Tim Cook Reaches Five Years as Apple CEO, Unlocks Over $100 Million in Bonuses

[9081094]

We already know what will happen, millions of people will buy the new iPhone. Software that Google has to offer? On what? Even the Galaxy S7 won't get the newest update. I'd hope Google maps would be better out of the country with the head start they have had with development. Yes, overall screen quality results have shown Apple screens are the best. Brightness and over saturated colors are not everything. The bezels, I would agree with you there. I was hoping they would be slimmed down by now, but makes sense considering we still have the home button. Expensive phones, yes, but I get what I pay for. I have tried both Apple and Samsung phones and I much prefer Apple hardware, software, ecosystem, and services. If another American company can one day do better, I'd be happy to switch.

You live in the USA, but services from Apple here suck. Amoled screens from Samsung are much better then anything Apple has to offer. I think you're comparing with a few years back. Today Apple is getting behind the curve. Android is on par with iOS and you could even get a skin with look and feel of iOS if you like (it's a blatant copy). I know the quality of the iPhones are good, but today, so is the competition. iPhone 7 will be a dud compared to what's coming on the market. Android updates are also getting better. It's a matter of time. My opinion, Apple is going to lose the smartphone race (already did).
[doublepost=1472118863][/doublepost]

No macbook pro update in more than 5 years. Record ceo bonus. Woohoo.

For a tech company selling computers it's unheard of. Any other computer maker would go bankrupt selling outdated tech at the same prices four years ago.

 

[Osamede]

The real reason Tim gets the big bucks is not because he is serving the Apple customer well, but rather he is an excellent coordinator in service of the all-greedy Apple shareholder.

https://www.theguardian.com/technology/2016/aug/24/apple-taxes-european-commission

Rupert Neate in New York

@RupertNeate
Wednesday 24 August 2016 18.51 BST


The Obama administration warned the EU on Wednesday that its investigations into alleged tax avoidance by US firms, including Apple, Amazon and Starbucks, could “create an unfortunate international tax policy precedent”.

In a white paper commissioned by US Treasury secretary Jack Lew, the US warned that Brussels was overstepping its powers and becoming a “supranational tax authority”.

The US warned that if Brussels pushes ahead with threatened plans to demand as much as $19bn (£14.4bn) from Apple for alleged unpaid taxes as a result of so-called sweetheart deals with Ireland the US Treasury will “consider potential responses”.

The EU has been investigating whether Apple’s tax deals with Ireland, whichallowed the company to pay very little tax on income earned throughout Europe, amounted to state aid. The commission is expected next month to rule on the case, the biggest single corporate tax avoidance investigation.​

 

[Jax44]

Open up your iPhone and the camera is Sony, ram Samsung, chip made by Samsung and half of the screens are from Samsung. Apple fabricates nor develops nothing except from the arm chip and high price (big profits from your money)

Wrong:

Function Manufacturer
Application Processor Apple
Baseband Processor Qualcomm
LPDDR SDRAM Samsung
NAND - 16 GB/ 64 GB Toshiba / SK Hynix
Power Management Qualcomm
Power Management Apple / Dialog Semi
Envelope Power Tracker Qualcomm
RF Transceiver Qualcomm
Accelerometer Bosch
Gyroscope / Accelerometer Invensense
Barometric Sensor Bosch
Audio CODEC Apple/Cirrus Logic
NFC Controller NXP
Touchscreen Controller Murata / Broadcom
Force Touch Controller Analog Devices
WiFi / Bluetooth

 

[DCIFRTHS]

His donations have absolutely nothing to do with the success of Apple. Hello?

Tim Cook Reaches Five Years as Apple CEO, Unlocks Over $100 Million in Bonuses

Where in that title does it say this thread is exclusively about his performance? To be honest, if this thread was only about his performance, there would be no discussion. Why? He has obviously met Apple's objectives. The article did say that he met Apple's objectives to receive the big $$$ and bonus, didn't it?

Hello?

Do you need the volume turned up?

 

[crabbo]

They should have given him what he is worth. An Apple Watch seems about right.

