Feeds

Tim Cook scoffs $11m slice of warm Apple pie

Fruity tech chief flogs 20k shares

Intelligent flash storage arrays

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.