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Tuesday, 10 January 2012 15:59

Apple CEO received $376 million bonus

Written by Nedim Hadzic

apple

Cook’s stock award

In a move that proves that Apple is just peaches, CEO Tim Cook received a one-time stock award of $376 million.

The bonus is said to be the highest by a company in a decade and is supposed to reinforce the image of Apple’s confidence in Cook. Truth be told, Cook indeed has a tough task and some really big shoes to fill.

In its Monday proxy filing, the company confirmed that Cook received 1 million restricted stock units in August, which amounts to the aforementioned figure. Cook is due first half of the award in 2016 and the second in 2021, which Apple describes as a long term incentive.

Apple said:”The Board views his retention as CEO as critical to the Company's success and smooth leadership transition. The RSU award is intended as a long-term retention incentive". Nobody asked Cook yet but we’re sure he’d say something along the lines of Chappelle’s interpretation of Rick James.

More here.


Last modified on Tuesday, 10 January 2012 18:05

Nedim Hadzic

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