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Tim Cook collects $89.2 million in vested Apple stock

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Tim Cook collects $89.2 million in vested Apple stock

Postby MrFredPFL » Mon Aug 28, 2017 11:24 pm

Story :

Tim Cook had a better Thursday than you did last week.

That’s because the Apple Inc. chief executive on Thursday was awarded 560,000 vested Apple shares worth $89.2 million at the time, half of them for meeting company performance goals, according to a Securities and Exchange Commission filing Monday.

Cook received 280,000 time-based restricted stock units and another 280,000 performance-based RSUs, in accordance with an incentive plan approved by Apple’s board in 2013. To meet his performance goal, shareholders’ return on Apple stock had to outperform two-thirds of S&P 500 companies over the past three years, which it did, handily. Over that time, Apple shares returned 70.6%, ranking 80th of the 420 companies in the index.

On Monday, Cook sold $43 million worth of his stock — 268,623 shares — as part of a pre-arranged plan, according to another SEC filing.

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