Tim Cook about to get $750 million Apple stock payday

AppleInsiderAppleInsider
Posted:
in General Discussion edited August 2021
After taking over from Steve Jobs, Apple CEO Tim Cook was promised ten award payments over the course of his tenure, with this $750 million being the final one.

Tim Cook to collect final time-based stock payment worth about $750 million
Tim Cook to collect final time-based stock payment worth about $750 million


Approximately 5 million shares worth about $750 million are being paid to Tim Cook as a final portion of his CEO stock deal. However, Cook famously donates much of his wealth and will likely do the same with this latest payment.

A report from Bloomberg says the payout is contingent on Apple's stock return over the past three years. It had to surpass at least two-thirds of companies in the S&P 500, a threshold Apple cleared by a wide margin.

Tim Cook is 60 years old and in his tenth year as CEO of Apple. He expects to continue running the company for some time, however doesn't see himself doing it for another ten year span.

During Cook's tenure, Apple's revenue doubled with shares returning more than 1,100%. The company is worth over $2 trillion and shares have increased by 12% in 2021 alone.

Read on AppleInsider

Comments

  • Reply 1 of 11
    carnegiecarnegie Posts: 1,078member
    Mr. Cook likely already got these shares (minus withholding for tax purposes) on Tuesday. We just don't have a Section 16 filing about that yet because they have 3 days to make such a filing.

    I'd also note that, according to a recent filing, Mr. Cook made a charitable donation of shares worth more than $10 million last Friday.
    edited August 2021 buttesilver
  • Reply 2 of 11
    jasonfjjasonfj Posts: 567member
    You’d think he’d look a little happier about it. 
    edited August 2021 king editor the grateapplguyigorskyosmartormenajrdavbuttesilverITGUYINSDstevenozdewme
  • Reply 3 of 11
    sconosciutosconosciuto Posts: 262member
    He's done a great job, the results speak for themselves. Does make me wonder if Jobs leaving the CEO job due to his untimely death was in fact ultimately a good thing for Apple. If any sort of organization wishes to endure, it cannot live and die by a single charismatic leader (looking at you, Tesla).
    buttesilverstevenozdewme
  • Reply 4 of 11
    applguyapplguy Posts: 235member
    Good for TimApple. Well earned. I’m sure his years of supply chain management have helped sustain growth during these unprecedented times. 
  • Reply 5 of 11
    sflocalsflocal Posts: 6,096member
    sconosciuto said:
    He's done a great job, the results speak for themselves. Does make me wonder if Jobs leaving the CEO job due to his untimely death was in fact ultimately a good thing for Apple. If any sort of organization wishes to endure, it cannot live and die by a single charismatic leader (looking at you, Tesla).
    No, but plenty of good companies have essentially died due to incompetent CEO's.  
    macplusplus
  • Reply 6 of 11
    jdwjdw Posts: 1,340member
    sflocal said:
    sconosciuto said:
    He's done a great job, the results speak for themselves. Does make me wonder if Jobs leaving the CEO job due to his untimely death was in fact ultimately a good thing for Apple. If any sort of organization wishes to endure, it cannot live and die by a single charismatic leader (looking at you, Tesla).
    No, but plenty of good companies have essentially died due to incompetent CEO's.  
    Precisely why the selection of his successor is just as important, if not more so, than Steve Job's selection of Tim Cook.  Whoever comes in after Tim has big shoes to fill.  As AppleInsider has reported in the past, the most likely successor at this point is Jeff Williams.
  • Reply 7 of 11
    stevenozstevenoz Posts: 314member
    jdw said:
    sflocal said:
    He's done a great job, the results speak for themselves. Does make me wonder if Jobs leaving the CEO job due to his untimely death was in fact ultimately a good thing for Apple. If any sort of organization wishes to endure, it cannot live and die by a single charismatic leader (looking at you, Tesla).
    No, but plenty of good companies have essentially died due to incompetent CEO's.  
    Precisely why the selection of his successor is just as important, if not more so, than Steve Job's selection of Tim Cook.  Whoever comes in after Tim has big shoes to fill.  As AppleInsider has reported in the past, the most likely successor at this point is Jeff Williams.
    https://www.apple.com/leadership/jeff-williams/
  • Reply 8 of 11
    mpantonempantone Posts: 2,040member
    Thanks. We already know who Jeff Williams is. He has been COO basically as long as Tim has been CEO.

    And for most of us, it is not lost that Tim's title was COO for many years when Steve was still alive.
    edited August 2021 fastasleep
  • Reply 9 of 11
    fastasleepfastasleep Posts: 6,420member
    stevenoz said:
    jdw said:
    sflocal said:
    He's done a great job, the results speak for themselves. Does make me wonder if Jobs leaving the CEO job due to his untimely death was in fact ultimately a good thing for Apple. If any sort of organization wishes to endure, it cannot live and die by a single charismatic leader (looking at you, Tesla).
    No, but plenty of good companies have essentially died due to incompetent CEO's.  
    Precisely why the selection of his successor is just as important, if not more so, than Steve Job's selection of Tim Cook.  Whoever comes in after Tim has big shoes to fill.  As AppleInsider has reported in the past, the most likely successor at this point is Jeff Williams.
    https://www.apple.com/leadership/jeff-williams/
    Guess who Tim Cook was before he was CEO. We'll wait.
  • Reply 10 of 11
    anantksundaramanantksundaram Posts: 20,404member
    He deserves every penny for all that he's accomplished. 

    But I think -- well, more like worry, both as an ardent consumer and as a shareholder -- that we're seeing close to peak Apple, with its main competitive advantage at the moment being that its competitors still suck.
    muthuk_vanalingam
  • Reply 11 of 11
    fastasleepfastasleep Posts: 6,420member
    anantksundaram said:
    He deserves every penny for all that he's accomplished. 

    But I think -- well, more like worry, both as an ardent consumer and as a shareholder -- that we're seeing close to peak Apple, with its main competitive advantage at the moment being that its competitors still suck.
    Oh good, it's been a while since we've had an Apple is Doomed™ post.
Sign In or Register to comment.