Apple CEO Tim Cook Will Make $378 Million If He Stays At The Company Until 2021
Tim Cook’s current salary as the CEO of Apple is $900,017 and his 401(K) grew by $14,700. Cook was given 1 million restricted stock units in August as part of a “promotion and retention award,” which is worth $378 million. In 2011, Apple paid Cook a salary of $900,017, $14,700 to his 401(K) account, and life-insurance premiums worth $1,820. Half of Cook’s promotion and retention award will vest in 2016 and the other half will vest in 2021.
“The RSU award is intended as a long-term retention incentive for Mr. Cook, and, accordingly, should be viewed as compensation over the 10-year vesting period and not solely as compensation for 2011,” says a financial statement from Apple. The SEC requires a company to book a share grant’s value in the year that it was granted.
Tim Cook is a skilled supply chain manager that ensures that Apple’s oversea supplies are on time. Under his leadership, Apple generated $108 billion in revenue in 2011. Apple’s market value grew by over $70 billion. Today Apple has about $81.57 billion in cash and marketable securities with zero debt.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry