Tim Cook's $100 Million Payday
Apple CEO Tim Cook is sitting pretty today as the chief executive of the world's most profitable company. And according to the latest stats served up by compensation tracking firm Equilar, Cook is on pace for a major payday in the coming weeks.
With the first quarter being a very common period for new stock and options to be awarded, older equity grants become vested. As a result, no shortage of top company executives will soon be able to cash in what they have coming.
But no one stands to gain more than Tim Cook, who has portions of two restricted-stock-unit grants vesting in the first quarter of 2012. The Wall Street Journal said Thursday that those vesting interests will be worth approximately $100 million.
Of course, that's not all Cook has to look forward to. The cool $100 million is separate from the one million share units Cook received in late 2011 when he officially replaced Steve Jobs as CEO.
All told, it won't be a bad first quarter for Tim Cook, especially when you compare his anticipated loot to the executive with the second largest vesting stock payday on the list: Google Inc. Executive Chairman Eric Schmidt. The study shows that his two equity awards in the first quarter are valued at just $16.4 million.