He can sell those vested shares immediately and likely he did sell at least some of them yesterday and perhaps today. He typically sells newly vested shares right away, while still holding on to a large number he already had. We'll know soon enough when he makes a SEC filing, but the last time he got the annual shares plus the big block of 5-year shares (like he did this time) he sold the annual shares and held the block of 5-year shares. That is to say, he sold the annual shares remaining after tax withholding and held onto the 5-year shares remaining after tax withholding.
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Tim Cook to Receive $750 Million Worth of Apple's Stock This Week
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there is no moral/ethical reason why anyone should be given that obscene amount of wealth
This $750 million in equity compensation is taxed as ordinary income. For income tax purposes, the situation is the same as it would be if Apple had written him a check on Tuesday for $754 million as an annual salary. That's true whether he holds the shares or not; the value at vesting is treated as ordinary income. If he holds the shares after that time, then gains or loses from that value are treated as capital gains or losses.
being CEO of a multi trillion dollar company is a daunting task. compensation is subjective, but i think $750m is fair. if anything, being president would probably be one of the few jobs that is more difficult, and therefore i think the president's salary is a bit low in comparison.
Being a minimum wage worker with a family to support is at least 10 times more daunting.
I wish I made enough to consider donating or giving some of it away. But on the bright side I don't have to worry about anyone hitting me up for money or the headaches that come with a job like his.
There's no moral/ethical reason why he shouldn't be given that "obscene" amount of wealth.
Really? Do you go into a grocery store and buy a box or Oreo cookies and do a financial analysis on the CEO of Nabisco? Or buy a car and do a financial analysis of the CEO of the dealership. What customers are paying for is the product they received in exchange for the selling price. That's the only value equation that matters. Those who buy products based on the company philosophies, CEO pay, company politics are welcome to use those views...but in the case of Apple they won't be missing the sale.
meanwhile store staff, iPhone workers and phone support etc earn a barely livable wages. No one person should earn this kind of money. Itis pure greed.
disagreed. CEO of a multitrillion dollar company means you're responsible for hundreds of thousands of paying jobs which affect hundreds of thousands of families.
Couldn't agree more. $14.7 million a year and now $750 million in stock? That's insane, and far more money than anyone could ever truly use.
Meanwhile, Japanese CEOs...
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Mr. Jobs, as Apple's CEO, received an RSU grant in 2003. When the Apple shares from that grant vested in 2006 they were worth around $650 million.
Both have different types of stress. Tim lives and breathes for Apple. Apple became a multi-trillion dollar company under his reign and predecessors, and as such, he will be compensated for that.
One cannot say one is more stressful than the other if you haven’t lived each other’s lives. He doesn’t necessarily live and sit at Apple doing nothing all day. His job isn’t a 9-5 either.
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I don’t understand what your point is with the Japanese CEOs. Apple has generated more income and has more money to pay its executives. As Apple grew, of course their salary went up. If a Japanese CEO led their company to be one of the richest companies in the world, I’m sure they’ll be compensated — unless I’m completely missing an economic, labour law or something pertaining to Japanese salaries here.
Good to see you around! I miss your near-daily images (not that you're under any obligation to provide them, of course).
And New I phone 13 prices on the rise just pass it off to the customer no big deal right Timmy.
He also gives $5 million worth of stock to charities every year.
Sure there is. He earned it by bringing Apple the massive success it enjoys today.
You are not the arbiter of what the proper amount of compensation is for other people.
It’s not like if Tim calls in sick then Apple closes all its factories and stores around the world. Get a grip.
Yeah I’m sure Tim regularly wakes up in the night screaming “why can’t I be on minimum wage and worrying how to feed and clothe my children!!!!”
What do ethics/morality have to do with it?
What are the ethics/morality of nosing up someone else’s income?
Kinda just seems like garden variety envy/greed/hate, which never did nothing good for nobody.
Tim Cook should enjoy his earnings however he sees fit, and I think he should start by throwing himself one hell of a retirement party and for the 3-4 layers down of recent middle management hires.
The fact that one job is more desirable than the other doesn't mean that the most desirable job is less stressful. Presidents desire their job and plan for it for years, but their stress level is usually something that very few people can even understand.