Apple CEO Tim Cook dinner will quickly be $50 million richer after promoting 223,986 shares of Apple Inventory, incomes him a complete of $50,276,076, in response to an SEC submitting. Cook dinner was initially granted the inventory as a part of performance-based award based mostly on Apple’s shareholder return relative to different S&P 500 firms, and he typically sells inventory in October.
Earlier this week, Cook dinner was granted a further 219,502 shares of Apple inventory. 54,876 shares are set to vest in one-third increments in April of 2027, 2028, and 2029. 164,626 shares are performance-based and can vest on October 1, 2027. Relying on Apple’s efficiency between fiscal 2025 and financial 2027, between 0 and 200 % of the goal variety of shares can vest.
The full bonus will rely upon Apple’s whole shareholder return relative to different firms within the S&P 500 over the subsequent two years.
As of early 2024, Cook dinner owned over three million shares of Apple inventory, together with a further 1.3 million unvested RSUs. Cook dinner’s unsold inventory is price over $500 million, and inventory grants make up nearly all of his whole compensation.
In 2023, Cook dinner’s base wage was $3 million, however he additionally obtained $47 million in inventory awards, $10.7 million in performance-based bonus awards, and $2.5 million in different compensation, resembling 401(ok) contributions, time period life insurance coverage premiums, trip cash-out, safety bills, and private air journey bills.
