“Are you an investor who feel bummed out about Apple’s 41 percent stock slide in the last year? Tim Cook feels your pain,” Peter Kafka reports for AllThingsD. “And if Apple doesn’t perform in the future, he might lose some money, too. Apple’s board has changed its pay package for its CEO, in a way that puts a big chunk of his future payouts at risk.”
“If Apple’s stock outperforms the market over the next 8 years, Cook will be able to keep all of the 1 million Apple shares the company promised him back in 2011, which he was previously set to get no matter how Apple’s stock fared,” Kafka reports. “But if Apple’s stock does a lot worse than the market, Cook could lose up to 40 percent of those shares.”
Kafka reports, “In a document filed with the SEC today, Apple… also says that Cook is ‘leading this initiative by example,’ and has pushed the company’s board to add more risk to his pay package.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Ellis D.” for the heads up.]