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1,000,000 Shares of APPLE Stock to the new CEO..

Cha Chingggggggggg

:pimp:pimp:pimp

http://www.macrumors.com/2011/08/26/...-as-ceo-bonus/

Quote:

Apple filed a form 8-K with the SEC because of the changes in corporate leadership at the company. An 8-K is the ?current report? companies must file with the SEC to announce major events that shareholders should know about.

In this case, the form notifies investors of the resignation of Steve Jobs as CEO; Jobs' appointment as Chairman of the Board; COO Tim Cook's promotion to CEO; and the appointment of Cook to the Board.

Additionally:
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.
This stock award is worth just over $383 million at current prices.

A restricted stock unit, or RSU, is a form of compensation valued in terms of company stock, but the stock is not issued at the time of the grant. In Cook's case, he's getting a promise from Apple to deliver him 500,000 shares of Apple stock in 2016, and 500,000 more shares in 2021 ? as long as he stays employed at the company.

In 2010, as COO, Tim Cook received $58 million in salary, bonus and other stock awards.

See it pays to move the factory jobs fron CA to China

damn, chi-ching indeed :thumbsup

It seems to me that says Apple has until 2016 to decide if he is worth a 150M bonus... if not they fire him before the shares vest. Keeping shares at all time highs and keeping people with unrealistic expectations happy for four years is not an easy task. :2 cents:

he will make way more than that in bonuses each year.

some super serious cash in apple

To put it in perspective, that guy is now responsible for close to $80 billion in cash and all of the Apple revenue.

Seems like a fair compensation package to me.

I've no interest in counting other people's money....

Meanwhile the people who do the actual work get nothing.

Quote:

Originally Posted by twistyneck (Post 18383099)

Meanwhile the people who do the actual work get nothing.

They get the wage they agreed to work for. Just like the new CEO.

By 2021, his position will be worth many billions of dollars. Thats the first case I can think of where a CEO would become a billionaire from running a company he did not start/found.