AAPL stock options have been declared for Tim Cook and five other Apple executives. The SEC submission shows that Cook is fine for more than half a million shares, worth $ 75 million at current value.
Four other CEOs will receive shares worth $ 20 million each, while the other is in line for $ 2.25 million…
The award for limited shares was announced in a series of yesterday’s submissions from the Securities and Exchange Commission (SEC).
Part of the planned rewards depends on performance, and CEOs estimate total shareholder income over the next two financial years. The number of registered shares are those that will be allotted if the shareholder return reaches the targets set by the company. The submission notes that actual performance-based rewards can range from zero to double the number listed.
Each limited unit of shares represents the right to receive one share of ordinary shares upon settlement.
[The] it is projected that limited stocks will receive one-third of the units each on April 1, 2024, April 1, 2025, and April 1, 2026.
[The] limited performance-based limited inventories are scheduled for October 1, 2024. A “target” number of restricted shares is reported. Between 0% and 200% of the target number of units could be gained based on Apple’s relative total shareholder return from the first day of Apple’s fiscal 2022 to the last day of Apple’s fiscal 2024.
PED30 compiled a table of planned payments.
Cook received a separate payment of about $ 750 million last month from a 10-year performance contract made when he became chief executive.
As we mentioned earlier, Apple’s CEO plans to donate almost all of his wealth during his lifetime.
Tim Cook has an estimated net worth of $ 1.5 billion, according to the Bloomberg Billionaires Index. Cook revealed in 2015 that he plans to hand over all of his fortune for life, after securing a college education for his 10-year-old nephew.
He regularly donates AAPL shares to undiscovered charities. The vast majority of Cook’s wealth comes from stock awards he has received since joining Apple in 1998.
Apple will reveal its fiscal earnings on October 28.
Photo: Chris Liverani / Unsplash
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