Apple locks in Tim Cook as CEO with restricted stock bonus worth $383 million

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Comments

  • Reply 41 of 66
    jasenj1jasenj1 Posts: 922member
    It'd be great if Apple could keep the tradition of $1 salary for the CEO. And no golden parachute. Apple does well and the CEO gets compensated well. Apple does poorly and CEO gets less.



    - Jasen.
  • Reply 42 of 66
    Quote:
    Originally Posted by Haggar View Post


    Didn't Amelio also get a huge golden parachute when he left Apple? Does Cook have a similar arrangement?



    Actually, Amelio was given options to buy 1 million shares at $26.25 or $6.56 today adjusted for splits... but those options turned out worthless at that time. His salary was based on performance but was guaranteed at $2.5 million. His severance was $6.7 million +.
  • Reply 43 of 66
    Quote:
    Originally Posted by Duddits View Post


    True... the $80 million or so in stock he's already cashed in just doesn't buy what it used to.



    The CEO job of a major corporation has certain perqs and certain reqs -- Tim needs the monetary where-with-all to deal with heads of corporations and countries from a position of strength and credibility.



    Steve could afford, and take advantage of, a salary of $1 per year. Tim cannot -- this is a different Apple, now. Tim needs to have the status of a major player -- as well as be one.



    As a shareholder, I would like to see Tim earn multiple $ millions per year.





    FWIW, stock sales are often used to diversify, pay/offset taxes, maximize an option, etc.
  • Reply 44 of 66
    chris_cachris_ca Posts: 2,543member
    Quote:
    Originally Posted by Dick Applebaum View Post


    I expect Tim will need some "walking around" money -- he isn't independently wealthy.



    $59 million last year from Apple and annual salary of $800k plus annual $900k bonus.

    Add a few million more in stock sales (Nike) this year and I only wish I was not that independently wealthy...
  • Reply 45 of 66
    Quote:
    Originally Posted by Chris_CA View Post


    $59 million last year from Apple and annual salary of $800k plus annual $900k bonus.

    Add a few million more in stock sales (Nike) this year and I only wish I was not that independently wealthy...



    Have vou ever been in a room with millionaires... I have.



    It often becomes a pissing contest among the lower echelon -- he's only worth $1.4 momllion and I'm worth $1.5 miiilon...



    When Cook enters a room... He needs to shut that down -- by physical presence (and net worth, doesn't hurt)



    Why would you want to dick around proving your bona fides when you are about changing the world?
  • Reply 46 of 66
    chris_cachris_ca Posts: 2,543member
    Quote:
    Originally Posted by Dick Applebaum View Post


    Why would you want to dick around proving your bona fides when you are about changing the world?



    Can I sell sugar water instead?





    Looks like he has +500,000 AAPL shares already plus this million and whatever he has elsewhere.

    RIchie Rich? Probably not but he's not hurting.

    But I get your point.
  • Reply 47 of 66
    dudditsduddits Posts: 260member
    Quote:
    Originally Posted by Dick Applebaum View Post


    The CEO job of a major corporation has certain perqs and certain reqs -- Tim needs the monetary where-with-all to deal with heads of corporations and countries from a position of strength and credibility.



    Steve could afford, and take advantage of, a salary of $1 per year. Tim cannot -- this is a different Apple, now. Tim needs to have the status of a major player -- as well as be one.



    As a shareholder, I would like to see Tim earn multiple $ millions per year.





    FWIW, stock sales are often used to diversify, pay/offset taxes, maximize an option, etc.



    What are you talking about?!



    Tim Cook is extraordinarily wealthy!



    Any yearly salary he earns will be dwarfed by the millions he already has in the bank and will make with his options.



    I expect that he will earn a genuine salary - although the $1 thing would be nice to preserve.



    However, any salary Tim earns won't increase his "position of strength and credibility" among other chief executives.



    Tim is CEO of Apple. CEO of the largest corporation in the world on certain days. Whether he makes $1/year or $1million/year, his status is equally formidable (and his salary is equally negligible).



