Apple offers Tim Cook 1,000,000 reasons to stay until 2021

In the 8-K filing following their top-level restructuring this week, Apple revealed that they were awarding new CEO Tim Cook quite the signing bonus:

In connection with Mr. Cook's appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units. Fifty percent of the restricted stock units are scheduled to vest on each of August 24, 2016 and August 24, 2021, subject to Mr. Cook's continued employment with Apple through each such date.

As noted by MacRumors, that's worth almost $400 million at current prices. Half the stock can be divested in 5 years, the other half in 10 years, as long as Cook is still with Apple.

This would, of course, be in addition to his salary, options, and bonuses. (Last year those totaled $58 million.)

No word yet on the corporate jet...

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Rene Ritchie

Editor-in-Chief of iMore, co-host of Iterate, Debug, Review, Vector, and MacBreak Weekly podcasts. Cook, grappler, photon wrangler. Follow him on Twitter and Google+.

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Reader comments

Apple offers Tim Cook 1,000,000 reasons to stay until 2021

7 Comments

hmm I could use a few of those. Good luck Tim wish ya the best of luck. Even though you have been doing this job for awhile already.

All I can say is that he obviously cares a lot about apple! I got a reply to an email I sent to him at about 6:30 US Time and the IP Looks like a Public WiFi place (AT&T Wayport). To be honest though he's pretty much been CEO since January and everything looks like it's going smoothly, so I'd expect Apple will continue to keep growing at the same rate.

Cable has much more commercials.... But there's DVR!!!! You can fast forward thru them. I too wouldn't pay for HULU. I love the ABC iPad app. Other networks should follow ABC's lead.