 

[DNichter]

You live in the USA, but services from Apple here suck. Amoled screens from Samsung are much better then anything Apple has to offer. I think you're comparing with a few years back. Today Apple is getting behind the curve. Android is on par with iOS and you could even get a skin with look and feel of iOS if you like (it's a blatant copy). I know the quality of the iPhones are good, but today, so is the competition. iPhone 7 will be a dud compared to what's coming on the market. Android updates are also getting better. It's a matter of time. My opinion, Apple is going to lose the smartphone race (already did).

This is true, I really don't what it is like outside of the US. I can only speak from what I know. I have heard good things about amoled screens. I will agree with you there as I am sure I will be thrilled once Apple brings them to the iPhone properly tuned. Android has improved, but it will never be on par with iOS in terms of stability, security, and developer ecosystem. These things are important to me and I am sure, a lot of people. I value privacy very highly and this is something you just cannot get with Android. The iPhone 7 will come out, blow away everything the competition has to offer from a performance standpoint (the 6S already beat the Galaxy S7), and sell millions of phones and make the most money. It's selfish, but as a shareholder, this makes me happy as well. If you're talking about a race to market share, yes, Apple will always lose. This is simply a race Apple doesn't participate in, they never have. What they will keep doing is putting out quality phones year after year to people who prefer that ecosystem to Android.

 

[DCIFRTHS]

I have no benefits from defending Apple or TC, nor do I get offended by posts.

My point was: Why does it matter to you if it was mentioned, which insinuates that he may not do charity work or give donations.
Why would it be important how much he donates (if any) and what TC does with his money? Why would you want to know what charities he donates to? It is his and nobody's business what he does with it.

It matters to me that people criticize but leave out the good parts of a person's character. The article was fair to him. The responses to it... not so much.

If any of it would be public knowledge , I can guarantee that some nitwits would attack his choices.
Or, other charities put pressure for theirs. Many more reasons to stay anonymous.

I'm not sure why you are stating this. I don't care who he donates to. I didn't ask who he gives his money to. Im just happy he does.

Why are you deflecting my question for YOUR donations and charity work, claiming not to be a public figure?
It would be even easier since you have an anonymous id here on MR.

I am a very private person.
I also prefer to donate anonymously - I don't like advertise my donations - and I am in a position that I don't have to (my finances are not public).

I also don't believe that anyone is interested in hearing this, but you asked. Twice.

I will post here that Saint Jude Children's Hospital is tied for my favorite charity.

My other favorite one was brought about by a personal experience: About ten years ago, I was on my way into Best Buy, and I saw a person who had flipped open the metal top on a large, concrete garbage can. He was eating the remains of a Nathan's meal that was salvaged from inside the trash receptacle. The image is burned into my memory forever. I approached very discretely, and tried to give ten dollars to him. He became agitated, refused to take it, and ran away. Based on his actions, and the nosies he made, I assumed that he was not just homeless. Maybe I shouldn't assume, but I did. On my way out of the store, I saw a woman attempting to give him some cash too. She got the same response that I did. I could never adequately articulate how badly I felt when I saw the condition of the food that this man was eating.

Helping people that struggle, with food and shelter, is something that is very important to me.

I can tell you, that my favorite charity is the Newington Children Hospital and I just donated to the Leukemia Foundation. I also sometimes give some persons I see struggling in the streets $ 20 at a time when I see them.
I can also tell you that I cannot donate regularly, due to my current financial situation.
When I had a high paying 6 figure job, I would donate regularly.

PS: I also give blood, because I am blessed with a universally compatible blood type.
They would like to pump me dry if they could. For now they just ask every 6 months.

There, all that info despite NOT being a public figure.

I commend your giving ways. I have never given blood. It must be a rewarding experience.

 

[Peruna]

Today marks the fifth anniversary since Tim Cook was named Apple CEO on August 24, 2011, the same day that late co-founder Steve Jobs stepped down as chief executive for the final time and recommended the board of directors appoint Cook as his permanent successor.

