What should be the worth of becoming the boss of the world’s most innovative company? Well Tim Cook who has just become the CEO of Apple following Steve Jobs’ retirement has been awarded real handsomely for his new role.
According to an SEC filing Tim Cook has been granted 1,000,000 of Apple shares worth $383 million at current price.
“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”
So Cook will have to invest 10 years of his life in Apple to actually gain this bonus with half of his shares vesting on August 24, 2016 and the remaining on August 24, 2021. But I guess it’s not a bad deal for either Cook or Apple. It’s a win-win situation for both. What is your take on that!
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