    If you're worried he's not going to be able to afford proper clothes, you can rest easy. Besides, he could always wear jeans and black t-shirts while he saves up for a suit.
  • Reply 48 of 66
    oc4theooc4theo Posts: 294member
    That is a lot of dough. And I am sure it comes with the corporate jet.



    Is he getting a ONE CENT salary like Steve Jobs?
  • Reply 49 of 66
    emcsemcs Posts: 3member
    Quote:
    Originally Posted by Dick Applebaum View Post


    Have vou ever been in a room with millionaires... I have.



    It often becomes a pissing contest among the lower echelon -- he's only worth $1.4 momllion and I'm worth $1.5 miiilon...



    When Cook enters a room... He needs to shut that down -- by physical presence (and net worth, doesn't hurt)



    Why would you want to dick around proving your bona fides when you are about changing the world?



    In a room full of millionaires, I always win the pissing contest by earning 0 USD per year (SJ is a big earner compared to me). Just give them a sorry look and use this killing phrase 'Oh, you still need to earn! I don't earn, I own'.
  • Reply 50 of 66
    jasenj1jasenj1 Posts: 922member
    Quote:
    Originally Posted by emcs View Post


    In a room full of millionaires, I always win the pissing contest by earning 0 USD per year (SJ is a big earner compared to me). Just give them a sorry look and use this killing phrase 'Oh, you still need to earn! I don't earn, I own'.



    LOL. Exactly. At some point you have to graduate from being a "wage slave" and do what you do for the love of it. The scenario Dick describes sounds like a bunch of frat-boy wanna-bes stroking each others' egos. But I also hear/read the type of people who become that wealthy are highly driven, borderline (or over the border) sociopaths - so I wouldn't be surprised that they do things I don't understand.



    Which has more bragging rights? "I bought a new villa in Greece" or "I introduced a new product that sold 1 million units in the first week"?



    - Jasen.
  • Reply 51 of 66
    MacProMacPro Posts: 19,500member
    Quote:
    Originally Posted by solipsism View Post


    I'm guessing more like $1B after 10 years.



    Not that he needs an incentive I suspect but that is a nice one to have
  • Reply 52 of 66
    MacProMacPro Posts: 19,500member
    Quote:
    Originally Posted by Maguro View Post


    Here's another typo. He fixed the one already pointed out above, but missed this one. Even his short posts have multiple typos. Seriously, do these writers just post whatever they want with no supervision?



    Lion needs an option to return to use Snow Leopard style spelling correction or Lion's as the user prefers. Anyone typing quickly simply accepts the alternative guesses Lion throws in by default and the psychology of perception kicks in, you see what you think you see often times not what is actually there when proofing in a hurry.



    Apple rarely make mistakes in the UI but Lion's auto correct is definitely not good as is IMHO and urgently needs some user options.



    I'm not saying remove it, I'm suggesting a) give the user an option between SL and Lion style on a per app basis and b) If using Lion's, user checks in prefs if the suggestion is accepted or rejected if you simply keep typing.
  • Reply 53 of 66
    lkrupplkrupp Posts: 10,030member
    Quote:
    Originally Posted by AppleInsider View Post


    At today's closing stock valuation, one million shares of Apple would be worth $383.6 million.



    Speaking of this AAPL closed ahead of XOM once again. I notice that the usual tech sites and posters seem to be ignoring their predictions of doom for AAPL once Jobs stepped aside. It went the other way in fact. Investors know that Tim Cook has been the power behind the throne for a couple of years now and they are confident in his leadership. Jobs sure is.
  • Reply 54 of 66
    tallest skiltallest skil Posts: 43,399member
    Quote:
    Originally Posted by OC4Theo View Post


    That is a lot of dough. And I am sure it comes with the corporate jet.



    Is he getting a ONE CENT salary like Steve Jobs?



    Thanks for not reading the article or the thread.



