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Tim Cook and Eddy Cue Receive Combined $94 Million in Apple Stock

Wednesday August 26, 2015 8:23 am PDT by Joe Rossignol
Apple CEO Tim Cook and Senior Vice President Eddy Cue received 560,000 and 350,000 restricted stock units respectively this week, worth a combined $93.8 million based on AAPL's closing price of $103.12 on Monday, according to a pair of filings with the U.S. Securities and Exchange Commission.

Tim-Cook-Eddy-Cue
Tim Cook and Eddy Cue at an Apple Store in 2014 (Image: Bloomberg)

Cook was awarded with 280,000 performance-based restricted stock units in full based on Apple's performance relative to the other companies in the S&P 500 over a two-year period ending August 24. Apple needed to achieve a total shareholder return (TSR) of at least 41.36% to place in the top third of companies in the index, and Apple's TSR for the two-year period was 76.76%.

Cook and Cue did not sell any of their RSUs, although 290,836 and 171,853 shares were withheld by Apple respectively to satisfy the minimum statutory tax withholding requirements on vesting of RSUs. Cue transferred his remaining 178,147 shares that vested to a family trust, and he has now been awarded all 700,000 shares granted to him on September 2, 2011.

Cook has a remaining 4.76 million RSUs scheduled to vest as follows per the SEC filing:
700,000 RSUs on August 24, 2016; 700,000 RSUs on August 24, 2021; 1,680,000 vest in six equal annual installments commencing August 24, 2016; the remaining 1,680,000 are all subject to performance based vesting requirements and will potentially vest in six annual installments commencing August 24, 2016.
Cook must remain employed at Apple to receive his unvested RSUs on their applicable vesting dates.

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Tags: Tim Cook, Eddy Cue, AAPL, SEC
[ 177 comments ]


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AngerDanger
49 months ago
And then they arm wrestled to see who'd get the lot of it.



Rating: 48 Votes
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iSlave
49 months ago

What do you even do with all of that money is beyond me.



Have a little chuckle at the cheap Foxconn staff that enabled your fortune?
Rating: 22 Votes
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Dargoth
49 months ago

What do you even do with all of that money is beyond me.

There hasn't been born a single person who can't think of something to do with 94 million dollars. If you had it, you'd have no trouble finding a use for it. The lottery has proven that time and time again, although the key is to know when to stop spending. ;)
Rating: 11 Votes
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69Mustang
49 months ago

What do you even do with all of that money is beyond me.

Hookers and blow. Lot's of 'em both. And a capuchin monkey.:cool::p
Rating: 11 Votes
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rdlink
49 months ago

I bet they could even retire if they wanted.:rolleyes:o_O


If they are careful with their money, and clipped coupons.
Rating: 10 Votes
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Kaibelf
49 months ago

They timed that suspiciously well.


Implying? It's stock, not money. It changes value anyway. The number of shares was based on company performance, which is strong, obviously.
Rating: 9 Votes
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magicschoolbus
49 months ago
What do you even do with all of that money is beyond me.
Rating: 8 Votes
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unplugme71
49 months ago

They timed that suspiciously well.


Umm... what?

It's not like they bought (using their cash) the shares at the lower value.

It doesn't matter if the value of the RSU was a penny or 10 million per share, its only worth what you cash it out as.

Now if they contacted the SEC to sell it and were able to move the stock price up around their scheduled sale date, then I can see this being suspicious. But that was NOT the case here.
Rating: 6 Votes
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ProwlingTiger
49 months ago
Despite what people may say, Apple is doing very well under Cook. Sure I'm encountering a lot of software bugs that simply shouldn't be there in every release of iOS 8 and some in Yosemite and El Capitan (yes I realize it is still beta). And there are some design/function decisions I disagree with. But as someone recently once told me "we will fill the position when we find the right candidate," I remembered that OS X developers were pulled from iOS and thus OS X (one of the versions) was delayed. This means that Apple at its heart is still a small company striving for quality work. And I admire that.
Rating: 6 Votes
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newdeal
49 months ago
I knew something like this was coming when Cook put out a statement to calm the drop in Apple stock...that was so rare for Apple that it could only have been self serving
Rating: 6 Votes

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