Feeds

Tim Cook scoffs $11m slice of warm Apple pie

Fruity tech chief flogs 20k shares

Reducing security risks from open source software

Tim Cook took advantage of some of his oodles of Apple stock over the end of last week, taking possession of 37,500 shares and converting them to cash.

Cook sold 20,178 of the shares for a tidy profit of $11.1m, using the rest of the shares to pay off the tax and other expenses of the transactions, according to a filing with the Securities and Exchange Commission.

No doubt the head honcho of the fruity firm needed some readies, since his stated salary at the-new-iPad maker is just over $1. However, this is well rounded out with a million restricted stock units (RSUs) - promises of a certain amount of stock at a certain time - half of which can be vested in August 2016 and the remainder in August 2021.

RSUs are a typical motivation tool for top execs, aiming to tie their fate to that of the company (or at least the company's stock price) so they keep their eye firmly on the ball.

As well as those RSUs, Cook held 13,754 shares in Apple as of December 17, 2011 and a further 362,500 unvested RSUs, according to another filing.

Assuming that Apple stock averages around the $530-mark up to 2021 and he sells them all, that would give Cook a potential $721.9m remuneration - not including the additional RSUs he'll no doubt be awarded in the next nine years.

And the chances are, at least at the moment, that Apple's stocks could be worth a lot more than $530. The fruity firm is currently the world's most valuable company according to the markets, with shares valued at $552 as of close of trading in New York yesterday. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.