Upon reaching the five-year mark, Cook has today unlocked previously awarded stock bonuses currently worth over $100 million. The bonuses are tied to both his tenure and Apple's performance under his leadership, including its total shareholder return relative to the S&P 500 index.

Cook's bonus includes 700,000 tenure-based restricted stock units that vested today as part of a larger compensation package of over 4.7 million shares awarded on August 24, 2011, in addition to his first of six annual installments of 280,000 tenure-based restricted stock units that vested today. The combined 980,000 shares are valued at nearly $106.7 million based on AAPL's closing price of $108.85 on Tuesday.

Cook's bonus could be even higher if Apple's total shareholder return is in the middle third or top third relative to other companies in the S&P 500 from August 25, 2013 through August 24, 2016. He will receive another 140,000 RSUs for middle third performance, or 280,000 RSUs for top third performance. AAPL has risen around 52% since August 25, 2013, while the S&P 500 has risen around 32% in the same time period, making at least a middle third finish a strong possibility.

A restricted stock unit, or RSU, is a form of compensation valued in terms of company stock, but the stock is not issued at the time of the grant. Instead, the recipient gets shares of stock at a later date, generally only if they are still employed by the company. Cook personally requested that his award be modified to adhere to a more performance-based compensation system in 2013. Another 700,000 of his RSUs are scheduled to vest on August 24, 2021, plus 280,000 RSUs each August 24 through 2021.

Cook's net worth, assuming he remains with the company through August 24, 2021 and meets performance targets, is estimated to be over $500 million based on his current stock options and RSUs awarded. He has previously pledged to donate the vast majority of his wealth, including stock bonuses like these, to charities in his lifetime. In May 2015, for example, Cook donated approximately 50,000 shares of Apple stock, then worth approximately $6.5 million, to undisclosed charities.

Cook has overseen the launch of the Apple Watch, MacBook Pro with Retina display, ultra-thin 12-inch MacBook, iPad Pro, several iPhone and iPad models, Apple Maps, Apple Music, Apple Pay, Siri, and many other products and services since taking over the reigns in 2011. Apple became the world's most valuable company in 2012 under his leadership, and it continues to hold that title today. Apple stock has risen over 132% since Cook was appointed as CEO five years ago.

Article Link: Tim Cook Reaches Five Years as Apple CEO, Unlocks Over $100 Million in Bonuses

So he gets the keys to a Ferrari, drives it around a bit, doesn't crash it and for that he gets $100 million!? Nice work if you can get it I suppose.

But seriously, what has he done to drive innovation in the past 5 years. Anyone? Anyone? Bueller? What has he done that nearly any number of competent managers could not have done in his place? His WAR rating, as frankly it is for much of top-level corporate America is quite low, but corporate boards love their own and continue over compensation when those assets could be better used elsewhere.

 

[Col4bin]

Tim Cook Reaches Five Years as Apple CEO, Unlocks Over $100 Million in Bonuses

Where in that title does it say this thread is exclusively about his performance? To be honest, if this thread was only about his performance, there would be no discussion. Why? He has obviously met Apple's objectives. The article did say that he met Apple's objectives to receive the big $$$ and bonus, didn't it?

Do you need the volume turned up?

Tim Cook's $100 million stock option awarded is based on Apple's performance and success during his tenure these past five years. Even though the article is slightly vague in spelling out exactly why he's receiving his merits, and perhaps that information is private, the strong link to shareholder returns and S&P 500 Index leads me to believe that it is based on his personal performance in driving ROI and profits. TC had stated in the past that a portion of his wealth and bonuses would be donated to charity, but IMO I don't think it's why he's receiving his merit in the first place.

"Upon reaching the five-year mark, Cook has today unlocked previously awarded stock bonuses currently worth over $100 million. The bonuses are tied to both his tenure and Apple's performance under his leadership, including its total shareholder return relative to the S&P 500 index."

