Apple COO Tim Cook Receives $5M Plus Stock Options For Serving as Temporary CEO

News

Brad Cook

2:39 PM, Mar. 15th ET, 2010

Articles by Author Brad Cook on Twitter Contact Author Bio

Comments (0)

Tim Cook, Apple’s COO and temporary CEO for six months while Steve Jobs received a liver transplant, was awarded US$5 million and 75,000 share options last week. The total would be $22 million at Apple’s current stock price, noted The Register.

According to the SEC filing submitted on March 10, Apple’s board of directors approved the bonus “in recognition of [Mr. Cook’s] outstanding performance in assuming the day-to-day operations of the Company for the period in fiscal 2009 during which Mr. Jobs was on medical leave of absence.” Half the stock options vest in March 2011 and the other half in March 2012, but Mr. Cook will need to still be employed by Apple on each date to receive the shares.

Post A Comment or Log-in. Need an account? Register here.

Recent Headlines - Updated February 14th

Tue, 1:56 PM: Apple Stock Watch - Peter Misek: Apple Will Initiate Dividend in 2012
1:20 PM: Deal Brothers - 13” MacBook Pro 2.4GHz Dual-core Intel i5: $1,019
12:45 PM: In-Depth Review - Bookle: A Friendly EPUB Reader for the Mac
11:30 AM: Apple Stock Watch - Reminder: Apple Streaming Tim Cook Speech Today
10:39 AM: News - BYOD Trend Could Open Door to More iPhones, iPads in Workplace
9:54 AM: News - DOJ Also Approves Patent Acquisitions By Consortiums Involving Apple
9:36 AM: News - DOJ Signs Off on Google’s Motorola Acquisition
8:55 AM: Rumor - Apple Said to Be Testing Smaller iPad, 4G-Capable One
Mon, 10:30 PM: News - Apple to Live Stream Tim Cook’s Goldman Sachs Speech
8:14 PM: News - Chinese Authorities Seize Apple iPads in Trademark Dispute
6:26 PM: News - Apple Tops Harris Reputation Poll with Record Score
5:33 PM: Mac Geek Gab Podcast - MGG 381: Mac Internet Recovery, HTML on iPad, iDevice Syncing, More!

The Mac Observer Reader Specials

TypeStyler 11 is now in the Mac App Store!! -- Special Introductory Price of $59.95!! -- To Buy From The Mac App Store Click Here Now!! Or buy direct from Strider Software.
Mac RAM Upgrades: MacBook Pro 16GB kits $475, 8GB Kits for $119.99! iMac 16GB RAM Kits (4x 4GB) for $229.99! Mac Pro Memory 32GB Kit for $399.99, 64GB Kit for $889.99! Mac Hard Drives 2TB Seagate SATA II for $249.99! Click Here!
If you're using a Mac, then you've gotta check out Online Poker Mac. This mac poker and online casino mac site actually does the unthinkable, it actually rewards!

Apple Stock Quote (AAPL)

Last trade: $---.-- $---.--
Market cap: $---.--
Discuss in our Apple Finance Board

Quotes are delayed. Currency in USD

Hot Topics

What's the buzz? These articles have TMO readers talking.

Theodolite App for iOS is Breathtaking - 13 Comments
Air Force Might Replace Manuals with 18,000 iPads - 13 Comments
Analyst: Paying a Dividend Makes Sense for Apple - 11 Comments
Canaccord: Apple Claims 80% of Q4 Mobile Handset Profits - 10 Comments
FBI Releases Steve Jobs Dossier: Driven & Deceptive - 9 Comments
Apple Announces Foxconn Inspections - 8 Comments

TMO Express

Join the TMO Express Daily Newsletter to get the latest Mac headlines in your e-mail every weekday. Find out more!

Top Deals From DealBrothers.com

Recent Features

Get the latest installments of TMO Columns, Podcasts, & Blogs.

© The Mac Observer, Inc. -- All rights reserved. All information presented on this site is copyrighted by The Mac Observer, Inc. except where otherwise noted. No portion of this site may be copied without express written consent. Other sites are invited to link to any aspect of this site provided that all content is presented in its original form and is not placed within another frame. The Mac Observer is an independent publication and has not been authorized, sponsored, or otherwise approved by Apple, Inc.