Apple locks in Tim Cook as CEO with restricted stock bonus worth $383 million
Apple's new chief executive has been awarded a million restricted shares of Apple that vest over the next decade, ensuring his continued employment through 2021.
At today's closing stock valuation, one million shares of Apple would be worth $383.6 million.
However, the restricted stock units Apple's board voted to awarded Cook won't begin to vest until August 2016, when half of the award will convert into shares or a cash equivalent, depending upon how the award is set up.
The second half of Cook's million restricted stock units vest in August 2021. Both vesting dates are contingent upon his "continued employment with Apple through each such date," according to Apple's 8K filing with the SEC.
A variety of analysts have already set Apple's stock targets as high as $500, and in ten years, Apple's stock price could easily make Cook's award worth considerably more than half a billion dollars.
At today's closing stock valuation, one million shares of Apple would be worth $383.6 million.
However, the restricted stock units Apple's board voted to awarded Cook won't begin to vest until August 2016, when half of the award will convert into shares or a cash equivalent, depending upon how the award is set up.
The second half of Cook's million restricted stock units vest in August 2021. Both vesting dates are contingent upon his "continued employment with Apple through each such date," according to Apple's 8K filing with the SEC.
A variety of analysts have already set Apple's stock targets as high as $500, and in ten years, Apple's stock price could easily make Cook's award worth considerably more than half a billion dollars.
Comments
Cook's aware worth considerably more than half a billion dollars.
It wouldn't be a DED article without a typo. Some things never change.
http://www.tmz.com/2011/08/26/steve-...k#.TlgUOnMlb-Q
So sad to see him this way
Tim has some big shoes to fill
He frickin loves Apple.
I know it's a celebrity rag, but TMZ just posted a picture of a VERY frail Steve Jobs.
I don't think we need these images here, thanks - Mod
So much for the speculation of him still being actively involved in Apple. He looks like he doesn't have much time left. Very sad.
I know it's a celebrity rag, but TMZ just posted a picture of a VERY frail Steve Jobs. I won't post the image here, but here's the link:
http://www.tmz.com/2011/08/26/steve-...k#.TlgUOnMlb-Q
So sad to see him this way
Tim has some big shoes to fill
Dick move to post this tripe. I sure as hell wouldn't want my intimate moments posted on the Internet for the world to see.
So much for the speculation of him still being actively involved in Apple. He looks like he doesn't have much time left. Very sad.
So you weren't cool with just a link. You had to put the fucking picture up, so we all can't miss it? How about you get some taste and delete it, huh?
... picture removed for delicate eyes ...
So much for the speculation of him still being actively involved in Apple. He looks like he doesn't have much time left. Very sad.
I don't usually indulge in conspiracies but I think these might be fake. There is something terribly wrong with the black trousers, the lines look artificial.
Also, after 30 years of wearing black turtle necks and bluejeans he switches to black culotte's on the day of his departure? ... and stands in a parking lot for a photograph?
So you weren't cool with just a link. You had to put the fucking picture up, so we all can't miss it? How about you get some taste and delete it, huh?
I can only hope that Applelover read what I originally wrote.
Dick move to post this tripe. I sure as hell wouldn't want my intimate moments posted on the Internet for the world to see.
I wasn't trying to offend anyone. That's why I posted a link instead of posting the image
I don't usually indulge in conspiracies but I think these might be fake. There is something terribly wrong with the black trousers, the lines look artificial.
Also, after 30 years of wearing black turtle necks and bluejeans he switches to black culotte's on the day of his departure? ... and stands in a parking lot for a photograph?
Please remove the picture.
My initial reaction was that this was probably a picture taken, at the hospital, as he was recovering from his liver transplant -- I could understand him looking that way -- taking a picture of him, no!
So much for the speculation of him still being actively involved in Apple. He looks like he doesn't have much time left. Very sad.
Please remove the picture!
...
Leave the guy alone, take the picture down.
Please remove the picture.
My initial reaction was that this was probably a picture taken, at the hospital, as he was recovering from his liver transplant -- I could understand him looking that way -- taking a picture of him, no!
I think you might be right. This doesn't look like a man who could have spent a day at the office 2 days before this photo was allegedly taken. There's lots of negative buzz about these photos.
Also, who's the guy with Steve and why have we never seen this guy before?