As expected, Tim Cook received a huge sum of Apple stock. 560,000 Apples shares vested on August, 24 2019.
Tim Cook’s Shares Vest
According to a document filed the U.S. Securities and Exchange Commission, the transaction was executed across multiple trades. The total of the vested stock is worth over $114 million. The stock is held by Mr. Cooks trust. However, Apple withheld 294, 480 shares. This satisfied tax requirements.
28,000 of the shares were performance related. Mr. Cook received them all because Apple’s shares were in the top third of firms in the S&P 500 for the entirety of the August 2016 – August 2019 period. Apple performed 45th best out of the 430 firms that were in the exchange for that entire period.
A further 1,120,000 shares will vest across two instalments in August 2020 and August 2021. Another 700,000 will also vest in August 2021 (via AppleInsider).