In accordance with an Apple report submitted to the US Securities and Trade Fee (SEC) on August 26, CEO Tim Cook dinner acquired greater than 5 million Apple shares and bought most of them to earn greater than $ 750 million. .
These shares are the final a part of the compensation bundle that Cook dinner acquired when he took over as CEO of Apple 10 years in the past. Final yr, Cook dinner acquired a brand new compensation bundle that lasted till 2026. Nearly all of the compensation packages of the CEO born in 1960 are restricted shares.
Tim Cook dinner earned $750 million from the sale of Apple inventory. Picture: AppleInsider
In accordance with the settlement of Tim Cook dinner and Apple, the variety of bonus shares that Cook dinner receives will depend upon the efficiency of the share worth of “Apples” with different firms within the S&P 500. Apple brings shareholders complete income reached. 191.83% throughout the previous three years, rating 13th out of 442 firms. With this outcome, Cook dinner acquired the utmost variety of bonus shares underneath the 2011 settlement.
Since Cook dinner grew to become CEO a decade in the past, Apple inventory has risen greater than 1,200%.
Earlier this week, he donated almost $10 million price of Apple inventory to an unnamed charity, in accordance with SEC filings. Beforehand, Cook dinner shared that he would donate his complete fortune to charities.