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Tim Cook and Eddy Cue Receive Thousands of Shares of Apple Stock, Cue Nets Over $12M

timcookTwo Apple executives received vested restricted stock units (RSU) last week, according to documents filed with the SEC. Apple CEO Tim Cook received 72,877 shares of Apple stock as part of the RSU award from when he was promoted to CEO two years ago. However, earlier this year Apple's board decided to modify the award to be more performance based and this vesting was part of that process.

Cook had 38,028 shares of stock withheld for tax purposes, while the remaining 34,849 shares -- worth nearly $19.5 million -- he will continue to hold.

Senior Vice President Eddy Cue vested 50,000 shares with roughly half withheld for taxes and the other half sold for a net gain of roughly $12.4 million.

The RSU award is part of the 100,000 shares Cue received as a bonus when he was promoted to Senior Vice President of Internet Software and Services in 2011. Half of those shares vested on August 24, 2013 while the second half will vest two years later in 2015 if Cue is still with the company.

After the vesting, Tim Cook holds 87,316 shares of Apple stock worth more than $43 million at current prices. As of last winter, senior Apple executives and board members are required to hold multiples of their base salary in Apple stock. The company decided to implement that requirement to satisfy the concerns of some large institutional Apple stockholders including CALPERS, the California Public Employees' Retirement System.

A prior version of this article incorrectly stated that Tim Cook and Eddy Cue exercised stock options rather than receiving shares via vesting RSUs.

Top Rated Comments

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14 months ago

More like Tim ¢rook


You must make less than him.
Rating: 5 Votes
14 months ago

More like Tim ¢rook


Why? Because he's wealthy? Did he steal from you or something?
Rating: 4 Votes
14 months ago
More like Tim ¢rook
Rating: 3 Votes
14 months ago

Heh, that explains why AAPL is down today.


More likely the Syrian situation. Entire market fell today on war jitters: http://www.reuters.com/article/2013/08/27/us-markets-global-idUSBRE96S00E20130827

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Why? Because he's wealthy? Did he steal from you or something?


Clearly he stole the guys "c" key. And also because he thinks he's being original and ¢lever :D
Rating: 3 Votes
14 months ago

Heh, that explains why AAPL is down today.


AAPL traded 15.15 million shares today. I doubt Tim & Eddy made much of a difference. All the markets were down.
Rating: 2 Votes
14 months ago
I never understand why comments are opened on these kinds of news stories or why they are even posted for that matter.
Rating: 2 Votes
14 months ago
Yay performance benchmarks!
Rating: 1 Votes
14 months ago

I question the relevance of the news to a Mac-focused rumors site. Sidebar maybe. Page 2 sure. But the legal exercise of awarded stock options simply doesn't inform us about product and technology developments at Apple. I think it should not be Page 1.

It is on the sidebar -- the Mac Blog. If you view it on a mobile device, it shows inline with the front page for space reasons.
Rating: 1 Votes

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