Tim Cook: How Apple CEO Tim Cook earned a bonus of $280 million

Most CEOs at large tech corporations have bonus-linked compensation of their pay packages and Tim Cook isn’t any totally different. The CEO of Apple obtained his annual inventory payout of 5,60,000 shares of Apple, that are price greater than $280 million.
According to a report by Bloomberg, Cook obtained this payout based mostly on his “continued service as CEO” and the efficiency of Apple in opposition to inventory efficiency in comparison with different corporations. Cook has been receiving this annual payout for the final 9 years, since he succeeded Steve Jobs in August 2011.
A report by CultofMac additionally revealed that Cook netted $132 million after instantly promoting the restricted inventory models. The report quotes a US Securities and Exchange Commission submitting, which revealed that after the corporate’s “statutory tax withholding, which got here out to 294,840 inventory models, Cook was left with 265,160 vested models that had been instantly bought in a number of trades executed at costs starting from $493.50 to $500.11” within the final two days, as per the report by CultofMac.
As talked about earlier, for Cook to internet this quantity Apple needed to be within the high third of corporations within the final three years, which is efficiently managed to take action. The report additional mentions that Cook has about 1,260,000 restricted models remaining in his inventory payout and they’ll vest on August 24, 2021. In order to transform them in full, Cook should proceed as CEO of Apple and preserve Apple in a wholesome monetary situation.
Apple lately created ‘historical past’ when it turned the primary publicly traded firm within the US to hit the $2 trillion market worth. It took the Cupertino-based tech large shut to 2 years to leap from $1 trillion to $2 trillion.
Meanwhile, a report by Bloomberg lately additionally revealed that Cook has formally joined the billionaires membership, as per the Bloomberg Billionaires’ Index.

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