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Tim Cook Receives Restricted Stock Units Worth Up to $114 Million, Ensuring He'll Remain Apple's CEO Through 2025

laz232

macrumors 6502a
Feb 4, 2016
567
992
At a café near you
This is somewhat surprising and great news for AAPL shareholders who want Tim Cook to stay in the role. With the last of his original 2011 RSU's expiring next year, it seemed like Cook was either going to retire or the board would wait until next year to announce a new compensation package. He is worth every penny (and more than 50% goes to taxes anyway!)

On the other hand, Apple has overspent on a few other exec packages over the past decade. Angela was an insane amount of $$$ for what she brought, and I believe O'Brien is even worse (lack of retail experience.) I would love to see Apple have a more diverse exec team and board in the coming years, but I also wish they were smarter with who was promoted into these prime positions. Just my 2 cents!

I would like apple execs to have more diverse thoughts - I don't care what gender, sexual orientation or skin colour:
I wish that apple focussed on hardware for professionals (and no - videographers aren't the only professionals - despite what Apple thinks)
I wish that Apples value for money would be better. laptop and iPhone prices are insane. I can afford it, but with TC I get the feeling I'm taken advantage of as he laughs his way to the bank.
I wish that Apple would stop pretending to be a social justice company. They are generally two-faced corporate capitalists and Tim Cook is not
exception - witnes his stock options ! I believe in honesty , not hypocrisy ...
From a phone...
 

portland_bill

macrumors member
Jul 31, 2020
97
176
Ya’ll doesn’t include you? So you don’t buy Apple products but just hang out on an Apple forum to say how bad they are? 🤦‍♂️😂

some of us feel that bending over for Apple is not the most coherent way to ensure the consumer gets value for money.

of course, consumer being the operative word here as opposed to the appalling ‘Apple fan’ nonsense so prevalent here.
 

jonnysods

macrumors 604
Sep 20, 2006
6,665
3,494
There & Back Again
It can't be an easy job. He inherited a cult which we loved, and had to fill the shoes of one of the greatest tech CEOs of all time. I don't like everything he has done, I don't find him overly interesting when it comes to speaking about usability, or the future/direction of technology, but he's done his best with the talent he's been given and led well.

What I'm even more curious about now is who replaces him in say 2025 onwards. Will they put a tech person as head of the company, or another CFO/COO/Supply Chain/Beancounter type person?
 

fithian

macrumors regular
Jul 22, 2002
161
10
Eastern PA
This may encourage Tim to increase wages and benefits across the board. This amount of $$$ looks good on paper, and should be good for the charitable corporations he supports. While my holdings of AAPL are significantly lower than Tim's, I will be using my dividends to support my favorite charities; otherwise, it is just $$$ on paper. My original shares of AAPL were purchased at a share adjusted price of 7¢ per share. That is probably cheaper than the shares Tim owns.
 

jpsalazar

macrumors member
Sep 16, 2020
45
39
He has proven that operations and not innovation is the key component in a sustainable future for Apple. Good job.
 
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2010mini

macrumors 601
Jun 19, 2013
4,454
4,377
Haven't bought an iPhone in five years, haven't bought a Mac in nearly ten. The only thing I've bought recently are a song or two from iTunes. Moved on to Android years ago. Love the freedom and openness of putting apps that I want on MY devices (what a concept I know) and not what Timmy TELLS me I can have on my devices.

If you have moved on.... why are you still here?
 
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ipponrg

macrumors 68020
Oct 15, 2008
2,036
1,697
MBP 13" - My Device, Faulty Keyboard, let's face it, well-known issue.
Mac Mini - My Device, Bluetooth, another well-known issue, ongoing.
Mac Mini - My Device, HDMI, firmware issue, unusable from Catalina. Still Not resolved.
MBP 16" - My Device, Turns into an oven using an external monitor 100+ page thread on the issue in this forum.
Watch S3 - Daughters watch face cracked down one side, repair program for this, known issue.
iPad Air - Wife this time, the screen went black stopped working, again known issue

I can give you more, you asked for 6. Happy now. But you will have another smart ass reply no doubt.

