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Tim Cook Cashes in $3.6 Million in Stock as Respected Analyst Gives Him Passing Grades
Apple CEO Tim Cook sold 30,000 shares of Apple stock this week, valued at $3.6 million based on the company's stock price of $120 at the time of the transactions, according to a U.S. Securities and Exchanges Commission disclosure. The shares were sold as scheduled pursuant to Cook's predetermined trading plan.
Cook retains 1,009,809 company shares worth over $121 million based on Apple's current stock price following the sale.
A recent SEC filing revealed Cook was paid $8.7 million in 2016, which is $1.5 million less than he was paid in 2015. The decrease stems from Apple failing to meet its own target performance goals for both net sales and operating income in 2016, resulting in senior executives receiving only 89.5% of their cash incentives.
However, upon reaching his fifth anniversary as Apple CEO last year, Cook cashed in nearly $137 million in previously-awarded stock bonuses tied to both his tenure and Apple's performance under his leadership. Accordingly, after bonuses, Cook actually earned roughly $145 million last year, his biggest payout yet.
Yesterday, Apple analyst Neil Cybart opined that Cook and his inner circle are "doing what needs to be done in order to maintain Apple's relevancy," but he noted "there is room for improvement." He called out sporadic Mac and iPad updates, and slow progress with Siri, as two blemishes among others in its product strategy.
Cook retains 1,009,809 company shares worth over $121 million based on Apple's current stock price following the sale.
A recent SEC filing revealed Cook was paid $8.7 million in 2016, which is $1.5 million less than he was paid in 2015. The decrease stems from Apple failing to meet its own target performance goals for both net sales and operating income in 2016, resulting in senior executives receiving only 89.5% of their cash incentives.
However, upon reaching his fifth anniversary as Apple CEO last year, Cook cashed in nearly $137 million in previously-awarded stock bonuses tied to both his tenure and Apple's performance under his leadership. Accordingly, after bonuses, Cook actually earned roughly $145 million last year, his biggest payout yet.
Yesterday, Apple analyst Neil Cybart opined that Cook and his inner circle are "doing what needs to be done in order to maintain Apple's relevancy," but he noted "there is room for improvement." He called out sporadic Mac and iPad updates, and slow progress with Siri, as two blemishes among others in its product strategy.
In attempt to add a bit of relative context to this subjective grading:In related shareholder news, the world's largest asset manager BlackRock has increased its stake in Apple and now holds 6.1% of outstanding shares in the company, up from 5.7% a year ago. Its 322,683,504 shares are valued at over $38.7 billion based on Apple's current stock price.
• Product Strategy: A-
• Product Pipeline/R&D: A
• Operations: B-
• Marketing/Storytelling: C+
• Culture: B+
• Public Face: A+
• Financials: B
[ 207 comments ]
Top Rated Comments
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27 months ago
A- for product strategy,
Explain yourself,
A+ for public face, really???
'AirPods (that are repeatedly back ordered because supply is super weak) are a runaway success'
Pffft, puff piece report card,
Explain yourself,
A+ for public face, really???
'AirPods (that are repeatedly back ordered because supply is super weak) are a runaway success'
Pffft, puff piece report card,
27 months ago
Product pipeline/R&D has "A" grade?
Who are we kidding?
3 year old design iPhone, overpriced MacBook Pro that is not Pro...
Who are we kidding?
3 year old design iPhone, overpriced MacBook Pro that is not Pro...
27 months ago
Product Strategy: A-
Product Pipeline/R&D: A
Based on what??? Its a complete secret..........if it exists.
In my opinion he get a healthy pass, though that is cause he keeps bringing in the profits, so financials should be A for milking the existing product line and maximising profits.
Though to give him an A- and A for words.......please.
Product Pipeline/R&D: A
Based on what??? Its a complete secret..........if it exists.
In my opinion he get a healthy pass, though that is cause he keeps bringing in the profits, so financials should be A for milking the existing product line and maximising profits.
Though to give him an A- and A for words.......please.
27 months ago
Tim, I don't care how much money you make or cash in. Just get your act together and make the Mac great again. Desktops, laptops and peripherals (the ecosystem) need big time love. Don't go down in history as the guy who killed the Mac.
27 months ago
Easy to get a passing grade when you're still turning in homework done for you by a product and marketing genius 5 years ago.
27 months ago
'AirPods (that are repeatedly back ordered because supply is super weak)
Do you understand how supply and demand works?
27 months ago
"Product Pipeline/R&D: A"
Hahahahaha.
I assume this is based on Tim's *promises* about the contents of aforementioned clogged pipeline? "We have been thinking about Mac desktops last week for a few minutes" – ooh, that deserves a high grade!
Hahahahaha.
I assume this is based on Tim's *promises* about the contents of aforementioned clogged pipeline? "We have been thinking about Mac desktops last week for a few minutes" – ooh, that deserves a high grade!
27 months ago
And nice strawman, for an argument. I'll bite, though. Let's break it down:
1) There aren't any sales numbers released yet, let alone how many are being manufactured. So for you to say "if Foxconn is only making x amount..." is utterly hypothetical.
2) No company would deliberately withhold stock or not increase manufacturing numbers to somehow artificially boost hype. People have been saying the same things about Apple for years, because that's a much easier paranoid conspiracy to grip, rather than the obvious answer: Apple's products are pretty darn popular.
3) Foxconn don't even manufacture AirPods, it's Inventec. And there was a recent article about them increasing manufacturing to cope with the ludicrous demand: https://www.macrumors.com/2016/12/30/airpods-increasing-production/
He’s been a Supply. Chain. Genius., for years. Thought he’d have mastered it by now.
27 months ago
I think the analyst and I have different interpretations of what Product strategy and product pipeline mean.
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