    Or getting any of your facts correct.
  • Reply 55 of 66
    solipsismsolipsism Posts: 25,726member
    Is Steve keeping the N2N jet? Is he eligible for another transplant?
  • Reply 56 of 66
    Quote:
    Originally Posted by solipsism View Post


    Is Steve keeping the N2N jet? Is he eligible for another transplant?



    I suspect for expense and tax reasons that the Jet is owned by Apple -- and will be used to transport Apple execs (including Steve) as the need warrants.
  • Reply 57 of 66
    Quote:
    Originally Posted by Chris_CA View Post


    $59 million last year from Apple and annual salary of $800k plus annual $900k bonus.

    Add a few million more in stock sales (Nike) this year and I only wish I was not that independently wealthy...



    Urban Dictionary:





    I.W. means being independently wealthy. i.e. having enough money to support one's self without ever having to work.



    JFK, Bobbie and Ted Kennedy are good examples of IW -- AIR, they each received $10 Million (likely, close to $100 Million in 2011 dollars) on their 20th BDays.
  • Reply 58 of 66
    zoetmbzoetmb Posts: 2,628member
    Quote:
    Originally Posted by Dick Applebaum View Post


    Have vou ever been in a room with millionaires... I have.



    It often becomes a pissing contest among the lower echelon -- he's only worth $1.4 momllion and I'm worth $1.5 miiilon...



    When Cook enters a room... He needs to shut that down -- by physical presence (and net worth, doesn't hurt)



    Why would you want to dick around proving your bona fides when you are about changing the world?



    There's a big difference between being a millionaire (in terms of assets) and earning a $ million a year. Big difference. If you're a millionaire at 50, big deal. If you retire and you expect to live until 80, that leaves you with a big $33,000 a year. If you do it at 60 and expect to live another 20 years, that's only $50K per year. And if that's money invested in a pre-tax 401K or the like, you'll have to pay taxes as you withdraw the money.



    If however, you EARN $1 million or more a year, that's real money. In 2009, almost 237,000 U.S. taxpayers earned more than $1 million. 8274 earned more than $10 million. 1470 of those earning over $1 million paid no Federal taxes, although that's usually because they donated a lot of money to charity. In 2007, the top 1% of earners earned 23% of total U.S. earnings. Back in the 1970s, ,the top 1% earned only 8 to 9% of total U.S. earnings.



    In 2009, 11% of U.S. households had a net worth of over $500K

    6.87% had a net worth over $1 million

    0.86% (980,000) had a net worth over $5 million.



    Besides, I like being in a room with millionaires. Being in that room raises the average net worth of each person in the room. That makes me richer, right?
  • Reply 59 of 66
    Quote:
    Originally Posted by zoetmb View Post


    There's a big difference between being a millionaire (in terms of assets) and earning a $ million a year. Big difference. If you're a millionaire at 50, big deal. If you retire and you expect to live until 80, that leaves you with a big $33,000 a year. If you do it at 60 and expect to live another 20 years, that's only $50K per year. And if that's money invested in a pre-tax 401K or the like, you'll have to pay taxes as you withdraw the money.



    If however, you EARN $1 million or more a year, that's real money. In 2009, almost 237,000 U.S. taxpayers earned more than $1 million. 8274 earned more than $10 million. 1470 of those earning over $1 million paid no Federal taxes, although that's usually because they donated a lot of money to charity. In 2007, the top 1% of earners earned 23% of total U.S. earnings. Back in the 1970s, ,the top 1% earned only 8 to 9% of total U.S. earnings.



    In 2009, 11% of U.S. households had a net worth of over $500K

    6.87% had a net worth over $1 million

    0.86% (980,000) had a net worth over $5 million.



    Besides, I like being in a room with millionaires. Being in that room raises the average net worth of each person in the room. That makes me richer, right?





    Ha! I guess, with a small [enough] room and a big [enough] pissing contest -- a rising tide lifts all boats
  • Reply 60 of 66
    richlrichl Posts: 2,213member
    The important question is: does he get a staff discount?
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