Ondrej Holzman On Monday, in response to Apple's results, Tim Cook received 560 thousand shares with limited transferability, so-called RSUs, which are worth almost 58 million dollars. This translates to almost 1,4 billion crowns.
The US Securities and Exchange Commission (SEC) document disclosing Cook's pay also revealed that the executive chose not to sell any shares he received. However, less than 291 shares were automatically deducted from him as part of the withholding tax.
In total, Tim Cook has already collected more than 1,17 million shares of the California company, which would sell for more than $121 million (2,85 billion crowns) today. At the beginning of the year, however, the head of Apple revealed that most of his fortune donates to charity.
Cook's Rewards are paid depending on the company's performance as reflected in the S&P 500 index. For Cook to receive the full reward, Apple must be in the top third of the index. Rewards are also time dependent, Apple's performance is tracked over a period of two years.
According to the published documents, Apple was ranked 46th out of 458 companies, i.e. in the top third. Had he finished in the middle, Cook's reward would have been halved. If placed in the bottom third, Cook would get nothing at all.
An additional 4,76 million restricted shares are still waiting for Cook under his compensation plan, which are to be paid gradually in 2016 and 2021. He can then receive a total of 2016 million additional restricted shares in six annual installments starting in 1,68.
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It turns out that it wasn't just Tim Cook who received restricted stock awards, but Senior Vice President of Internet Services, Eddy Cue. He received 350 restricted shares as part of the rewards, and he didn't sell any of them either. Almost 172 shares were deducted from him as part of the withholding tax. Eddy Cue transferred the remaining almost 179 shares to a family trust. All 700, which he received in September 2011, has already been issued to Cue.
they will buy a lot of iNdulony trucks for that :D