Apple CEO Tim Cook Set to Reap Nearly $100 Million in Vesting Stock This Quarter

tim cook headshotThe Wall Street Journal reports that data from executive compensation tracking firm Equilar shows Apple CEO Tim Cook set to see a major windfall during the first quarter of 2012 with the vesting of two separate restricted stock unit grants currently valued at nearly $100 million.

Of all the Silicon Valley executives who have a vesting event scheduled for the first quarter of 2012, the one who stands to reap the most is Apple Inc. Chief Executive Tim Cook, the study found.

Mr. Cook has portions of two restricted-stock-unit grants—including one he received for filling in for Steve Jobs when the co-founder was on medical leave—vesting in the first quarter. As of Apple's closing stock price on Dec 30, those vesting shares of Mr. Cook's were worth $96.2 million, according to the study.

The majority of the amount comes from a grant of 200,000 restricted stock units awarded to Cook in September 2008 as part of a package of retention bonuses paid out to Apple executives. That grant will vest on March 24th and is worth $83 million at today's stock price.

The remaining portion comes from a grant awarded in March 2010 in recognition of Cook's service while Steve Jobs was on a medical leave of absence during the first half of 2009. That bonus included $5 million in cash and 75,000 restricted stock units. The second half of those stock units, worth $15.5 million at today's stock price, will vest on March 10th. The first portion of that grant vested on March 10th of last year and would have brought Cook approximately $13 million.

The vesting stock is separate from an award of one million share units given to Cook as he officially took on the role of CEO. That grant is worth $415 million at today's stock price, but will not vest for a number of years. Cook will receive half of the shares in 2016 and the remainder in 2021, with both events contingent upon Cook remaining CEO of Apple.

Top Rated Comments

basesloaded190 Avatar
120 months ago
It's more difficult, sure.. but it isn't several orders of magnitude more difficult. I have to admit the way people like you deify the work of people like Cook is fairly amusing... what they do isn't all that difficult; you just need to be intelligent, diligent, and well-versed in your area of expertise.

There are hundreds of thousands (likely millions) of Americans who could do what Tim does.

You had me until there.
Score: 10 Votes (Like | Disagree)
MacSince1990 Avatar
120 months ago
And he's worth it, too.



If you read the article, it's stock from 2008. Also, his work is a bit more difficult than the average American's.

It's more difficult, sure.. but it isn't several orders of magnitude more difficult. I have to admit the way people like you deify the work of people like Cook is fairly amusing... what they do isn't all that difficult; you just need to be intelligent, diligent, and well-versed in your area of expertise.

There are hundreds of thousands (likely millions) of Americans who could do what Tim does.
Score: 10 Votes (Like | Disagree)
rmwebs Avatar
120 months ago
Cha-ching!

I guess the drinks are on Tim tonight then! :cool:

IMO he deserves it - he's made notable change for the good over the last few months.
Score: 10 Votes (Like | Disagree)
MacSince1990 Avatar
120 months ago
You had me until there.

There are 300,000,000 Americans. You really don't think that 1 in 10,000 (conservatively) has the potential to do what he does? Just because someone's a doctor, or a lawyer, or a musician or an artist or a professor doesn't mean they're incapable of being exceptionally good at anything else.
Score: 9 Votes (Like | Disagree)
soco Avatar
120 months ago
So has Mandella... but I don't recall him being compensated with the equivalent of the average lifetime earnings of 100 Americans for three months of work >_>
Pfft, Mandella shmandella. He never gave me an antenna with spatial diversity. Besides, I'm more concerned with the next Angry Birds. ;):rolleyes:

#firstworldpriorities
Score: 9 Votes (Like | Disagree)
MacSince1990 Avatar
120 months ago

IMO he deserves it - he's made notable change for the good over the last few months.

So has Mandella... but I don't recall him being compensated with the equivalent of the average lifetime earnings of 100 Americans for three months of work >_>
Score: 9 Votes (Like | Disagree)

Top Stories

iphone 6 in hand

Apple Faces Another iPhone Lawsuit Over 'Programmed Obsolescence'

Monday March 1, 2021 6:44 am PST by
Apple faces a new class-action lawsuit that accuses it of deliberately releasing iOS updates that slowly reduce the performance of an iPhone, forcing customers to upgrade their devices. The lawsuit comes from the Portuguese Consumer Protection Agency, Deco Proteste (via Marketeer), which in a statement says that it will proceed with a case against the Cupertino tech giant because it...
PIA23764 RoverNamePlateonMars web

