INSUBCONTINENT EXCLUSIVE:
On Friday, Cook stands to receive 280,000 shares tied to his continued service as chief executive officerApple's Tim Cook is set to
collect stock worth about $120 million this week thanks to a run-up in shares of the iPhone maker.On Friday, Cook stands to receive 280,000
shares tied to his continued service as chief executive officer
He'll get as many as 280,000 additional shares if Apple's stock-market return over the preceding three years exceeds at least two-thirds
of the firms in the SP 500.Apple returned 119 percent from Aug
25, 2015, through Tuesday's close, including reinvested dividends, outperforming more than 80 percent of companies in the index
Barring a major collapse this week, that all but ensures Cook will collect the maximum number of shares for his fifth consecutive payout at
the top end of the range.The executive said in 2015 that he planned to give most of his fortune to charity
On Tuesday, an Apple regulatory filing said Cook had donated 23,215 of his current Apple shares.Cook, 57, gets annual installments from a
massive award of restricted stock he received in 2011, when he succeeded Steve Jobs
It was initially set to vest in two increments over a decade
In 2013, at Cook's request, the board's compensation committee tied about a third of those shares to Apple's relative stock
performance versus the broader market.This month, Apple became the first United States -based company to reach $1 trillion in market value
It was worth about $350 billion when Jobs died."I don't really think about it," Cook said in an interview in February, when Bloomberg asked
"I still view Apple as a pretty small company, the way that we operate."Last year, about half of Cook's 560,000 shares were withheld to
The rest were sold, netting him about $43 million
Aside from the stock, Cook also gets a $3 million salary and earned a $9.33 million cash bonus in 2017
He hasn't received new equity grants since 2011.The CEO is currently worth about $700 million, according to data compiled by
Bloomberg.(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
