Apple CEO Tim Cook dinner will quickly be $50 million richer after promoting 223,986 shares of Apple Inventory, incomes him a complete of $50,276,076, in line with an SEC submitting. Cook dinner was initially granted the inventory as a part of performance-based award based mostly on Apple’s shareholder return relative to different S&P 500 firms, and he usually sells inventory in October.
Earlier this week, Cook dinner was granted an extra 219,502 shares of Apple inventory. 54,876 shares are set to vest in one-third increments in April of 2027, 2028, and 2029. 164,626 shares are performance-based and can vest on October 1, 2027. Relying on Apple’s efficiency between fiscal 2025 and monetary 2027, between 0 and 200 p.c of the goal variety of shares can vest.
The overall bonus will depend upon Apple’s whole shareholder return relative to different firms within the S&P 500 over the subsequent two years.
As of early 2024, Cook dinner owned over three million shares of Apple inventory, together with an extra 1.3 million unvested RSUs. Cook dinner’s unsold inventory is price over $500 million, and inventory grants make up the vast majority of his whole compensation.
In 2023, Cook dinner’s base wage was $3 million, however he additionally acquired $47 million in inventory awards, $10.7 million in performance-based bonus awards, and $2.5 million in different compensation, comparable to 401(ok) contributions, time period life insurance coverage premiums, trip cash-out, safety bills, and private air journey bills.