Tim Cook is inline for a major AAPL stock payout on Monday. The Apple CEO is due to receive 560,000 shares. Based on recent stock prices, that’s approaching a total of around $279 million (via Bloomberg News).
Tim Cook Gets Rich as AAPL Soars
Much of Mr. Cook’s pay comes in the form of stock options linked to both his continual service at Apple and the price of AAPL compared to other companies on the S&P 500 index over a three year period. It all relates to an award he was given nine-years ago after succeeding Steve Jobs. He recently became a billionaire, as the AAPL stock price soared, but has said he plans to give most of his fortune away to charity. He periodically make major donations of Apple shares.
[Update] Donation Worth $5 Million
An SEC Commission document, filed Friday, (spotted by Cult of Mac) revealed that Mr. Cook will be donating 10,715 AAPL shares to charity. The stock closed the day at $497.48 a share, meaning the donation is worth around $5 million. The filing did not specify where the donation was going. Previously, the Apple CEO has donated to LGBTQ advocacy and human rights organizations.