Ondrej Holzman She was in June changed at Tim Cook's own request, the form in which he will be paid in his role as chief executive. Cook waived the guarantee of certain stock-based compensation now being awarded to him based on Apple's results. As it turned out, in 2013 he lost four million dollars (80 million crowns) because of this...
All was revealed in preliminary prospectus (information about securities, etc., for potential holders of securities, which is required to be submitted before each meeting of shareholders) for the US Securities and Exchange Commission (SEC).
Originally, Tim Cook was to receive one million restricted shares in two phases, these two huge payouts affected only by whether he would still be an Apple employee, but Cook declined and had the entire amount spread over ten years, when he would be paid a certain number of shares based on company results.
In order to get the full share, Apple would have to be in the top third of the S&P 500 index, which is considered the standard measure of the performance of the US stock market. And since Apple didn't reach this goal, Tim Cook lost 7 shares, which were worth $123 million at the end of August and are now worth $3,6 million.
However, the loss of four million will probably not hurt the executive director of the Californian company too much. Cook is entitled to a fee of $4,25 million for the entire past year, and the remaining shares, which he did not lose and were paid to him, are currently worth over $40 million. In total, this year, Tim Cook came to roughly 898 million crowns.
This year, Apple's top executives could enjoy the maximum bonus, which means double their annual remuneration, and the annual salary was also increased for selected members - from 800 dollars to 875 dollars. In addition to Cook, Peter Oppenheimer, chief financial officer, Jeffrey Williams, chief operating officer, Daniel Riccio, who heads hardware, and Eddie Cue, who oversees all online services, have received such an upgrade.
….and people are dying of hunger…
Come on..
So what?
Head of operations – that's also a title :-). A director of operations would definitely be better