Tim Cook Poised to Receive Around $120 Million in Apple Stock as Tenure and Performance Award

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Aug 22, 2018.

  1. MacRumors macrumors bot

    MacRumors

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    Apple CEO Tim Cook is poised to receive 560,000 shares of Apple stock on Friday, worth approximately $120.4 million based on Tuesday's closing price of $215.04. The two-part award is tied to Cook's continued service as CEO, and Apple's relative performance on the stock market under his leadership.

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    The total includes the vesting of 280,000 restricted stock units for Cook remaining CEO over the past year, and the vesting of another 280,000 restricted stock units for Apple achieving a higher shareholder return than at least two-thirds of other companies in the S&P 500 over the past three years.

    Apple's total shareholder return was 119 percent from August 25, 2015 through Tuesday's closing bell, outperforming more than 80 percent of firms in the S&P 500, according to Bloomberg. So, unless Apple suffers a major collapse on the stock market in the next 48 hours, Cook will receive all 560,000 shares.

    Cook receives these annual awards as part of a grant he received upon succeeding the late Steve Jobs as CEO of Apple in 2011.

    Cook will receive an additional 560,000 shares in each of the next three years if he remains CEO, and Apple's total shareholder return continues to rank among the top-third of companies in the S&P 500. He is also set to receive a lump sum of 700,000 tenure-based shares on August 24, 2021, as part of his grant.

    Cook also receives a $3 million salary and earned a $9.33 million cash bonus in 2017, according to Bloomberg.

    Cook now has a net worth of around $700 million, according to Bloomberg, but has previously said he plans to give away most of his wealth. Just this week, an SEC filing revealed that Cook recently donated 23,215 shares of Apple stock to charity, worth nearly $5 million based on Tuesday's closing price.

    Apple became the world's only trillion dollar publicly traded company, in terms of market capitalization, earlier this month.


    Article Link: Tim Cook Poised to Receive Around $120 Million in Apple Stock as Tenure and Performance Award
     
  2. Macatize macrumors newbie

    Macatize

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  3. KPandian1 macrumors 6502a

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    Escalating scale of salary not just tied to the stock price, but more to the disappointment of the customers in all the products, items returned for service and how pissed off the Apple fans get year-on-year.
     
  4. Schizoid macrumors 6502a

    Schizoid

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    Certainly looks like he’s not going anywhere...
     
  5. Shasterball macrumors 6502a

    Shasterball

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  6. taptic macrumors 65816

    taptic

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    #6
    Well, I certainly can't think of anyone that deserves it more!

    </SARCHASM^3>
     
  7. Rogifan macrumors P6

    Rogifan

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    #7
    Apple is the most valuable company in the world yet Tim Cook isn’t even a billionaire?
     
  8. djcerla macrumors 68000

    djcerla

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    #8
    Well deserved.

    Apple is firing on all cylinders, for an old Apple dog like me (Powermac 7100) this whole situation is basically science fiction turned into reality.
     
  9. GadgetBen macrumors 6502a

    GadgetBen

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    You can bet that Tim's donations to charity are well thought out, not big corporate entities who just would just absorb the funds to pay their overheads and fund Director salaries.
     
  10. pier macrumors 6502a

    pier

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    #10
    And yet the Mac is in its worst shape probably since the Scully era.
     
  11. AngerDanger, Aug 22, 2018
    Last edited: Aug 26, 2018

    AngerDanger macrumors 68040

    AngerDanger

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    I like how the low contrast between the shirt and background makes it looks like you're supposed to chroma-key them out.

    [​IMG]
     
  12. yaxomoxay macrumors 68020

    yaxomoxay

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    Dear Tim - I am a charity case. Please donate.

    Good for him, despite my disappointment with Apple in general, the results for the company are there, so he deserves it.
     
  13. T'hain Esh Kelch macrumors 601

    T'hain Esh Kelch

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    #13
    Suddenly those 23.000 shares doesn't look like much, when he just received 560.000 more. I wonder what he needs all those shares for, instead of just donating them.
     
  14. Smeaton1724 macrumors 6502a

    Smeaton1724

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    #14
    Can you use that stock photo when they release a 'spec bumped' Mac Mini with all of the ports (apart from the headphone port) removed?
     
  15. BeyondtheTech macrumors 68020

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    You can bet that Tim's donations to charity are well thought out to timely offset the tax burden he would have to pay for the sudden increase in income.
     
  16. Nicksd84 macrumors 6502

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    #16
    He deserves it. I wonder the stock options and employee stock purchase program are for "regular" employees.
     
  17. yaxomoxay macrumors 68020

    yaxomoxay

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    #17
    So? He still has to pay taxes, except donations are not real income. Do you really want people to pay income taxes... on donations?
     
  18. Joe Rossignol Editor

    Joe Rossignol

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    #18
    It's just a matter of time.

    He can still receive up to 2.3 million AAPL shares by the end of 2021.

    $511 million at current stock price.

    If he is truly worth $700M right now, that should do the trick, unless he keeps donating large sums.
     
  19. Naraxus macrumors 6502a

    Naraxus

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    Too bad he's not poised to receive a pink slip...
     
  20. yaxomoxay macrumors 68020

    yaxomoxay

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    #20
    I am critical of Cook, but with the numbers he’s pulling any board that fires him would be shot on sight by investors, banks, vendors, and financial institutions.
     
  21. Joe Rossignol Editor

    Joe Rossignol

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    #21
    Remember that terrible job I did imposing that Apple Maps vehicle on a US map? — thanks for fixing that :D

    I have another good one for you:

    upload_2018-8-22_10-33-10.png
     
  22. yaxomoxay macrumors 68020

    yaxomoxay

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    #22
    I’d photoshop Cook on this:

    [​IMG]
     
  23. jonnyb098 macrumors 68020

    jonnyb098

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    #23
    In the Scully era, the mac was near 100 percent of their business and Apple wasn't the richest company and top brand on the planet. Now mobile devices like iPhone and iPad make up over 70 percent of their business. Times change, get used to it. Adapt or move along.
     

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