“Apple CEO Tim Cook is set to collect stock worth about $120m (€103.5m) this week thanks to a run-up in shares of the iPhone maker,” Anders Melin reports for The Irish Independent. “”
“He’ll get as many as 280,000 additional shares if Apple’s stock-market return over the preceding three years exceeds at least two-thirds of the firms in the S&P 500,” Melin reports. “Apple returned 119pc from August 25, 2015, through the close of trading on Tuesday, including reinvested dividends, outperforming more than 80pc of companies in the index.”
“Apple will release a new low-cost laptop and a professional-focused upgrade to the Mac mini desktop later this year, ending a drought of Mac computers that has limited sales of the company’s longest-running line of devices, according to people familiar with the plans,” Melin reports. “An Apple Watch with a bigger screen is also planned.”
Read more in the full article here.
MacDailyNews Note: Cook volunteered to introduce a performance-related element to his own awards back in 2013. Cook has also stated plans to donate his fortune to philanthropic causes.
As Bloomberg notes, an Apple regulatory filing on Tuesday with the U.S. SEC (FORM 4) stated that Cook had donated 23,215 of his current Apple shares to charity which at Tuesday’s close totals around $4.56 million.
SEE ALSO:
Apple’s CEO Cook poised to reap $120 million worth of stock – August 22, 2018
Apple CEO Tim Cook paid close to $102 million for fiscal 2017 – December 28, 2017
Tim Cook reaps $89.2 million stock award – August 30, 2017
Apple cuts CEO Tim Cook’s pay after company misses 2016 targets – January 6, 2017
How Apple’s compensation tweak saved Tim Cook’s $373 million payday – August 26, 2016
Apple’s Tim Cook reaped $373 million in stock in 60 months as CEO – August 25, 2016
Tim Cook set to receive over $100 million on 5th anniversary as Apple CEO – August 24, 2016
I’d rather Apple’s board give Pipeline 120 million AFTER he updated the Mac product line. Then he might deserve it.
Agreed.
Amazing that a computer company that sells 4 year old computers give its CEO $120 mill of stock. SICK
Thankfully the board doesn’t listen to you.
You can only coast so long before your lack of leadership catches up with you. I see Cook as inferior to Immelt. Different is, Jobs left a better cash generation engine than Neutron Jackass did.
Banned aids,
Only an idiot would find it acceptable for a computer to not updating computers for 4 years. Thanks for outing yourself!
Amazing that anybody thinks that a CEO who quadrupled the value of his company isn’t entitled to be compensated in the same range as any other Fortune 500 executive.
Cook didn’t add any value whatsoever. He has fiddled away for years while Jobs’ app store keeps dispensing cash into Apple’s foreign money laundering machine. The innovation isn’t happening. Apple is unfocused and will likely miss the next big thing. Tim is too busy on social work.
Moron
You describe yourself very well.
Cook already receives a $3 million salary and $9.3 million in bonuses for his performance. That is what, 5 or 10 times the annual salary of the professionals who are every bit as critical to Apple’s success?
If you honestly believe Timmy singlehandedly tripled the value of Apple as a company, then fine, triple his salary.
There is no moral justification for any executive to be handed hundreds of millions of dollars in investors’ capital. It is pure waste. This is not capitalism, it is cronyism where the good old boys gift each other money because there’s no investor power to stop it. You know it, and I know it.
Feudalism is alive and well.
I criticise Cook regularly but that truly has to be one of the most deluded and derisory comments on him that I have read. You can’t hang around developing some imaginary ‘new big thing’ and let the rest of the company freeze while you do so. He certainly has not been excelling himself in making the most of the present tech and products available but your take is completely over the top in terms of suggesting the company not looking or indeed succeeding in exploiting new opportunities. The company and the market place is a different world away from the days that Jobs used to walk the stage dictating the future while being derided for his perceived naivety within a backdrop of competing against unimaginative dullards. His greatest success was changing that market place completely and the competitive environment is completely different now as a result.
Considering most analysts were making forboding predictions about the company’s chances of serving long term, post Jobs what we are seeing now makes a mockery of that and the criticisms are for the most part over nuance and conservatism in the post/post Jobs period rather than arguing over a train wreck which your take seems to suggest is the case.
A new more dynamic leader would be great now but until the right one comes along at least this guy keeps the company going in ways that most of its opposition would die for.
While I don’t agree with everything Mike has said, agree with the general assessment of Cook.
