about giving to charity, I'd fully expect that most of this will be going into some form of charitable organisation when/if he cashes it out.

 

[BoxMacCary]

Tmi ....

I'm not fortunate enough to have Tim's aquaintance, but I'm pretty sure it'd be reasonable to assume he'd rather not have it blasted out there
that he's about to collect on a $100M payday, whether it's a "matter of public record" or not.

I'm sure none of us'd want that news out there, either.

 

[basesloaded190]

There are 300,000,000 Americans. You really don't think that 1 in 10,000 (conservatively) has the potential to do what he does? Just because someone's a doctor, or a lawyer, or a musician or an artist or a professor doesn't mean they're incapable of being exceptionally good at anything else.

Just so I am clear, you are saying there are 100,000 people in America that could run the world's most valuable company?

 

[WatchTheThrone]

Wirelessly posted (Mozilla/5.0 (iPhone; CPU iPhone OS 5_0_1 like Mac OS X) AppleWebKit/534.46 (KHTML, like Gecko) Version/5.1 Mobile/9A405 Safari/7534.48.3)

Why can't we be happy for someone doing good in this country right now??
Apple is killing every other company in the world right now they seem unstoppable so I think he deserves this money since he earned it because it's stock from 2008!! It's not like other execs who just get money from one day to another for no reason!!
I'm with some of you saying some bank execs getting million dollar bonuses is ridiculous specially how they bet against their own customers and screwed up the economy but if banks were banking like they should and also got restricted stocks which took years of good work to get I wouldn't be against that either!! Either way keep up the good work Timmy make Steve proud!!

 

[kjs862]

Given Cook's recent changes to the company were mostly about giving to charity, I'd fully expect that most of this will be going into some form of charitable organisation when/if he cashes it out.

That's really besides the point. But let's hope you're correct.

 

[ramuman]

There are 300,000,000 Americans. You really don't think that 1 in 10,000 (conservatively) has the potential to do what he does? Just because someone's a doctor, or a lawyer, or a musician or an artist or a professor doesn't mean they're incapable of being exceptionally good at anything else.

That's not a logical argument. By that token, you can make any number of other similar comments. 1 in 10,000 people could hit a ball as well as Pujols or 1 in 10,000 people could be as good a mathematician as Terry Tao.

We know that's not the case because most people that actually professionally play baseball or practice math aren't nearly as good.

You can't just pick an arbitrary fraction and apply that to prove your point. At the end of the day, Tim Cook runs the largest company formed in the last 100 years. The founder of that company had enough faith to put his creation in the hands of Tim Cook on three separate occasions.

...also what's this no-one deserves that money argument and bringing up arbitrary figures?

Since you own shares, vote to make changes in the board's compensation committee.

 

[mailhojo]

What to do with all that money?

How about helping out the schools in California and creating a foundation to increase the adoption of high speed wireless internet in schools along with updated equipment?

 

[nazaar]

give me a better iOS with widgets and more customization AND a new iPhone with real 4G functionality and a bigger screen and he can have all the millions he wants.

 

[Thunderhawks]

So has Mandella... but I don't recall him being compensated with the equivalent of the average lifetime earnings of 100 Americans for three months of work >_>

If you figure in Mother Theresa , the world is an unfair place.