Apple boss Tim cook for $120 million windfall later this week, the new Mac planned

  • Apple boss Tim cook for $120 million windfall later this week, the new Mac planned
    Independent.t. E.
    Apple CEO Tim cook is set to collect shares worth about $ 120 million (€103.5 m) this week, thanks to a run-up in shares of the iPhone maker.
    https://www.independent.ie/business/world/apple-boss-tim-cook-set-for-120m-windfall-later-this-week-new-mac-computer-planned-37242261.html
    https://www.independent.ie/incoming/article37165656.ece/05a77/AUTOCROP/h342/23%20BUSIN%20PL29312531FILE%20Apple%20Face%20.jpg

  • Email

Apple CEO Tim cook is set to collect shares worth about $ 120 million (€103.5 m) this week, thanks to a run-up in shares of the iPhone maker.

On Friday, Mr. cook is to 280,000 shares tied to his continued service as chief Executive officer.

He will get as much as 280,000 additional shares, if the stock market is Apple’s return over the previous three years, exceeds at least two-thirds of firms in the s&P 500.

Apple is back 119pc from 25 August 2015 at the end of trading on Tuesday, including reinvested dividends, outpacing more than 80pc of companies in the index.

To prevent a serious collapse this week that all but guarantees that Mr. cook will be to collect the maximum number of shares for his fifth win in a row at the top of the range.

The Executive said that in 2015 he plans to give most of his fortune to charity. On Tuesday, a regulatory filing Apple said Mr. cook donated his current 23,215 shares of Apple. Mr. cook (57) receives the annual payments from the massive award of restricted stock he received in 2011 when he succeeded Steve jobs.

It was originally set to vest in two promotions within ten years. In 2013, at the request of cook, the Committee of the Board of Directors on compensation tied about one third of these shares, relative to the performance of Apple’s stock against the broad market. This month, Apple became the first U.S. company to reach $1 trillion in market value. It cost about 350 billion dollars, when Mr. jobs died. “I don’t think about it,” Mr. cook said in an interview in February, when Bloomberg asked him about the Milestone. “I still view Apple as a fairly small company, how we work.”

Last year, about half of the 560,000 shares, Mr. cook was the amount of tax withheld to cover taxes. The rest were sold, netting him about $43m. In addition to shares, Mr. cook also received $ 3 million salary and earned 9.33 $million cash bonus in 2017. He received new grants of capital since 2011. CEO is currently worth about $700 million, according to data compiled by Bloomberg.

Apple will release a new budget laptop and the professionally-oriented update to the Mac mini desktop later this year, ending a drought of Mac computers, which has limited sales of the company’s long line of devices, according to people familiar with the plans. Apple watch with a big screen is also planned. (Bloomberg)

Online Business Classes