In these types of threads, many issues get sideskirted by brown nosers who don’t care about the products. 😎

I agree with you though. The quality control on some of the recent products has not been great
 
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NetMage

macrumors regular
Oct 21, 2007
154
124
Don’t see the title justified by the article - not sure how slowly receiving more shares would affect Tom’s decision to stay on.
 

I7guy

macrumors Penryn
Nov 30, 2013
24,300
12,426
Gotta be in it to win it
I guess if one calls Emojis innovation, then Tim Cook is The MAN. But Apple should be a leader in technology and their products should be fresh and unique. Instead we are inundated with countless updates correcting previous poorly designed updates. Evidence can easily be found in the new iOS 14, iPad OS 14, and hopefully not but quite likely macOS Big Sur 15. It is not the company that once lead the charge of close to perfection in design and manufacturing advanced electronics. The Apple Star does not shine quite as brightly as it used to. But it can shine again with the proper leadership and an interest in things other than Emojis.
Emojis are one part of innovation, as we know that Apple has an entire staff of hundreds cranking out those emojis and then telling the world what the standard is. /s

There products are fresh and unique and because it's your opinion they are not, doesn't mean it is an across the board truism.

What evidence is found in ios 14, that hasn't been there for ios 13, 12, 11, 10, 9, 8, 7, 6 etc?

That Apple was close to perfect in software releases I think is wishful thinking from a time when Apple didn't have the breadth of infrastructure it has today.

By all objective measures, the Apple Star is shining brightly and those who thought Apple is doomed and wished Mr. Cook nothing but failure were all objectively wrong.

We all know emojis are what brings in the big bucks at Apple and to that end they should continue to innovate in the emoji department.
 

I7guy

macrumors Penryn
Nov 30, 2013
24,300
12,426
Gotta be in it to win it
Member Front_242 said 'innovation' in their post, not 'Copy'

Apple Watch - Copied idea from other manufactureres who made smartwatches back in the 1990's and early 2000's
FaceID - Copied idea from Android who introduced facial recognition in their OS 'Ice Cream Sandwich' back in 2011
To that end almost every feature in Android appears to be a copy of another invention from years ago. If Apple "copied" the AW from ideas stemming in the 1990s, how does that bode for any Android vendor that made a smart watch? Facial recognition, again Android copied the idea as it stems from research in the 1960s. https://www.doc.ic.ac.uk/~hh4017/History#:~:text=According to some, the father,known as a RAND tablet.

Seems to me Android is the poster child of "copying" by your definition, rather than innovating.
 

Carnegie

macrumors 6502a
May 24, 2012
751
1,784
Don’t see the title justified by the article - not sure how slowly receiving more shares would affect Tom’s decision to stay on.

Yeah, I don't think this award ensures that Mr. Cook will stay with Apple through 2025. I do think he will; I just don't think this award ensures that.

It's very likely that when he eventually steps down as (or otherwise stops being) Apple's CEO he will have unvested RSUs from an award like this. They aren't going to hold off granting him a new award until after the last shares from the previous award vested (for one thing, that would make it look like he was planning to leave), so he'll always have unvested RSUs. He'll, likely, end up collecting shares for the time he remains and then lose whatever shares would have vested had he stayed longer.

I'd add that, based on the way this award is structured and the way Apple has been structuring awards for other executives in recent years, I suspect Mr. Cook will get another RSU award next year with similar terms. So he'll have overlapping RSU awards and at any given time in the future until he leaves he'll have unvested awards extending out several years.
 

I7guy

macrumors Penryn
Nov 30, 2013
24,300
12,426
Gotta be in it to win it
It can't be an easy job. He inherited a cult which we loved, and had to fill the shoes of one of the greatest tech CEOs of all time. I don't like everything he has done, I don't find him overly interesting when it comes to speaking about usability, or the future/direction of technology, but he's done his best with the talent he's been given and led well.

What I'm even more curious about now is who replaces him in say 2025 onwards. Will they put a tech person as head of the company, or another CFO/COO/Supply Chain/Beancounter type person?
Probably going to install a CEO who can lead Apple. And if that person has tech skills, then so be it. If that person is an operation person (CFO/COO/Supply Chain/Beancounter) so be it. I'm sure succession planning is already underway and they have a good idea of who take Mr. Cooks' place in the event he departs Apple.
 

