Tim Cook Could Earn One Million More Apple Shares by 2025

Tim Cook at Time Flies event

Apple has granted Tim Cook a massive new equity package. In total, the company’s CEO could receive up to one million shares by 2025 – a rather nice incentive to stay at Apple Park until then. The package would earn Mr. Cook somewhere between $76 million and $114 million on current valuations, according to Bloomberg News.

Tim Cook Receives Major Equity Award

An SEC filing reveals that compensation is split into two packages. The first one is made up of 333,987 restricted stock units. These vest in thirds on April 1 in 2023, 2024 and 2025. The second package, also of 333,987 will vest Oct. 1, 2023. That is based on Apple’s relative share performance over that the three year period. In theory, Mr. Cook could receive between zero and 200 percent of that award, meaning in total he could get one million shares by April 1, 2025.

In a statement, Apple’s board said:

Tim has brought unparalleled innovation and focus to his role as CEO and demonstrated what it means to lead with values and integrity. For the first time in nearly a decade, we are awarding Tim a new stock grant that will vest over time in recognition of his outstanding leadership and with great optimism for Apple’s future as he carries these efforts forward.

[Who Will Succeed Tim Cook, and Who Else is Climbing Apple’s Corporate Ladder?]

Top Apple Execs Also Receive Share Packages

The CEO was not the only exec to receive new equity though. COO Jeff Williams, CFO Luca Maestri, General Council Katherine Adams, Principal Account Officer Chris Kondo, and SVP of people and retail Deirdre O’Brien also received awards of varying sizes. Mr. Williams, Mr. Maestri, Ms. Adams, and Ms. O’Brien all received two packages of 89064 shares, vesting on the same terms as Mr. Cook’s award. Mr. Kondo received 17813 shares, 12.5% of which will vest on April 15, 2021. The remaining restricted stock units will vest 12.5% in semi-annual installments until October 15, 2024.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

WIN an iPhone 15 Pro Max!

Enter our epic giveaway for a chance to win the latest iPhone 15 Pro Max!