Tim Cook is in line for a major windfall from Apple shares later this month. With various stock options set to vest, the Apple CEO will receive a payout worth $114 million (via Telegraph).
Tim Cook Share Bonus Set to Vest
280,000 shares that Mr. Cook received for staying at Apple are set to vest in the coming days, as will a further 280,000 shares linked to the stock’s performance. For Mr. Cook to receive the full award, Apple stock must have outperformed two thirds of S&P 500 firms in the three years up to August 2019. Apple was valued at over $917 billion at close of trading Friday, with shares priced at $203 each. That is a rise of a little under 40% since the beginning of 2019.
Mr. Cook asked Apple’s board to link his stock payout to the firm’s share performance in 2013. He previously said he will donate much of his earnings to charity.