Angrydad

macrumors newbie
Oct 4, 2017
12
5
Rocky Mountains


Apple CEO Tim Cook was this week awarded 667,974 restricted stock units or RSUs worth more than $76 million at Apple's current price, according to a filing with the SEC. The first half of the RSUs are set to vest in one-third increments in 2023, 2024, and 2025, so Cook will receive 111,329 shares every April starting in 2023.


The second half of the RSUs are performance-based awards and will vest on October 1, 2023, based on Apple's relative shareholder return. Cook can potentially receive up to 200% of the 333,987 RSUs awarded for performance.Paired with the time-based stock awards, Cook can earn up to 1,001,961 shares worth more than $114 million today if Apple's performance in the S&P 500 is in the 85th percentile or higher relative to other companies.

This is the first stock grant that Cook has received since 2011, with the last of that grant set to vest in 2021. As noted by Reuters' Stephen Nellis, Apple's board of directors issued a statement on Cook's RSU award:Several employees on Apple's executive team have also received stock awards, including Luca Maestri, Deirdre O'Brien, and Jeff Williams, all of whom have been awarded 178,128 shares. As with Cook's award, half of these RSUs will vest between 2023 and 2025, while the rest are performance based awards.

The RSUs serve as bonus compensation for Cook and Apple's executives, and will encourage employees to stay with the company through at least 2025, which is when everything will be fully vested. Cook has been Apple's CEO since August 2011, and there has been some speculation lately on how long he will continue to work for Apple. Cook in a recent interview said that he can't envision his life not working at Apple.When Cook does opt to retire at some point in the future, Apple Chief Operating Officer Jeff Williams could assume the role of CEO, according to a recent Bloomberg report. Williams is "primed" to take over for Cook if necessary and considered the "heir apparent" within Apple.

Article Link: Tim Cook Receives Restricted Stock Units Worth Up to $114 Million, Ensuring He'll Remain Apple's CEO Through 2025
Wonderful for him but sucks for retail employees that can’t afford to live in areas that they work. When are you going to up the pay of retail employees stop keeping them as slaves.
 

sideshowuniqueuser

macrumors 6502a
Mar 20, 2016
945
780
Tim Cook surpassed Steve Jobs in my eyes. I think people glorify Steve Jobs way too much.
Pfft, Steve had vision and detail and created the Apple that still reigns today. Captain Crook took an already dominating array of products, and bean counted them into greater profit margins and less quality control. Apple would be nothing without Steve. And now Apple is on a downward slide of quality. Apple under Steve used to be "It just works." That mantra under Captain Crook has long been abandoned. Imagine if Apple tried using it now, they would be laughed out of the room.
 

Wanted797

macrumors 6502a
Oct 28, 2011
852
1,286
Australia
Member Front_242 said 'innovation' in their post, not 'Copy'

Apple Watch - Copied idea from other manufactureres who made smartwatches back in the 1990's and early 2000's
FaceID - Copied idea from Android who introduced facial recognition in their OS 'Ice Cream Sandwich' back in 2011

I think I’ve said this before. But Apple has never been the first to do things. And they don’t really care about being first

They didn’t make the first MP3 player, touchscreen smartphone, smart watch or wireless earphones. But they did it well that’s why we remember them.
 
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melancholy

Cancelled
Aug 25, 2016
1,203
1,457
Pfft, Steve had vision and detail and created the Apple that still reigns today. Captain Crook took an already dominating array of products, and bean counted them into greater profit margins and less quality control. Apple would be nothing without Steve. And now Apple is on a downward slide of quality. Apple under Steve used to be "It just works." That mantra under Captain Crook has long been abandoned. Imagine if Apple tried using it now, they would be laughed out of the room.
You are cringe, man lol
 

Virinprew

macrumors 6502a
Apr 24, 2012
653
293
Tim Cook surpassed Steve Jobs in my eyes. I think people glorify Steve Jobs way too much.
You’re not wrong. But things have many dimensions. If you look at a glass of water from the side, you see a rectangle. But if you look from the top, you see a circle. It really depends on where you look at. Steve Jobs may not be as operation-oriented as Tim Cook is. But TC is certainly not a salesman like SJ. The older keynotes were so convincing that I needed to have it. Nowadays I have to convince myself that I might need it. But hey Apple is doing exceptional thanks to Tim. And I respect that.
 
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