Tim Cook Can Buy Your Dreams, Compensation Includes Millions in Stock Options
"Steve. I know. You're worth, like, a gadgillion dollars."
Tim Cook, Apple's freshly appointed CEO, has deservedly earned a raise and a few perks.
One million perks to be exact. And by perks, I mean shares of Apple's stock. Tim Cook, if he stays around to lead Apple through 2021, will be the proud owner of 1 million shares of Apple stock.The 8-K filing, a little document public companies must submit after major changes, puts into official legal speak what the Interwebs has been abuzz with the last few days.
Inside the details of the 8-K Cook's compensation is outlined, and in it are two phases of stock options, each worth 500,000 shares, one to be vested in 2016 and the next to be vested in 2021. These options, at today's market value, would be worth $383 million if Cook were able to collect them tomorrow. And if the tear Apple has been on keeps up, Cook might be his own walking, talking stimulus package.
Source: PC World