Sunday 28 February 2021
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Apple rewards CEO Tim Cook with $58M for bang-up job on Wall Street

Apple CEO Tim Cook earlier this week was awarded 560,000 shares, worth approximately $57.7 million, receiving the full amount of a grant due him because of Apple’s performance on Wall Street over the last two years.

As it did in 2014, Apple withheld just over half of the total shares — 290,836, worth about $30 million on Monday — for tax purposes.

The half-million shares were this year’s allotment under a revised schedule designed at Cook’s request in 2013. Then, Apple’s board modified the executive’s vesting plan, which had set two large stock handouts for a massive 1 million-share grant — after last year’s stock split, equal to 7 million — when Cook assumed the lead role at the Cupertino, Calif. company just weeks before co-founder Steve Jobs’ death.

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Source: computerworld