Apple CEO Tim Cook has acquired $115 million worth of vested Apple stock this week, according to new filings with the Securities and Exchange Commission. As detailed in the filing, 560,000 restricted stock units have vested for Cook after AAPL exceeded performance expectations.
For 2019, Cook was granted 280,000 shares of AAPL for his continued employment at Apple, and another 280,000 shares for meeting performance requirements.
Going forward, Cook has 1,820,000 restricted stock units in this award – 700,000 restricted stock units vest on August 24, 2021; the balance of 1,120,000 restricted stock units vests in two equal annual installments commencing August 24, 2020.
MacDailyNews Take: Hey, Tim finally got paid more than Angela!
BTW, $115 million is $55,288.46 per hour. Not a bad paycheck!
U.S. real median household income was $63,688 per year (U.S. Census Bureau, January 2019).
The U.S. SEC filing is here.