Monday will be an up day (Tim Cook - long term comp package)

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    Posted: 27 August 2011 04:40 AM

    http://www.macrumors.com/2011/08/26/apple-awards-tim-cook-1000000-shares-of-stock-as-ceo-bonus/

    In Apple’s newly filed 8-K re: the changes in corporate leadership at the company.

    In connection with Mr. Cook’s appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units. Fifty percent of the restricted stock units are scheduled to vest on each of August 24, 2016 and August 24, 2021, subject to Mr. Cook’s continued employment with Apple through each such date. This stock award is worth just over $383 million at current prices.

    And, Gruber’s comment: “Apple?s board is confident in Tim Cook, and Tim Cook is confident in Apple.”

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    Don’t anthropomorphize computers, they hate that.

         
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    Posted: 27 August 2011 06:45 AM #1

    Brilliant move by Apple. With Steve as Chairman, this shows just how much confidence Jobs has in Cook and it solidifies the idea that Apple has well thought out long term plans.

         
  • Posted: 27 August 2011 10:10 AM #2

    here’s hoping they do something similar for the top six or seven executives under Cook.  Not thst large, but enough to keep them on board for at leat the next five years.