Now that Tim Cook’s taking over the role of CEO from Steve Jobs, he’s getting a heck of a pay bump: he’ll get a million shares of Apple Stock, worth approximately $380 million as of writing. The only problem? They won’t fully vest for another ten years.
John Brownlee is a writer for Fast Company, and a contributing writer here at CoM. He has also written for Wired, Playboy, Boing Boing, Popular Mechanics, VentureBeat, and Gizmodo. He lives in Boston with his wife and two parakeets. You can follow him here on Twitter.
16 responses to “Apple’s New CEO Tim Cook Is Now $380M Richer… Theoretically”
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Is he being gifted 1M shares, or are they grants? Â If the former, then yes, in 10 years he’ll be $380M richer (depending on what price he gets for them as they vest). Â Otherwise, if his price is set to what they’re worth today, then $380M is what he’ll have to *pay* to exercise them — so if he doesn’t his job — and there’s no reason to believe things will be all that different than they’ve been since January, at least not for a while), then Apple stock will be worth more, and he makes the difference.Â