"Cook's bonus could be even higher if Apple's total shareholder return is in the middle third or top third relative to other companies in the S&P 500 from August 25, 2013 through August 24, 2016. He will receive another 140,000 RSUs for middle third performance, or 280,000 RSUs for top third performance. AAPL has risen around 52% since August 25, 2013, while the S&P 500 has risen around 32% in the same time period, making at least a middle third finish a strong possibility."

"A restricted stock unit, or RSU, is a form of compensation valued in terms of company stock, but the stock is not issued at the time of the grant. Instead, the recipient gets shares of stock at a later date, generally only if they are still employed by the company. Cook personally requested that his award be modified to adhere to a more performance-based compensation system in 2013. Another 700,000 of his RSUs are scheduled to vest on August 24, 2021, plus 280,000 RSUs each August 24 through 2021."

"Cook's net worth, assuming he remains with the company through August 24, 2021 and meets performance targets, is estimated to be over $500 million based on his current stock options and RSUs awarded. He has previously pledged to donate the vast majority of his wealth, including stock bonuses like these, to charities in his lifetime. In May 2015, for example, Cook donated approximately 50,000 shares of Apple stock, then worth approximately $6.5 million, to undisclosed charities."​

 

[Jambalaya]

Shareholder return is massively boosted by Apple's agressive tax strategies such as paying just 1% in Ireland. As such it has a direct and substantial in the pocket benefit to Cook. I am all for people being well rewarded but Cook benefits personally in a very material way whilst European and indeed US the Government are denied the taxes they should be due and which would pay for Hospitals and Schools.

 

[irevolt]

Apple now has lobbyists in D.C., Tim hosts fundraisers for politicians, maintains nearly 200 billion of corporate dollars away from taxes that support schools, roads, bridges etc... Borrows on that mountain of cash through Wall Street bankers to (legally) manipulate the company stock price through purchasing Apples own stock back. Executives sit on boards of other companies from exotic car companies to tennis shoe companies. Pressures suppliers to take price cuts in manufacturing. Yeah Apple aims to "enrich lives", just don't ask whose lives.

 

[DCIFRTHS]

Tim Cook's $100 million stock option awarded is based on Apple's performance and success during his tenure these past five years. Even though the article is slightly vague in spelling out exactly why he's receiving his merits, and perhaps that information is private, the strong link to shareholder returns and S&P 500 Index leads me to believe that it is based on his personal performance in driving ROI and profits. TC had stated in the past that a portion of his wealth and bonuses would be donated to charity, but IMO I don't think it's why he's receiving his merit in the first place.

"Upon reaching the five-year mark, Cook has today unlocked previously awarded stock bonuses currently worth over $100 million. The bonuses are tied to both his tenure and Apple's performance under his leadership, including its total shareholder return relative to the S&P 500 index."

"Cook's bonus could be even higher if Apple's total shareholder return is in the middle third or top third relative to other companies in the S&P 500 from August 25, 2013 through August 24, 2016. He will receive another 140,000 RSUs for middle third performance, or 280,000 RSUs for top third performance. AAPL has risen around 52% since August 25, 2013, while the S&P 500 has risen around 32% in the same time period, making at least a middle third finish a strong possibility."

"A restricted stock unit, or RSU, is a form of compensation valued in terms of company stock, but the stock is not issued at the time of the grant. Instead, the recipient gets shares of stock at a later date, generally only if they are still employed by the company. Cook personally requested that his award be modified to adhere to a more performance-based compensation system in 2013. Another 700,000 of his RSUs are scheduled to vest on August 24, 2021, plus 280,000 RSUs each August 24 through 2021."

"Cook's net worth, assuming he remains with the company through August 24, 2021 and meets performance targets, is estimated to be over $500 million based on his current stock options and RSUs awarded. He has previously pledged to donate the vast majority of his wealth, including stock bonuses like these, to charities in his lifetime. In May 2015, for example, Cook donated approximately 50,000 shares of Apple stock, then worth approximately $6.5 million, to undisclosed charities."​

Good point.

 

[Col4bin]

Good point.

