1 Million Shares

Last week, Apple disclosed just how much their new CEO, Tim Cook, earned in 2011.

Cook's compensation included $900,000 in salary [rather average or even low compared to other CEO salaries], $900,000 in incentive pay [again, not to crazy, seeing he leads Apple!] and 1 million shares of Apple valued at $376.2 million at the time they were issued. Yep, that's the kicker. ONE MILLION shares.

Apple's directors characterized Cook's stock grant as a "promotion and retention" award. Half of the shares will vest in 2016, the rest in 2021 if Cook remains with the tech giant.

Cook had previously filled in for Steve Jobs when the Apple co-founder had cancer in 2004 and in 2008, when Jobs underwent a liver transplant and went on extended leave. Apple directors rewarded Cook with a $5 million bonus and stock valued at $53 million in 2010.

Sure, Cook has big shoes to fill and a fair amount of stress to go along with leading Apple...but, clearly, money will never be an issue.

Posted at 06:12 AM in Businesses u'll love , Rants | Permalink

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Doctor Evil would have gotten 1 Billion shares

Posted by: Mike | 01/17/2012 at 07:45 AM

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