NASA Mars Perseverance Rover Uses Same PowerPC Chipset Found in 1998 G3 iMac

Tuesday March 2, 2021 3:21 am PST by
NASA's Perseverance rover, which recently made history landing on the surface of Mars, is powered by the same processor used in an iMac more than 23 years old. Image Credit: NASA As reported by NewScientist (via Gizmodo), the rover includes the PowerPC 750 processor, the same chip used in the G3 iMac in 1998. The main chipset is the same; however, there are differences between the...
magsafe charging brick feature

Prosser: iPhone 12 MagSafe Battery Pack to Feature Reverse Charging

Monday March 1, 2021 1:18 pm PST by
Apple is working on MagSafe-compatible battery packs that will be compatible with the iPhone 12 models, and leaker Jon Prosser today said on the Genius Bar podcast that one version of the battery pack will feature "reverse charging." According to Prosser, Apple is working on two versions of the battery packs, one that's a standard version and one that's a premium version with reverse...
rosetta 2

Rosetta May Be Removed From M1 Macs in Some Regions on macOS 11.3

Tuesday March 2, 2021 5:20 pm PST by
Installing the upcoming macOS 11.3 software update on an M1 Mac may result in Rosetta 2 being removed in one or more regions around the world. In the third beta of macOS 11.3 seeded to developers for testing today, MacRumors contributor Steve Moser uncovered new strings in the beta's code indicating that "Rosetta will be removed upon installing this update." Another new string reads "Rosetta ...
iphone 12 pro display video

iPhone 13 to Include 1TB Storage Option and LiDAR Across the Board, Says Wedbush Analyst

Monday March 1, 2021 4:00 am PST by
Apple's forthcoming iPhone 13 could include a 1TB storage option for some models and LiDAR Scanners across the entire lineup, according to a report from Wedbush analysts. In a new note to investors, seen by MacRumors, Wedbush analyst Daniel Ives said that initial Asian supply chain checks gave the firm "increased confidence" that Apple's 5G-driven product cycle would extend well into 2022,...
Apple Prefer Lightning Over USB C Feature

iPhone Sticking With Lightning Port Over USB-C for 'Foreseeable Future'

Tuesday March 2, 2021 9:32 am PST by
Apple will retain the Lightning connector on the iPhone for the "foreseeable future," with no intention of switching to USB-C, according to reliable analyst Ming-Chi Kuo. In spite of much of the industry moving toward USB-C, Apple will not be using it to replace the Lightning connector on the iPhone 13, or indeed on any iPhone model for the time being. In a note seen by MacRumors yesterday,...
iphone 12 120hz thumbnail feature

Kuo: iPhone 13 Lineup to Feature Smaller Notch and Larger Batteries, 120Hz Display for Pro Models, and More

Monday March 1, 2021 7:50 am PST by
iPhone 13 models will all feature a smaller notch, while the two Pro models will be equipped with low-power LTPO display technology for a 120Hz refresh rate, analyst Ming-Chi Kuo said today in a research note obtained by MacRumors. Subscribe to the MacRumors YouTube channel for more videos. Several other sources have previously claimed that some iPhone 13 models will support a 120Hz refresh...
Screen Shot 2021 03 03 at 11

MagSafe Charging Port for iPhone Appears in Apple Patent

Wednesday March 3, 2021 1:30 am PST by
In a newly granted patent, Apple envisions a type of connectivity port using an iteration of its magnetic MagSafe charger to charge an iPhone, potentially paving the way for a future without Lightning. Submitted to the United States Patent and Trademark Office on Tuesday (via Patently Apple), the patent outlines a three-pinned MagSafe charger, similar to the ones found in older MacBook...
apple transfer google photos 1

Apple Launches Service for Transferring iCloud Photos and Videos to Google Photos

Wednesday March 3, 2021 12:04 pm PST by
Apple this week introduced a new service that's designed to make it quick and easy for iCloud users to transfer their stored photos and videos to Google Photos. As outlined in an Apple support document, you can go to Apple's privacy website and sign in to see the "Transfer a copy of your data" option. If you select this and go through all the steps, Apple will transfer your iCloud photos and ...
galaxy s21 iphone 12 pro max front feature2

Kuo: Some 2022 iPhones to Abandon Notch in Favor of 'Punch-Hole' Display

Monday March 1, 2021 8:05 am PST by
At least some 2022 iPhone models will abandon the notch and switch to a "punch-hole display design" instead, similar to Samsung's recent high-end Galaxy smartphones, analyst Ming-Chi Kuo said today in a research note obtained by MacRumors. Kuo said the hole-punch display design will be adopted by high-end 2022 iPhones at a minimum, and if production yields are good enough, all 2022 iPhone...