“Two Apple executives received vested restricted stock units (RSU) last week, according to documents filed with the SEC,” Husain Sumra reports for MacRumors.
“Apple CEO Tim Cook received 72,877 shares of Apple stock as part of the RSU award from when he was promoted to CEO two years ago. However, earlier this year Apple’s board decided to modify the award to be more performance based and this vesting was part of that process,” Sumra reports. “Cook had 38,028 shares of stock withheld for tax purposes, while the remaining 34,849 shares — worth nearly $19.5 million — he will continue to hold.”
Sumra reports, “Senior Vice President Eddy Cue vested 50,000 shares with roughly half withheld for taxes and the other half sold for a net gain of roughly $12.4 million.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]
Tim cook holding aapl means big things really coming from Apple .
Good for them. They deserve it!
As an Apple shareholder, I appreciate that *many* Apple employees have done a great job. But there are limits to the compensation that is awarded to corporate management.
I am fairly well compensated in comparison to many people. But, if I were to make my current salary over a 50 year career, I would only have a little over half the money that Eddie Cue netted from half his shares. That’s right, he was just awarded 200 years of my salary – a salary that took me 24 years to achieve. I cannot agree with you that Eddie or any of those guys are “worth” many hundreds of good people. Corporate management, Apple and all of the others, are a little too willing to award themselves big bonuses. I value them, but I do not undervalue myself or others.
Must be great…
Lets hope iTunes Radio is well worth the wait Mr. Eddy Cue. Looking forward to my new music channels!
Take some of Googles AD money away!