Will Tim Cook Stay At Apple? $160 Million In Stock Says Yes
Apple has given CEO Tim Cook up to $160 million in stock bonuses to keep him in the job for another five years.
The manufacturer handed over 333,987 restricted stock units to its CEO, which at the current Apple stock price are worth around $38 million USD, or $53 million AUD.
This is Cook’s first stock grant since 2011, and the Board of Directors says the shares, which will vest over three years starting in 2023, could be accompanied by up to another 667,974 if he meets performance goals.
In total, assuming he meets these targets, Cook will receive stock in 2025 worth $114 million USD based on current prices, or almost $160 million AUD.
“Tim has brought unparalleled innovation and focus to his role as CEO and demonstrated what it means to lead with values and integrity.
“For the first time in nearly a decade, we are awarding Tim a new stock grant that will vest over time in recognition of his outstanding leadership and with great optimism for Apple’s future as he carries these efforts forward,” the Board said in a statement.
Cook’s previous grant of one million shares is due to expire next year.