For all staff? interesting. I might employ the same logic. No one gets paid if we make a loss...!!
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Tim Cook Nets $41.5 Million After Selling Over 500,000 Apple Shares
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Tim will remain in the history as the most boring CEO ever. Yeah, he is a good manager, excellent actually, Apple reached 2 trillion dollars valuation and all of that, but still, everything happened in the most boring way possible. We lost a true leader, a visionary, a living legend and received a very good COO instead as a new CEO. I guess Steve just didn't find anyone more suitable and didn't want anyone outside of Apple to take care. Elon Musk is the new king, like it or not and the future belongs to him.
I wondered if Apple could pass the torch from Tim Cook to Elon Musk. Imagine the innovations that could result from Musk's concepts for Apple! 😎
Apple CEO Tim Cook netted around $41.5 million after taxes this week after selling 511,000 shares of Apple stock that he received as part of a performance-based award, according to a filing released by the U.S. Securities and Exchange Commission.
The stock award was determined based on Apple's total shareholder return relative to the other companies in the S&P 500 between the first day of Apple's 2021 fiscal year and the final day of Apple's 2023 fiscal year. Based on this metric, Apple ranked 141 of the 480 companies that were included in the S&P 500.
Cook still owns nearly 3.3 million shares of Apple following the sale, the filing indicates.
Cook was awarded an additional 73,010 restricted stock units, with one-third of the units to vest on April 1 each year in 2026, 2027, and 2028. He was also awarded 219,030 performance-based restricted stock units that are scheduled to vest on October 1, 2026, but this amount is subject to change based on Apple's S&P 500 performance.
In a 2015 interview with Fortune, Cook said that he planned to give away all his wealth, after paying for his nephew's college education. Cook said that he would take a "systematic approach to philanthropy."
Cook has been CEO of Apple since 2011, and he has worked at the company for 25 years.
Article Link: Tim Cook Nets $41.5 Million After Selling Over 500,000 Apple Shares
So, after paying for all the price-gouged textbooks, should have about $500,000 left for charity.
I kid I kid..
Probably closer to $400,000.
The article points out that he still has 3.3mil shares and will add more as they vest over the next few years...
Most CEOs are boring. Their job isn't to excite, it is to generate wealth.
With the quality of the rollout of the 2023 iP 15 and the AW. This is just a drop in the bucket of what Tim deserves. Such leadership and vision warrants this and so much more. The sheer marketing genius to convince people of the brilliance of the new Apple Watch will soon leave people screaming Tap Tap with even more fervor, fanfare and devotion than those enamored fans yelling Tay Tay!
Well done, Tim. Well done. Chairman Xi is inexpressibly proud of you!
Well done, Tim. Well done. Chairman Xi is inexpressibly proud of you!
In the first 10 years as CEO, the market cap from Apple went from $500B to $3T. Very impressive. In order to do that, that valuation increased an average of $700,000,000 per day. Seven Hundred Million Dollars per day.
Taking out ~$100M in stock is by no means a sign of trouble ahead. Good for him for cashing out a little bit.
You can call him boring all you want. He's not as charismatic as Steve Jobs, but he's an incredible CEO.
Taking out ~$100M in stock is by no means a sign of trouble ahead. Good for him for cashing out a little bit.
You can call him boring all you want. He's not as charismatic as Steve Jobs, but he's an incredible CEO.
Yeah it is, though its only about 2% of his net worth.
In the grand scheme of things, this was a procedural transaction and not a big deal.
Their financial and stock performance points to Tim successfully leading Apple as a category leader.
If Jobs knew he made a mistake, who should he have picked instead?
Was thinking the same the whole time I was reading this thread. The money is practically fake until you actually sell.
He is just selling off some excess shares he got in a rewards package, it isn't some huge deal and doesn't point to anything.
I don’t think so but neither of us knows for sure … unless you are him.
Now I'm wondering what all those other employees are doing...
Six of one, half a dozen of the other. Those shares had the equivalent dollar value on Apple's books, so whether it's a payment in cash or stocks, it's little difference to either side. If Apple wants to rebuild their stock holdings by that number of shares, they will have to pay the cash value on the open market to accomplish it.
Cook is managing the most valuable company in the world at $2.7T. $41.5M is about .0015% of the company's valuation. This is not a major sell-off by management, and I wouldn't hit the panic button over this transaction.
As for the magnitude of his compensation, I can't judge much from this one transaction. There are money managers and athletes that make more, so you would have to look at Cook's total compensation. But, like I said, he is managing the world's most valuable company in one of the fastest moving and competitive industries on the planet, so of course he is going to be well compensated. You can't be successful in this business by just clipping coupons.
As for the magnitude of his compensation, I can't judge much from this one transaction. There are money managers and athletes that make more, so you would have to look at Cook's total compensation. But, like I said, he is managing the world's most valuable company in one of the fastest moving and competitive industries on the planet, so of course he is going to be well compensated. You can't be successful in this business by just clipping coupons.
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A lot of companies were ruined that way. The stock is driven up by short term actions. The managers cash in and leave. Sustainable development with this model is rather the exception than the rule.
I have no beef with how much Tim is paid, but in a way I feel sorry for him. According to Forbes he has almost 2,000 million dollars in his piggy bank. He's obviously of the "live to work" rather than "work to live" grouping.
I gave up most of my revenue-generating work when 45, fully retired at 55. If I am careful the money will last.
I gave up most of my revenue-generating work when 45, fully retired at 55. If I am careful the money will last.