Cookin’ With Apple Stock
Apple CEO Tim Cook has received 1.26 million shares of Apple stock, valued around US$135 million, that were previously restricted.
And there’s more to come. This is only half of the stock-compensation plan that could see him awarded seven million shares by 2021.
Cook earned the bulk of the shares, 980,000, by remaining CEO for five years. The other 280,000 shares were granted because Apple outperformed more than two-thirds of the companies in the S&P 500 index over the past three years.
Cook sold $36 million worth of this stock and forfeited another $71 million to cover taxes.