To meet stipulations that would release the full allotment, Apple's total shareholder return needed to be in the top third of companies listed on the S&P 500 over a three-year period from Aug. 25, 2018 through Aug. 24, 2021. The company's TSR came out to 191.83%, putting it in 13th place among the 442 companies that remained in the index for the full three years.
Upon seeing the full measure of his award vest, Cook on Tuesday sold all shares in multiple transactions collectively worth $751.6 million, according to a U.S. Securities and Exchange Commission filing. The executive came away with $354.6 million after Apple withheld $397 million to satisfy tax requirements.
Following this week's selloff, Cook is left with 3,279,726 shares of Apple stock.
Early details of Cook's payday were reported earlier today.
With the 2011 compensation plan now complete, Apple's chief executive has moved to a new RSU grant awarded last September. The new package includes 336,987 RSUs and up to 1,001,961 in performance-based units.
Ahh! So THAT explains Apple's compulsive use of Share BuyBacks -- even to the extent of borrowing money to do it with -- to PROP UP SHARE PRICES AND SHAREHOLDER RETURN.
That kind of thing was at the heart of the 2008 crash: Bank executives knew that they were writing bad loans that would come back to bite them or (hopefully) others -- but they were reaping enormous bonuses by doing it.
Then, instead of holding onto that Apple stock, he sold every share.
So, while Apple corporate buys shares, their CEO sells them!
Now THIS needs investigated -- at least by Apple's board.
But, it may not be necessary, I see Tim retiring in a year or so...
You are a veritable fount of made-up facts combined with wishes.
Leaving side the fact that the primary purpose of the for-profit publicly-traded corporation in the US is to increase shareholder value (and thus shareholder returns), the impact of repurchases on market value has been studied to death. The evidence for share repurchases increasing stock prices in the long run is, at best, iffy. There could be a short term bump (what economists call a 'signaling effect'). It is merely a tax-efficient way to return money to shareholders when corporate cash is burning a hole in s company's pocket, and they dont have a lot of value-creating acquisition or investment opportunities. You can look up all of this stuff, if interested.
Just because people mouth such nonsense on TV a lot doesn't make it true.
Also, Tim is retiring in a year? Where did you see that?
How is giving away money -- to anybody -- good for a corporation? It doesn't matter how it's rationalized and justified. It doesn't matter if they give it the homeless or to fat cat investors. It's mismanagement. of corporate assets.
Yes, investors need and deserve a fair return. But raping a company of the funds it needs to conduct and grow its business is mismanagement.
Yeah, Apple is really suffering from a lack of capital to invest.
/s
get off your soap box George, you’re embarrassing yourself.
No well run company squanders its capital.
Do you take issue with the dividend too?
I don’t think you really understand the purpose of a public company.
To meet stipulations that would release the full allotment, Apple's total shareholder return needed to be in the top third of companies listed on the S&P 500 over a three-year period from Aug. 25, 2018 through Aug. 24, 2021. The company's TSR came out to 191.83%, putting it in 13th place among the 442 companies that remained in the index for the full three years.
Upon seeing the full measure of his award vest, Cook on Tuesday sold all shares in multiple transactions collectively worth $751.6 million, according to a U.S. Securities and Exchange Commission filing. The executive came away with $354.6 million after Apple withheld $397 million to satisfy tax requirements.
Following this week's selloff, Cook is left with 3,279,726 shares of Apple stock.
Early details of Cook's payday were reported earlier today.
With the 2011 compensation plan now complete, Apple's chief executive has moved to a new RSU grant awarded last September. The new package includes 336,987 RSUs and up to 1,001,961 in performance-based units.
Ahh! So THAT explains Apple's compulsive use of Share BuyBacks -- even to the extent of borrowing money to do it with -- to PROP UP SHARE PRICES AND SHAREHOLDER RETURN.
That kind of thing was at the heart of the 2008 crash: Bank executives knew that they were writing bad loans that would come back to bite them or (hopefully) others -- but they were reaping enormous bonuses by doing it.
Then, instead of holding onto that Apple stock, he sold every share.
So, while Apple corporate buys shares, their CEO sells them!
Now THIS needs investigated -- at least by Apple's board.
But, it may not be necessary, I see Tim retiring in a year or so...
You are a veritable fount of made-up facts combined with wishes.
Leaving side the fact that the primary purpose of the for-profit publicly-traded corporation in the US is to increase shareholder value (and thus shareholder returns), the impact of repurchases on market value has been studied to death. The evidence for share repurchases increasing stock prices in the long run is, at best, iffy. There could be a short term bump (what economists call a 'signaling effect'). It is merely a tax-efficient way to return money to shareholders when corporate cash is burning a hole in s company's pocket, and they dont have a lot of value-creating acquisition or investment opportunities. You can look up all of this stuff, if interested.
Just because people mouth such nonsense on TV a lot doesn't make it true.
Also, Tim is retiring in a year? Where did you see that?
How is giving away money -- to anybody -- good for a corporation? It doesn't matter how it's rationalized and justified. It doesn't matter if they give it the homeless or to fat cat investors. It's mismanagement. of corporate assets.
Yes, investors need and deserve a fair return. But raping a company of the funds it needs to conduct and grow its business is mismanagement.
Simple, really. Sometimes, managements believe -- and they may be right -- that shareholders can create more wealth for themselves with the money that belongs to them than the management can do on their behalf. It is the shareholders' money, after all. Also, it's a choice. No one has to accede to the repurchase request if they believed otherwise.
There's no quote 'raping' unquote involved (what an offensive term to use). Apple has plenty of cash left to do whatever the heck it reasonably wants to do. And then some.
That kind of belief is why we lost our steel industry. American executives failed to invest in their companies and Japan ran them out of business.
These days, we whine that we can't compete with China and try to throw roadblocks up in their way -- but we continue to mismanage capital. Globally, it's all free market capitalism and the spoils go to do those who manage their businesses the best. Whining won't get us there -- only good business practices will -- and giving away money is not usually taught as a good business practice, not in any school I've been to.
Mr. Cook received his annual RSU award a few days ago. The SEC filing was made yesterday.
As expected, it's the same as the previous years' award. It's for shares worth $37.5 million (at the time of the grant) that would vest in thirds in April 2024, April 2025, and April 2026. It also includes performance based shares with a target number that's worth $37.5 million (at the time of the grant) and that would vest in October 2024. Depending on Apple's stock performance, Mr. Cook could receive as much as twice the target number of shares.
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I don’t think you really understand the purpose of a public company.
As expected, it's the same as the previous years' award. It's for shares worth $37.5 million (at the time of the grant) that would vest in thirds in April 2024, April 2025, and April 2026. It also includes performance based shares with a target number that's worth $37.5 million (at the time of the grant) and that would vest in October 2024. Depending on Apple's stock performance, Mr. Cook could receive as much as twice the target number of shares.