Never has a CEO with so many resources, pile of money, unprecedented office digs, ace industrial designers, best software engineers, unprecedented name recognition almost totally squandered his time since 2011.
“The company and the market place is a different world away from the days that Jobs used to walk the stage dictating the future”
The world is different? Right. What’s different is that Cook does not have the creativity and vision to walk the stage and dictate the future. I find his presentations to be flat and lifeless, but understand it’s just not his thing.
His strengths are in his former position under Steve and it should be obvious to everyone by now, including you.
“His greatest success was changing that market place completely”
You throw that cheerleading opinion out with no explanation. What he has changed in the marketplace is neglect of pro Macs for five years, consistent buggy software releases, consistent late product launches with missing features, killing products that Steve introduced to the world (Airport, iBook publishing, Aperture, etc.) and possibly soon Job’s unbelievable unveiling of the MacBook Air. If someone is keeping a spreadsheet tally I suspect he possibly has killed off more great products than he introduced, I don’t know for certain, whatever.
Bottom line: We need a new intense creative CEO with a pair and keep the company free of politics …
Steve’s iPhone quadrupled the value of his company, while Cook rode first class playing with iPads on the gravy train. Get a grip …
Saying that Cook Quadrupled the value of the company is pretty funny. It’s more like he stayed out of the way. The iPhone is a comet and Cook is still just along for the ride, though I’m not saying that hanging on is easy.
Amen …
I also agree. Cook’s tone deafness and neglect of the the oldest legacy Apple product line, bringing in the most profit after the iPhone, is totally INEXCUSABLE …
I suppose Tim Cook earned that money fair and square and maybe more than most CEOs deserve. I can’t complain as Apple shareholders have certainly prospered since Tim Cook took over Apple. I’m not going to go over any “what if” scenarios as it would be a complete waste of time. Apple may not hold the highest market cap crown very long but that won’t be entirely Tim Cook’s fault.
I just wish Tim Cook could keep Apple out of the product “shit list” news and maybe start getting some timely desktop product upgrades every couple of years.
Me hoping for a new game-changing product category is probably a stretch for Apple without Steve Jobs.
I think shareholders will benefit if Tim Cook can start a bundled video/music streaming service like Amazon has. I don’t know what’s taking Apple so long in starting such a service but maybe they’ll get it right when they finally decide to do so.
I’ve started a crowdfunding portal to help Tim work through this difficult time. It’s on the same page as Michael Colhen’s.
Yehhh. I’m with the whiners. He has only tripled the value of the company since Steve died. It’s only worth a trillion dollars. And it’s only the biggest public company on the planet. I really don’t think he deserves any reward for that.
“He has only tripled the value of the company since Steve died.”
NO, he had very little to do with it. Steve Jobs iPhone tripled the value. I would give the lion share of the credit to Jony Ive improving the product. Cook plays politics and twiddles on his iPad and kills products and ignores Macs.
“I really don’t think he deserves any reward for that.”
Totally agree …
Remind me again GoeB. Just what is it that the unimaginative, ungenerous, gun- totin’, homophobic, egregious, perpetually irrelevant, whining sadsack of discontent that you appear to be…could possibly offer Apple?
Name calling? How intelligent …
Apple’s Tim “Pipeline” Cook and top management of all corporations – producers like Apple and swindlers like Jamie Dimon of Goldman Sachs – are much overpaid, beyond their true human worth. This is the vile underbelly of Capitalistic practices in many Western nations. It’s even happening in former Commie Russia.
It should not be up to financially-bloated oligarchs to give away their accumulated hoards according to their schedule, when they want; Such gross personal accumulations should be prohibited in the first place in view of the tremendous amt. of economic, political, income, and access disparities that grows exponentially as I type. I see real-world disparity at the river bottom during my daily bike rides.
To appreciably reduce disparity, I call for the reappropriation of excessive personal wealth via a Constitutional Amendment. A significant article would also remove private money from politics and from lobbying which, unchecked, allows fat cats to write the laws for legislators. This has to stop.
The nice men in the white suits will be there shortly. Please don’t struggle with them. They’re going to put a comfy white jacket on you with really long sleeves that wrap around your for fun! Then take you out to the nice white van!
It’s going to be so fun!
Read to delight yourself.
http://www.latimes.com/nation/la-na-alaska-homeless-20180824-story.html
Vote for Pipeline Tim to GO!
https://www.change.org/p/apple-board-of-directors-remove-tim-cook-as-ceo-of-apple