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New Apple CEO Tim Cook Awarded 1 Million Shares of Stock

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Apple is already the largest company on earth in terms of stock valuation, having exceeded that of oil giant Exxon Mobil, as of the end of today’s trading day. With the resignation of Steve Jobs, new CEO Tim Cook has been rewarded 1 million shares of Apple stock, as revealed in a form 8-K filing with the SEC.

This filing noted the recent changes in Apple’s corporate structure to investors, and also disclosed an interesting bonus award of stock shares to Tim Cook:

In connection with Mr. Cook’s appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units. Fifty percent of the restricted stock units are scheduled to vest on each of August 24, 2016 and August 24, 2021, subject to Mr. Cook’s continued employment with Apple through each such date.

In this case, Tim Cook will receive half the shares by 2016, and the remaining half million when August 2021 rolls around. These restricted stocks are implemented to provide incentive for Cook to stick around with Apple for the next decade in order to get paid.

Given Apple’s strong stock performance, and dominance of mobile markets, I don’t think Tim will be going anywhere for a while.

[via MacRumors]

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  • so does that mean that he will have 400 millions dollars in bank in 2021 if he is still with Apple and if the stock value does not go down? wow!!! 

  • Joel Slugoski

    I would’ve liked to see Steve Wozniak Be CEO more then Tim Cook after all Wozniak is the Co-Faounder of Apple not Cook. I only hope Jobs still dose the Keynotes cause the keynotes won’t be the same without Jods as Host.

  • Bekk45

    dude, have you seen the recent pictures of steve jobs?

    he looks to be in very bad shape. doubt he will ever return to apple.

  • Bekk45

    dude, have you seen the recent pictures of steve jobs?

    he looks to be in very bad shape. doubt he will ever return to apple.

  • Nevermind one million shares, I’d love to have a million dollars!

  • Auto Strada

    …and what many people forget is that Cook has been pretty much running Apple for the last 6 months or so.

    The Woz would’ve been great due to his history. But he made his intentions clear when he decided to retire. I’d rather have someone with the same drive, passion and determination as Jobs at the helm.

  • beavisaur

    Isn’t it weird that they picked someone who looks just like Steve. 
    This guy looks like he’s right on the brink of getting cancer too.

  • Auto Strada

    Cancer’s one of those things you never say in passing or joke about.

    If you’ve ever lived with 2 family members who lived with and died from it, you’ll know why.

  • Auto Strada

    Cancer’s one of those things you never say in passing or joke about.

    If you’ve ever lived with 2 family members who lived with and died from it, you’ll know why.

  • Mitch

    your an idiot

  • Mitch

    your an idiot

  • Mitch

    your an idiot

  • Mitch

    your an idiot

  • MrAnonymous

    We all know what happened to Apple when Steve got ousted in mid 90’s.  Let’s hope history doesn’t repeat itself.

  • MrAnonymous

    We all know what happened to Apple when Steve got ousted in mid 90’s.  Let’s hope history doesn’t repeat itself.

  • MrAnonymous

    We all know what happened to Apple when Steve got ousted in mid 90’s.  Let’s hope history doesn’t repeat itself.

  • MrAnonymous

    But does he have Steve’s creative vision that has driven Apple to where it is now?  That has yet to be seen.

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