Become a MacRumors Supporter for $25/year with no ads, private forums, and more!

MacRumors

macrumors bot
Original poster
Apr 12, 2001
54,691
16,876



timcook.jpg
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
 

Chupa Chupa

macrumors G5
Jul 16, 2002
14,834
7,395

cleo1

macrumors regular
Jul 16, 2013
141
0
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.
 

carbonrain

macrumors member
Jul 28, 2011
33
27
Austin, TX
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.
 

appleisking

macrumors 6502a
May 24, 2013
658
3,022
I never understand why comments are opened on these kinds of news stories or why they are even posted for that matter.
 

Mackan

macrumors 65816
Sep 16, 2007
1,400
73
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'.
 

xmaseve

macrumors regular
Oct 24, 2007
111
1
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
 

mac 2005

macrumors 6502a
Apr 1, 2005
771
81
Chicago
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.
 
Last edited:

jlgolson

Contributing Editor
Jun 2, 2011
379
4
Durango, CO
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.
 

vpro

macrumors 65816
Jun 8, 2012
1,195
65
Very - very good point..

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".
 
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.