Tim Cook Poised to Receive Around $120 Million in Apple Stock as Tenure and Performance Award

Apple CEO Tim Cook is poised to receive 560,000 shares of Apple stock on Friday, worth approximately $120.4 million based on Tuesday's closing price of $215.04. The two-part award is tied to Cook's continued service as CEO, and Apple's relative performance on the stock market under his leadership.

tim cook celebrates
The total includes the vesting of 280,000 restricted stock units for Cook remaining CEO over the past year, and the vesting of another 280,000 restricted stock units for Apple achieving a higher shareholder return than at least two-thirds of other companies in the S&P 500 over the past three years.

Apple's total shareholder return was 119 percent from August 25, 2015 through Tuesday's closing bell, outperforming more than 80 percent of firms in the S&P 500, according to Bloomberg. So, unless Apple suffers a major collapse on the stock market in the next 48 hours, Cook will receive all 560,000 shares.

Cook receives these annual awards as part of a grant he received upon succeeding the late Steve Jobs as CEO of Apple in 2011.

Cook will receive an additional 560,000 shares in each of the next three years if he remains CEO, and Apple's total shareholder return continues to rank among the top-third of companies in the S&P 500. He is also set to receive a lump sum of 700,000 tenure-based shares on August 24, 2021, as part of his grant.

Cook also receives a $3 million salary and earned a $9.33 million cash bonus in 2017, according to Bloomberg.

Cook now has a net worth of around $700 million, according to Bloomberg, but has previously said he plans to give away most of his wealth. Just this week, an SEC filing revealed that Cook recently donated 23,215 shares of Apple stock to charity, worth nearly $5 million based on Tuesday's closing price.

Apple became the world's only trillion dollar publicly traded company, in terms of market capitalization, earlier this month.

Tags: Tim Cook, AAPL

Top Rated Comments

pier Avatar
60 months ago
And yet the Mac is in its worst shape probably since the Scully era.
Score: 64 Votes (Like | Disagree)
Macatize Avatar
60 months ago
I love the picture for this article.
Score: 55 Votes (Like | Disagree)
AngerDanger Avatar
60 months ago
I love the picture for this article.
I like how the low contrast between the shirt and background makes it looks like you're supposed to chroma-key them out.

Score: 52 Votes (Like | Disagree)
KPandian1 Avatar
60 months ago
Escalating scale of salary not just tied to the stock price, but more to the disappointment of the customers in all the products, items returned for service and how pissed off the Apple fans get year-on-year.
Score: 36 Votes (Like | Disagree)
jonnyb098 Avatar
60 months ago
And yet the Mac is in its worst shape probably since the Scully era.
In the Scully era, the mac was near 100 percent of their business and Apple wasn't the richest company and top brand on the planet. Now mobile devices like iPhone and iPad make up over 70 percent of their business. Times change, get used to it. Adapt or move along.
Score: 18 Votes (Like | Disagree)
taptic Avatar
60 months ago
Well, I certainly can't think of anyone that deserves it more!

</SARCHASM^3>
Score: 17 Votes (Like | Disagree)

Popular Stories

maxresdefault

Apple Announces WWDC 2023 Event Taking Place June 5 to 9

Wednesday March 29, 2023 9:58 am PDT by
Apple today announced that its 34th annual Worldwide Developers Conference will take place from Monday, June 5 to Friday, June 9. Like WWDC 2020, 2021, and 2022, WWDC 2023 will be an online event for the most part, and it will be open to all developers at no cost. Subscribe to the MacRumors YouTube channel for more videos. Apple will provide online sessions and labs, which will allow...
iPhone 15 Pro Buttons CAD Leak

iPhone 15 Pro Low-Energy Chip to Allow Solid-State Buttons to Work When Device is Off or Out of Battery

Wednesday March 29, 2023 1:54 am PDT by
The iPhone 15 Pro and Pro Max will use a new ultra-low energy microprocessor allowing certain features like the new capacitive solid-state buttons to remain functional even when the handset is powered off or the battery has run out, according to a source that shared details on the MacRumors forums. CAD-based render of new solid-state buttons on iPhone 15 Pro models The source of this rumor is ...
CarPlay Phone Call

General Motors to Phase Out Apple CarPlay Starting This Year in EV Transition

Friday March 31, 2023 8:43 am PDT by
General Motors (GM) will phase out Apple CarPlay and Android Auto in its vehicles starting this year, shifting to a built-in infotainment system co-developed with Google (via Reuters). GM owns Buick, Cadillac, Chevrolet, and GMC in the United States. It will stop offering Apple CarPlay and Android Auto starting with the 2024 Chevrolet Blazer, which goes on sale this summer. The company plans ...
iPhone 15 Pro Multi Purpose button Mute Switch Feature Green 2

iPhone 15 Pro Rumored to Feature Multi-Use Action Button Instead of Mute Switch

Wednesday March 29, 2023 7:28 am PDT by
iPhone 15 Pro and iPhone 15 Pro Max models are rumored to feature a customizable Action button like the Apple Watch Ultra, according to a MacRumors forum member who leaked accurate details about the Dynamic Island on iPhone 14 Pro models last year. The source claimed the Action button will replace the Ring/Silent switch that has been included on every iPhone model since 2007. They did not...
iOS 16

iOS 16.4 Now Available for Your iPhone With These 8 New Features

Friday March 31, 2023 8:55 am PDT by
Following six weeks of beta testing, iOS 16.4 was released to the public this week. The software update includes a handful of new features and changes for the iPhone 8 and newer. To install an iOS update, open the Settings app on the iPhone, tap General → Software Update, and follow the on-screen instructions. Below, we have recapped eight new features and changes added with iOS 16.4,...
iOS 17 on Phone Feature

Three New iOS Features Coming to Your iPhone Following Apple Music Classical

Thursday March 30, 2023 7:13 am PDT by
With the Apple Music Classical app and an Apple Pay Later early access program now available, the list of previously-announced iOS features that have yet to launch is beginning to shrink. However, there are still a few features we are waiting for. Below, we have recapped three more iOS features that are expected to launch in 2023, including an Apple Card savings account for Daily Cash,...
apple mixed reality headset concept by david lewis and marcus kane

Kuo: Apple Mixed-Reality Headset May Not Appear at WWDC as Mass Production Pushed Back Yet Again

Thursday March 30, 2023 4:50 am PDT by
Apple has again pushed back mass production of its mixed-reality headset and the device may not appear at this year's Worldwide Developers Conference (WWDC), Apple analyst Ming-Chi Kuo today said. Apple headset concept by David Lewis and Marcus Kane In a tweet, Kuo explained that Apple "isn't very optimistic" about whether the headset will be able to create an "iPhone moment." As a result,...