Today marks five years since Tim Cook was appointed CEO of Apple on August 24, 2011, the same day that co-founder Steve Jobs resigned permanently as CEO and recommended to the Board of Directors to appoint Cook as his permanent successor.
Now that he is five years old at the head of Apple, Cook has restricted stock bonuses of more than $ 100 million. The bonds are tied to both your management and Apple's performance under your direction, including your total return as a shareholder relative to the S&P 500 index.
Cook's bonds include 700.000 units of restricted shares, which are consolidated today as part of a larger compensation package with more than 4,7 million shares, in addition to the first of its six annual tenure-based restricted share unit installments of 280.000 that are delivered today. . The combined 980.000 shares are valued at nearly $ 106.7 million based on AAPL's closing price of $ 108,85 on Tuesday.
A restricted stock unit, or RSUit's a form of compensation valued in terms of company shares, but the share is not issued at the time of grant. Instead, the recipient receives shares at a later date, generally only if they are still employees of the company. Cook personally requested that his award be modified to adhere to a performance-based compensation system in 2013. Another of his 700.000 RSUs are scheduled to be delivered on August 24, 2021, more than 280.000 RSUs each August 24 through 2021.
Cook's net worth of bonds, assuming he remains with the company through August 24, 2021 and meets performance targets, is estimated to be more than $ 500 million based on his current stock options and the RSU granted. Tim Cook has previously pledged to donate most of his wealth, including these securities bonds, to charities. In May 2015, for example, Cook donated approximately 50.000 Apple shares, worth about $ 6.5 million, to undisclosed charities.
Cook has overseen the launch of the Apple Watch, the MacBook Pro with Retina display, the ultra-slim 12-inch MacBook, the iPad Pro, various iPhone and iPad models; also applications such as Apple Maps, Apple Music, Apple Pay, Siri, and many other products and services since he took the reins of the company in 2011. Apple became the world's most valuable company in 2012, under his direction, and continues to carry that title to this day. The Apple shares have risen by 132% since Cook was appointed as CEO five years ago.
What a madness of numbers and things that one has no more remote idea