The money is paid as part of an old deal and because of the company’s excellent results
Apple CEO Tim Cook has received more than five million shares in the technology giant as he marks ten years in office, he said. BBC.
A complaint to the US Securities and Exchange Commission (SEC) shows that Cook sold most of the shares for more than $ 750 million.
That was the deal (part of it) that Tim Cook made when he took over from co-founder Steve Jobs.
Tim Cook owns about 3.3 million shares of Apple, far less than a 1% stake; has sold shares worth hundreds of millions of dollars over the years, according to Forbes.
The reward depends on how well Apple shares performed compared to other companies in the S&P 500 stock index.
According to Apple’s statement to the SEC, Tim Cook is eligible to receive the award, as the company’s share price has risen by 191.83% over the past three years.
It also notes that Apple’s share price has risen 1,200% since Tim Cook became CEO on August 24, 2011.
The company with brands such as iPhone, iPad and MacBook already has a market value of almost $ 2.5 trillion.
–
Last year, Tim Cook agreed to a new package of rewards that will last until the end of 2026.
In 2015, he said he would donate all his property before he died, and is known to have donated tens of millions of dollars to charity.
His current net worth is about $ 1.5 billion, according to the Bloomberg Billionaire Index.
And according to the Forbes index – 1.4 billion dollars.
And a little more about Tim Cook, which we read in Forbes.
Tim Cook became CEO in 2011, having previously been Apple’s chief operating officer under Steve Jobs.
Cook joined Apple in 1998, having previously worked briefly at Compaq and 12 years at IBM.
Since 2005, Tim Cook has also been a member of the Nike board.
–
