We always assumed the top dogs at Apple received a decent wage, but MacRumors has dug up some information on just what kind of bonus new CEO Tim Cook will receive.
In an 8-K form filed with the SEC, Apple has outlined a share deal that will make your eyes water. Cook will receive 1,000,000 shares which, when vested, would net the new CEO around $380,000,000 if they were cashed in today. Part of the deal is that he can’t cash his investments for another ten years…
“In connection with Mr. Cook’s appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units. Fifty percent of the restricted stock units are scheduled to vest on each of August 24, 2016 and August 24, 2021, subject to Mr. Cook’s continued employment with Apple through each such date.”
On top of that we have Cook’s normal anual salary and bonuses which, according to MacRumors, netted the former COO a cool $58 million in 2010.
That is not a Small Amount? What do u think?
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