Obviously Tim Cook's annual business goals and objectives, as levied by Apple's Board of Directors, are firmly planted in driving forward the success of the business. However, seeing that Apple is also a huge philanthropic entity as well, I wouldn't be surprised at all to learn that part of Tim Cook's performance merit includes a clause, self-induced or otherwise, that states he privately give back a certain percentage in donations to charities or endeavors of his choosing--as recently uncovered SEC filings have confirmed on his behalf. (This is not to say that he wouldn't do this anyway based on his own recorded beliefs and public acts.) Since he doesn't publicly comment on his own specific acts of kindness in this regard, I'm reading between the lines here so only my suspicion.

http://www.insidephilanthropy.com/guide-to-individual-donors/tim-cook.html

http://iphone.appleinsider.com/articles/15/05/29/apple-ceo-tim-cook-donates-656m-to-charity

 

[jdsingle]

Mac holds less marketshare than ever in history.
iOS sinks to record low marketshare.
iPhone now makes up less marketshare than ever.
iPhone 7 looks like iPhone 6S, and iPhone 6S looks like iPhone 6.
MacBook Pro Line goes nearly 5 years and still no update.
iPad sales lagging industry.

Not a resume I'd want... sure Apple is profitable... but has been stagnant for a while in product. And the reason the company is successful is the coat-tails they're still riding from past successes.

Innovation is the name of the game, and without it, it's a boring and unsuccessful path when it comes to technology.

Seems to be working for Microsoft...

 

[9081094]

Wrong:

Function Manufacturer
Application Processor Apple
Baseband Processor Qualcomm
LPDDR SDRAM Samsung
NAND - 16 GB/ 64 GB Toshiba / SK Hynix
Power Management Qualcomm
Power Management Apple / Dialog Semi
Envelope Power Tracker Qualcomm
RF Transceiver Qualcomm
Accelerometer Bosch
Gyroscope / Accelerometer Invensense
Barometric Sensor Bosch
Audio CODEC Apple/Cirrus Logic
NFC Controller NXP
Touchscreen Controller Murata / Broadcom
Force Touch Controller Analog Devices
WiFi / Bluetooth

Just a few components Apple codevelopped. Rest is all free on the market and you'll see them in other phones for half the price. I hope Apple will take a big hit with the launch of the iPhone 7 and will start concentrating on innovation and what consumers want instead of profits. You forget to mention the screen
[doublepost=1472135525][/doublepost]At least you're being honest about the screens. But I don't agree with you that iOS is superior to android.

http://www.prnewswire.com/news-rele...h-failure-rates--crashing-apps-300317033.html

Apple was ahead till a few years ago but it's playing catch up now. And seeing the rapid pace of android soft- and hardware, I don't believe they're able to do so.

 

[Thunderhawks]

It matters to me that people criticize but leave out the good parts of a person's character. The article was fair to him. The responses to it... not so much.

Agreed, people seem to revel in negatives.

I commend your giving ways. I have never given blood. It must be a rewarding experience.

It's draining, for real
You feel the pumping of the entire body trying to replace what was taken out.
It's like getting small electrical shocks.

I just always hope they use all of it (They split it into red cells, plasma and platelets

PS: Also agreed that it's a shame that anybody in this world should go hungry. It feels as if more food is thrown away each day in the well to do countries than being eaten.

 

[Savor]

 

[Kobayagi]

Mac holds less marketshare than ever in history.
iOS sinks to record low marketshare.
iPhone now makes up less marketshare than ever.
iPhone 7 looks like iPhone 6S, and iPhone 6S looks like iPhone 6.
MacBook Pro Line goes nearly 5 years and still no update.
iPad sales lagging industry.

Not a resume I'd want... sure Apple is profitable... but has been stagnant for a while in product. And the reason the company is successful is the coat-tails they're still riding from past successes.

Innovation is the name of the game, and without it, it's a boring and unsuccessful path when it comes to technology.

You forgot the Mac Pro which hasn't been updated for 3 years(!!!) And the Thunderbolt Display which was almost 5 years old (!!!!!) before they decided to just drop it, not finally release a new one, no they just discontinued it.

