Talk about a nice pay check. According to Apple’s 2012 proxy statement for their annual meeting of shareholders CEO of Apple, Tim Cook made a whopping $377,996, 537 in 2011. If you are wondering why Tim Cook made so much money in 2011 it is because of the 1 Million RSUs (restricted stock units that are a form of compensation valued in terms of company stock) he has in his possession.
In connection with Mr. Cook’s appointment as CEO and as noted above, the Board granted Mr. Cook 1,000,000 RSUs as a promotion and retention award. Fifty percent (50%) of Mr. Cook’s award is scheduled to vest on August 24, 2016 (five years after the award date) and fifty percent (50%) of Mr. Cook’s award is scheduled to vest on August 24, 2021 (ten years after the award date), subject to Mr. Cook’s continued employment with the Company through the applicable vesting date.
Cook’s unvested RSUs will be forfeited if his employment terminates in any circumstances, other than death or disability. The Board noted that the amount of Cook’s RSU award was subjective.
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