Tim Cook is kicking butt at Apple — at least according to the tenure- and performance-based restricted stock units he recently received, with a market value of close to $58 million.
The reward, noted in an SEC filing, came with stipulations that Apple’s TSR performance had to be in the top third of S&P 500 companies.
As it happens, Apple ranked 46th, which meant Cook’s stock options were vested. If Apple had wound up in the middle of the S&P 500, Cook’s award would have been reduced to 50 percent, while a placement in the bottom third would have earned him nothing — aside from negative headlines, that is.
Cook still has 4.76 million outstanding restricted AAPL stock units, which will vest in 2016 and 2021. An additional 1.68 million will vest in six annual installments beginning 2016.
As it stands now, Cook owns in excess of 1.17 million AAPL shares. If sold today, these would be worth close to $121.4 million. He has previously revealed that he plans to give away all of his fortune after first providing for his 10-year-old nephew’s college fund.
Is it too late to start combing the family tree for the slightest clue that Cook might be a distant relative of ours, too?
Source: Apple Insider