 

[chriscrowlee]

You forgot the Mac Pro which hasn't been updated for 3 years(!!!) and the Thunderbolt Display which was almost 5 years old (!!!!!) before they decided to just drop it, not finally release a new one, no they just discontinued it.

Sometimes I look at the website and think gosh nothing has changed since 2012... the ipads basically look the same... the computers are pretty much the same sans the Macbook... the phones... everything.. it's weird.

 

[Kobayagi]

Sometimes I look at the website and think gosh nothing has changed since 2012... the ipads basically look the same... the computers are pretty much the same sans the Macbook... the phones... everything.. it's weird.

And sometimes I think I could be a better CEO at Apple... I got very little knowledge in economics (not my field of interest), but overlooking the design process, keeping your designers and engineers busy with new, relevant, stuff and just giving the people the products they want. It can't all be that difficult, right?

 

[chriscrowlee]

And sometimes I think I could be a better CEO at Apple... I got very little knowledge in economics (not my field of interest), but overlooking the design process, keeping your designers and engineers busy with new, relevant, stuff and just giving the people the products they want. It can't all be that difficult, right?

That's exactly why Apple has turned into the stagnant company it has. Steve Jobs wasn't a typical CEO. The CEO is responsible for the financial performance of the company. Steve had his hands in everything. That is a good thing when it works, and a bad thing when it doesn't. Tim Cook is a completely traditional CEO who doesn't have his hands in design or product. So when Steve left and Tim came in, the company's helm was transferred, but there was a great deal of guidance and involvement that was lost, and I think Apple has failed to backfill the void left by Steve in design and oversight of products.

 

[thermodynamic]

So that's how he can afford it, by keeping product costs far higher than the competition while ditching American salaries (but taking American tax money as corporate welfare) and paying other countries' workers (like China's) a mere $4160/yr ($2/hr, or at least until they commit suicide, no wonder American company Apple is loathed over there), on top of all the open source software... Yeah, Tim is such a human rights advocate and saint and we're so glad he's on board and a champion of the human race and Earth and everything!!

http://www.huffingtonpost.com/scott-paul/tim-cooks-views-on-americ_b_8854910.html

http://utbblogs.com/apples-hypocritical-stance-on-the-environment/

http://www.breitbart.com/big-govern...im-cook-a-hypocrite-on-religious-freedom-law/

etc

 

[Michael Goff]

It's always easy for incredibly rich people to say they "don't do it for the money".

 

[thermodynamic]

The CEO is responsible for the financial performance of the company.

Except most CEOs tend to find ways to blame everyone else for everything, and even then your Steve also knew of the iphone 4 (and 5??!) antenna defect as an engineer told him. Steve ignored it and then blamed customers. It made the news, how come Apple fans missed out on the articles, for which I'll put out links for a couple, there were many many more...

http://www.wired.com/2010/07/iphone-4-antenna/

http://www.bloomberg.com/news/artic...told-jobs-last-year-about-iphone-antenna-flaw

http://pressf1.pcworld.co.nz/archive/index.php/t-127085.html?s=6bb1530f7fe48686d05eb26d424e6c4f

https://www.theguardian.com/technology/blog/2010/jun/25/iphone-reception-problems-solved

Jobs was a narcissist if not sociopath. No CEO of any small company could get away with none of that ****. Especially when the wrong person got fired, the middle manager. Steve knew and ignored it, he was the one who should have been canned (again, why was he ousted the first time? Either way, blaming customers when knowing they were not the cause is truly despicable. Sorry if the defenders are so feeble that they end up reminding us of The Stockholm Syndrome being a real condition... Facts are useless things, Steve had a long history of arrogance that customers would not appreciate.
[doublepost=1472144918][/doublepost]

It's always easy for incredibly rich people to say they "don't do it for the money".

For the same reasons they try to draw sympathy and/or guilt by claiming they ran the business for a year and earned a $1 salary (when, behind the scenes, numerous options make the $1/year an insult to the intelligence of their audience)?

 

[MagnusVonMagnum]

"(He) never did it for the money" and yet he never gave any away....