“Upon reaching the five-year mark, Cook has today unlocked previously awarded stock bonuses currently worth over $100 million,” Rossignol reports. “he 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,” Rossignol reports. “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.”
Read more in the full article here.
MacDailyNews Take: Not a bad little payday!
Don’t waste a cent of it on a three-year-old Mac Pro, Tim. 😉
Steve Jobs resigns as CEO of Apple; Tim Cook named CEO, Jobs elected Chairman of the Board – August 24, 2011