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Tuesday, 10 January 2012 15:59

Apple CEO received $376 million bonus

Written by Nedim Hadzic

apple

Cook’s stock award

In a move that proves that Apple is just peaches, CEO Tim Cook received a one-time stock award of $376 million.

The bonus is said to be the highest by a company in a decade and is supposed to reinforce the image of Apple’s confidence in Cook. Truth be told, Cook indeed has a tough task and some really big shoes to fill.

In its Monday proxy filing, the company confirmed that Cook received 1 million restricted stock units in August, which amounts to the aforementioned figure. Cook is due first half of the award in 2016 and the second in 2021, which Apple describes as a long term incentive.

Apple said:”The Board views his retention as CEO as critical to the Company's success and smooth leadership transition. The RSU award is intended as a long-term retention incentive". Nobody asked Cook yet but we’re sure he’d say something along the lines of Chappelle’s interpretation of Rick James.

More here.


Last modified on Tuesday, 10 January 2012 18:05

Nedim Hadzic

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Comments  

 
+1 #1 saneblane 2012-01-10 20:31
$376 million bonus?

Do those guys forget that Steve jobs is no longer CEO. I can without a doubt guarantee you that this man has not earn his bonus. But i guess old habits die hard.
 
 
+2 #2 Reavenk 2012-01-10 21:30
wow, I wish I even made a thousandth of that for an entire year.
 
 
+1 #3 Super XP 2012-01-10 23:22
Actually he does deserve a bonus; he was one of the guys responsible for turning Apple around and making it a $400+ stock price company. That said, $376 Million is way overkill and complete Corporate Greed IMO. Especially when you have slave labour based factories making your products.
All these greedy corporate companies should be ashamed IMO.....

Just think about this, they could easily just give him say $200 Million, then use the rest of that so called bonus and spread it out by keeping hard working middle class families working in North America for many years, and not this overseas nonesense.
 
 
+1 #4 sidje 2012-01-11 06:31
Quoting Super XP:
Just think about this, they could easily just give him say $200 Million, then use the rest of that so called bonus and spread it out by keeping hard working middle class families working in North America for many years, and not this overseas nonesense.






You mean that the planet should work towards common good and that all men are equal? Some were nailed to crosses for such words, you know...
 
 
+1 #5 dineaudio 2012-01-11 09:14
Actually, they should have given him 2 million, and give the rest to the poor. I agree with you SuperXP. Just in a more extreme way. ;) Who was nailed to the cross for such words? Red Riding Hood? LOL
 

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