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

by

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

(View all)
Avatar
91 months ago

More like Tim ¢rook


You must make less than him.
Score: 5 Votes (Like | Disagree)
Avatar
91 months ago

More like Tim ¢rook


Why? Because he's wealthy? Did he steal from you or something?
Score: 4 Votes (Like | Disagree)
Avatar
91 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

----------

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
Score: 3 Votes (Like | Disagree)
Avatar
91 months ago
More like Tim ¢rook
Score: 3 Votes (Like | Disagree)
Avatar
91 months ago
I never understand why comments are opened on these kinds of news stories or why they are even posted for that matter.
Score: 2 Votes (Like | Disagree)
Avatar
91 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.
Score: 2 Votes (Like | Disagree)

Top Stories

Apple Announces New 27-Inch iMac With 10th-Gen Processors, Up to 128GB RAM, 1080p Webcam, True Tone, and More

Tuesday August 4, 2020 8:07 am PDT by
Apple today announced a new 27-inch iMac with faster 10th-generation Intel Core processor options, next-generation AMD graphics, up to 128GB of RAM, a higher-resolution 1080p front-facing FaceTime camera, a True Tone display with a nano-texture glass option, a T2 chip, higher fidelity speakers, studio-quality microphones, and more. A breakdown of the new 27-inch iMac's features and specs:10th...

8 Third-Party Home Screen Widgets That You Can Try Out Now on iOS 14

Wednesday August 5, 2020 12:56 pm PDT by
One of the biggest new features of iOS 14 is Home Screen widgets, which provide information from apps at a glance. The widgets can be pinned to the Home Screen in various spots and sizes, allowing for many different layouts. When the iOS 14 beta was first released in June, widgets were limited to Apple's own apps like Calendar and Weather, but several third-party developers have begun to test ...

Everything New in iOS 14 Beta 4: Apple TV Widget, Search Improvements, Exposure Notification API and More

Tuesday August 4, 2020 11:14 am PDT by
Apple today released the fourth developer betas of iOS and iPadOS 14 for testing purposes, tweaking and refining some of the features and design changes included in the update. Changes get smaller and less notable as the beta testing period goes on, but there are still some noteworthy new features in the fourth beta, which we've highlighted below. - Apple TV widget - There's a new Apple TV...

Apple May Launch This Year's 'iPhone 12' Lineup in Two Stages, With 6.1-inch Models Debuting First

Monday August 3, 2020 3:14 am PDT by
Apple last week confirmed that its "‌iPhone‌ 12" launch will be delayed this year due to the ongoing global health crisis and restrictions on travel. Apple last year started selling iPhones in late September, but this year, Apple projects supply will be "available a few weeks later," suggesting a release sometime in October. We're expecting a total of four OLED iPhones in 5.4, 6.1, and...

Apple Explains Why You Might See 'Not Charging' When a Mac is Plugged In

Monday August 3, 2020 1:42 pm PDT by
If you have a Mac and have seen a "Not Charging" warning when plugging it in to power, Apple last week released a support document that explains why. Macs running macOS 10.15.5 or later have a Battery Health Management feature to preserve the life of the battery, and occasionally, the Battery Health Management option will cause the Mac to pause its charging for calibration purposes.Depending ...

Supposed iPhone 12 Display Unit Leaks

Thursday August 6, 2020 8:13 am PDT by
An image supposedly of an iPhone 12 display unit has been shared online by leaker "Twitter user Mr. White". Compared to images of an iPhone 11 Pro display piece, this new unit has a reoriented display connector, reaching up from the bottom of the display, rather than from the left-hand side on iPhone 11 Pro. This may be due to the logic board moving to the other side of the device. A...

Google's $349 Pixel 4a vs. Apple's $399 iPhone SE

Wednesday August 5, 2020 1:45 pm PDT by
Google this week launched its newest smartphone, the $349 Pixel 4a, a low-cost device that's designed to compete with other affordable devices like Apple's iPhone SE. We picked up one of the new Pixel 4a smartphones and thought we'd check it out to see how it measures up to the iPhone SE, given that the two devices have such similar price points. Subscribe to the MacRumors YouTube channel ...

Apple-Acquired Dark Sky Officially Shuts Down Android App

Saturday August 1, 2020 3:43 pm PDT by
Apple in March purchased weather app Dark Sky, and at that time, Dark Sky's developers said that the app's Android version would be discontinued on July 1, 2020. However, instead of shuttering the app on that date, the app's developers announced that the discontinuation would be delayed for another month. Now that it's August, Android users are no longer able to access the app, and...

Samsung Launches Galaxy Note 20, Galaxy Z Fold 2, and Galaxy Buds to Compete With Apple's iPhones and AirPods Pro

Wednesday August 5, 2020 10:07 am PDT by
Samsung today held a virtual Galaxy Unpacked event where it unveiled its next-generation smartphones that will compete with Apple's 2020 iPhone lineup, set to come out in the fall. Samsung announced the launch of the Galaxy Note 20 and the Galaxy Note 20 Ultra, the two newest devices in the Note lineup, and, more notably, the Galaxy Z Fold 2, Samsung's latest foldable smartphone. The...

Alleged 'iPhone 12' Images Depict Circular Array of Magnets in Chassis

Wednesday August 5, 2020 4:39 am PDT by
New images shared on Weibo appear to show a circular array of magnets housed inside an "iPhone 12" chassis. The unverified images depict 36 individual magnets in a circular arrangement, suggesting they could be related to mounting or charging. EverythingApplePro, who shared the Weibo-originating images on Twitter, also posted an image of an alleged iPhone 12 case with a similar array of...