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In 2011, Tim Cook took over from Jobs as CEO of Apple for a ten-year term; time came to 2020 in a blink of an eye, which is also the last year of Cook's plan.
Yesterday, a report submitted to the US Securities and Exchange Commission showed that on September 27, the company issued a term RSU (restricted stock unit) award to the CEO, totaling 667,974 shares. Based on the current Apple stock price, the total value is more than 76 million US dollars.
The board of directors issued a statement: "Tim's focus as CEO and bringing unparalleled innovation to the company confirms his valuable and honest leadership.
For the first time in ten years, we gave Tim a new stock award in recognition of his outstanding leadership and; out of optimism about Apple's future development, this bonus will be issued in installments. "
Among them, 330,000 shares of RSU will be vested from April 1, 2023, and will be issued in increments of 1/3 each year to 2025; the other 330,000 shares will be performance rewards. Based on the CEO’s "performance", Cook may receive 0-200% reward;
If today, 3 years later, on October 1, 2023, Apple stock can beat 85% of the S&P 500 stocks, Cook can get 200% or 660,000 shares of performance rewards, so he gets The total RSU award will exceed 1 million shares, valued at more than 100 million U.S. dollars.
Apple COO Jeff Williams, CFO Luca Maestri and General Counsel Kate Adams also received performance awards at the same time, all of which will be issued in the form of RSUs from 2023 to 2025.
In a previous Bloomberg interview, Cook said that he will retire at some time in the future. It is hard to imagine what life is like without working at Apple; the current COO Jeff Williams is considered Cook's successor;
Originally 2020 will be the end of Cook's ten-year term as CEO. I wonder if he will stay in office until 2025 because of Apple's bonus package?
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