Tim Cook celebrated his ninth anniversary with Apple INC CEO in August, after which he earned a hefty pay package that included restricted stock units. The Original grant’s tranches have vested year after year based on the company’s performance benchmarks in his tenure.
Tim Cook Receives Massive RSU Package on His 9th Anniversary with Apple
The Board of directors gave a set of another package of RSUs to the CEO after the 2011 award. The Board feels that Cook deserves every bit of the award.
“Tim has brought unparalleled innovation and focus to his role as CEO and demonstrated what it means to lead with values and integrity,” Apple’s Board of Director said. “For the first time in nearly a decade, we are awarding Tim a new stock grant that will vest over time in recognition of his outstanding leadership and with great optimism for Apple’s future as he carries these efforts forward”.
Worth 1 Billion USD
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Over the years under Tim Cooks’s leadership, the company has grown massive growth and created humungous value for the stakeholders. The tech giant has now awarded him with 333.987 new RSUs as per the regulatory filings. The grant is exceptionally high and will start from April 1, 2023, with another vesting done over the next two years.
Net Worth Still Trailing Against Peers
If one considers the company’s current share prices, the grant can accumulate up to 116 Million USD, which is a too high compensation package. The world’s most substantial-tech company’s net worth is not as high as other CEO since he was not the founder of the company. He just recently reached the 1 billion benchmark, which the other founder CEOs get at an early stage with ease.
Created High Value for StakeHolders
Tim Cook has earned these stakes due to his immense contribution to the company and the considerable stakeholder value over the years. The Core iPhone business, which has flourished over the years and the booming stakes in new markets like Apple Watch and Airpods shows that there is much in store for Apple.