Tim Cook Gets $383 Million Bonus From Apple Board [Apple Board Of Directors Rewards Steve Jobs' Replacement 1,000,000 Shares Of Apple Stock, If He Stays With Company For 10 Years]

Tweet

Apple is one of the most valuable companies of the world, and you might expect that being the top man at the company would be a pretty well-paying job. And, it is. Today, Apple filed an 8-K form with the US Securities and Exchange Commission, notifying them that the Apple board of directors had awarded Tim Cook 1,000,000 restricted shares of Apple stock. With a street value of over $383 million, not a bad signing bonus, eh?

Corporate boards like executives who hold large ownership stakes in the companies they work for, hence the big stock reward. It gives Cook an incentive to see Apple do well (not that he wouldn’t otherwise, but it’s pretty par for the course). They are restricted shares though, meaning they don’t vest until a certain period of time. Cook has to stay onboard until August 24, 2016 to get 500,000 shares, and another five years after that to get the other 500,000 shares. It’s more or less a pair of “golden handcuffs” to ensure that Cook sticks around, and to tie his financial fate to that of Apple.

Tim Cook has already been handsomely rewarded by the Apple Board of Directors over the years. He has been compensated heavily for acting as interim CEO for Steve Jobs, and was rewarded in $58 million in salary and stock last year. What do you think about Cook as CEO? Is he worth a $380 million bonus? Or is that too much money for one man? Tell us about it in the comments section.

Tweet

You may also like:

Apple Top Execs to Get $60 Million Bonus Each For Sticking...

Tim Cook vs Steve Jobs: Whose Apple Is Better?...