Apple boss gets $22m bonus
Nice day rate for six months' work
Posted in Financial News, 15th March 2010 09:36 GMT
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Apple's chief operating officer Tim Cook got a cash bonus of $5m and a bunch of share options for filling in while Steve Jobs was off sick
For covering the top job for six months while Jobs got a liver transplant Cook got $5m in cash and 75,000 share options - half will vest in March 2011 and the other half in March 2012, as long as Cook is still with the company.
The payment was made on the recommendation of Steve Jobs and was unanimously approved by the compensation committee, an SEC filing reveals.
At today's prices the total bonus works out at about $22m for six months' work - not bad money. But to be fair Apple had a pretty good six months while Cook was in the hot seat. ®
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