Apple CEO Tim Cook dinner simply cashed within the remaining a part of his decade-old compensation bundle: 5,040,000 Apple shares, value roughly $750 million.
In line with a SEC submitting dated Tuesday, Apple withheld 2,653,560 shares for tax functions, and Cook dinner shortly offered the remaining, which means that he truly acquired round $355 million.
Cook dinner acquired the compensation bundle in August 2011, when he took the helm of Apple. The quantity of shares he would obtain was tied to his efficiency, measured by the efficiency of Apple inventory. And carry out it did: Apple’s inventory worth went from roughly $13.50 in August 2011 to its present worth of $147.54, with Apple turning into the world’s largest firm, with a present market cap of $2.44 trillion.
It wasn’t precisely a straightforward activity, although: Cook dinner changed one of many biggest CEOs of all time, Steve Jobs, who died attributable to problems from pancreatic most cancers. And whereas Cook dinner’s Apple was typically criticized for missing the modern drive that it had within the Jobs period, it is arduous to argue in opposition to Cook dinner’s outcomes out there.
In line with the BBC, final 12 months Cook dinner signed a brand new compensation bundle, which runs by way of 2026.
Cook dinner was already a billionaire previous to this final payout, with a present web value of about $1.5 billion, in response to Bloomberg. Cook dinner mentioned in 2015 he plans to provide away most of his wealth to charity.