Friday, August 26, 2011

Tim Cook gets 1,000,000 AAPL shares if he stays through 2021

As noted by MacRumors, Apple has filed a form 8-K with the SEC to announce this week’s changes to Apple’s executive board. Notably, Apple has awarded 1,000,000 stock shares to new CEO Tim Cook.

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.

That comes out to around $383M at the current stock price.

*thanks 9to5mac*

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- Posted using my iPhone 4

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