After another period of strong growth and performance for Apple, Tim Cook looks set to receive awards of up to 560,000 AAPL shares this Friday.
The stock compensation awards are split evenly between AAPL’s performance compared to other companies in the S&P 500 and Cook continuing his role as CEO. Specifically, the 280,000 shares for AAPL performance will be awarded if Apple’s stock return is greater than two-thirds of the S&P 500 companies over the last two years. As it stands AAPL has outperformed over 80% them.
As reported by Bloomberg, unless anything drastic happens in the next two days with Apple’s stock price, Cook will be awarded all 560,000 shares, worth about $125 million at the time of writing. Apple’s stock has continued to steadily climb this month after becoming the first $1 trillion-dollar company.
Last night, we heard news that Cook donated roughly $5 million worth of shares to an undisclosed charity. He previously shared three years ago that he plans to give away all his wealth, currently estimated at $600M-$700M.
For the 2017 fiscal year, Cook received a total of $102 million between salary, incentives, and equity awards. Apple’s board also voted last year to require Cook to fly privately for both business and personal travel.
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