Apple CEO Tim Cook dinner will quickly be 50 million {dollars} richer after promoting 223,986 shares of Apple Inventory, which earned him a complete of $50,276,076, in keeping with a doc filed with the SEC. Cook dinner was initially awarded the shares as a part of a performance-based reward based mostly on the efficiency of Apple shareholders relative to different S&P 500 corporations, and he usually sells shares in October.
Earlier this week, Cook dinner obtained a further 219,502 Apple shares. 54,876 shares are scheduled to vest in one-third increments in April 2027, 2028 and 2029. 164,626 shares are performance-based and can vest on October 1, 2027. Relying on Apple’s efficiency between fiscal 12 months 2025 and monetary 12 months 2027, between 0 and 200 p.c of the goal variety of shares could also be awarded.
The whole bonus will depend upon the overall return to Apple shareholders relative to different S&P 500 corporations over the following two years.
As of early 2024, Cook dinner owned greater than three million shares of Apple inventory, together with a further 1.3 million unvested RSUs. Cook dinner’s unsold inventory is value greater than $500 million, and inventory awards make up the vast majority 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 bonuses, and $2.5 million in different compensations, comparable to 401(ok) contributions, time period life insurance coverage premiums, holidays. money withdrawal, safety bills and private air journey bills.
