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  • Tim Cook Awarded $378 Million Pay Package in 2011



    Paydays vary from peanut-filled-cavity-crushing chocolate bars to loads of cash and stock options large enough to weigh down John Corzine’s conscience. Tim Cook's 2011 pay package falls in the latter.

    Apple awarded new Apple CEO Tim Cook an insane pay package worth $378 million dollars. The pay package is composed of 1 million restricted stock units awarded to Cook by Apple worth $376 million, his salary of $900,000 and performance bonuses of another $900,000. This is of course more than Steve Job’s famous salary of $1 a year, which was offset by roughly 5.5 million Apple shares.

    The stock Apple awarded Cook is the largest single payout given by a company in a decade according to Aaron Boyd, head of research at Equilar, an executive compensation data firm. By comparison 2010’s best paid CEO was Viacom head Philippe Dauman who raked in $84.5 million in new shares and stock options via a new contract. Cook’s payday outdoes that pittance by a factor of four.

    As an incentive for Cook to stick around just a bit he will receive half of his shares in 2016 with the other half coming in 2021. It looks like Apple’s CEO will be around for a few years yet.

    Source: BBC
    This article was originally published in forum thread: Tim Cook Awarded $378 Million Pay Package in 2011 started by Phillip Swanson View original post
    Comments 26 Comments
    1. andrewe13's Avatar
      andrewe13 -
      wait if 1 million shares = 377mil $.. then steve jobs 5.5 million shares =2.73 billion$?
    1. hogcia's Avatar
      hogcia -
      Poor Steve Jobs, after all his hard work! Must be rolling over in his grave. Who the heck needs this much money!? Something is wrong with our financial system. Most Americans can't even pay there mortgage.
    1. Jbrooks424's Avatar
      Jbrooks424 -
      Quote Originally Posted by hogcia View Post
      Poor Steve Jobs, after all his hard work! Must be rolling over in his grave. Who the heck needs this much money!? Something is wrong with our financial system. Most Americans can't even pay there mortgage.
      stfu, he's rich, let him be rich... f-in cry baby
    1. UnidH4x0r's Avatar
      UnidH4x0r -
      Quote Originally Posted by Jbrooks424 View Post
      stfu, he's rich, let him be rich... f-in cry baby
      Are you kidding me? His money is coming out of our pockets. With that much money, maybe they could have designed something better then a 4S instead of repackaging the same thing with slight changes.
    1. Zokunei's Avatar
      Zokunei -
      Quote Originally Posted by UnidH4x0r View Post
      Are you kidding me? His money is coming out of our pockets. With that much money, maybe they could have designed something better then a 4S instead of repackaging the same thing with slight changes.
      To be fair it's anyone's choice if they want to give money to Apple or not, it's not like it's taxes.
    1. TorLegend's Avatar
      TorLegend -
      Quote Originally Posted by Jbrooks424 View Post
      stfu, he's rich, let him be rich... f-in cry baby
      Don't be such a tool. You have probably never lived from day to day. He didn't say anything about how he shouldn't have that money, he said something that follows along the lines of, "That is crazy that one person can make so much money when there is some people who can't even pay their bills." I figured I'd reword it so you could understand it. I'm not saying I live day to day, but others do, you might, but doesn't mean you need to be a stuck up *****.
    1. blinden76's Avatar
      blinden76 -
      Rediculous amount of money.
    1. maddawg05's Avatar
      maddawg05 -
      Tesr
    1. broncosi's Avatar
      broncosi -
      why does any individual need this much money?
    1. andygev35's Avatar
      andygev35 -
      Quote Originally Posted by broncosi View Post
      why does any individual need this much money?
      <br><br>Who said anything about needing that much? Do you need that much? Probably not... Would you honestly take that much if it were offered to you? I have no doubt you would.
    1. starkall's Avatar
      starkall -
      What a joke, why would anyone need this much money! I sure hope he does something good with it.
    1. iamutman's Avatar
      iamutman -
      Quote Originally Posted by broncosi View Post
      why does any individual need this much money?
      He got $1.8 million in cash. He received the other $376.2 in stock. It's not like he's going to sell stock in his company anytime soon; that would reflect poorly on a CEO. Sure his income is in the top 0.1% of taxpayers (from the cash alone), but he's also the CEO of the most valuable company in the world.

      Granted yes the fair market value of his compensation is enormous, but performance based compensation is a large factor in CEO compensation because it serves the shareholders as well. It's also primarily a result of an American tax law that limits the deductibility of any executive compensation to the first $1M (excluding any performance based compensation, which is probably why the 2nd $900K was labeled as such). The fact that he is getting a large number of shares of the company with the highest market capitalization shouldn't surprise anyone.
    1. apple_hacker's Avatar
      apple_hacker -
      He has to stay to year 2021 to receive it all.
    1. apple_hacker's Avatar
      apple_hacker -
      Quote Originally Posted by UnidH4x0r View Post
      Are you kidding me? His money is coming out of our pockets. With that much money, maybe they could have designed something better then a 4S instead of repackaging the same thing with slight changes.
      <br>The 4S is total redesign inside & camera!<br>
    1. trevorrawson's Avatar
      trevorrawson -
      Quote Originally Posted by apple_hacker View Post
      <br>The 4S is total redesign inside & camera!<br>
      Thank you! I'm so tired of people saying the 4S isn't anything new. Guaranteed if they put a different back on it that guy would be shouting from the roof tops...
    1. Sanady361's Avatar
      Sanady361 -
      Quote Originally Posted by apple_hacker View Post
      <br>The 4S is total redesign inside & camera!<br>
      Lol, total redesign that looks exactly the same.. Go figure.. Hahahaha
    1. apple_hacker's Avatar
      apple_hacker -
      Quote Originally Posted by Sanady361 View Post
      Lol, total redesign that looks exactly the same.. Go figure.. Hahahaha
      It looks the same but it's not! Mine also 64 gig which is new. Different ant same look same ram but all new inside.
    1. Donnutt's Avatar
      Donnutt -
      Quote Originally Posted by Sanady361 View Post
      Lol, total redesign that looks exactly the same.. Go figure.. Hahahaha
      3GS=Redesign that looked just like its predecessor. That you would expect anything different says how moronic the consumer market can be. Btw, 1.8 million a year based in performance isn't a huge amount of money. And many, many people I know who "can't pay their bills" have iPhones and Droids. Maybe a problem there...
    1. AUZambo's Avatar
      AUZambo -
      I love it when working class people hate on rich people. If you don't like rich people then move to Cuba. If you're going to participate in a capitalistic society (assuming y'all live in America) then just accept the fact that there will be filthy rich people and applaud their success.
    1. PatrickGSR94's Avatar
      PatrickGSR94 -
      damn dawg, lemme get about 150 thou, then I would be totally debt free. Man that would make me FEEL a whole lot richer.