Apple revises Tim Cook's option deal to reflect stock price drop
Under the new plan, should Apple's shares outperform the market over the next 8 years, Cook will get to keep the 1 million Apple shares that originally he was to receive regardless of how the stock fared. But if Apple underperforms the market over the same time period, the board could take away 40% of the shares. In August 2011, when Cook received the pay package, the 1 million share were valued at $383 million. Last September, they were valued at more than $700 million. Today, the shares are worth $413 million.
Despite the revision to his pay package, Tim Cook still has the full support of Apple's board, according to a document filed with the SEC. The executive himself asked Apple to put more of his pay at risk. Consider that his pay package has no upside to it. If Apple goes on to outperform the broad market over the next 8 years, Cook will receive the 1 million shares he was promised and not a share more.
1. ihatesmartphone (unregistered)
Good luck with your new pay package...
2. darkkjedii (Posts: 15550; Member since: 05 Feb 2011)
That dude is filthy rich, and you wanna make fun of his pay package. I bet you wish you made a 16th of what he makes. With that kinda money you don't need good luck.
3. ihatesmartphone (unregistered)
4. Napalm_3nema (Posts: 1671; Member since: 14 Jun 2013)
Maybe he can ask J.K. Shin for some tips...oh, right, I forgot that Apple lost stock value on perceived softness, whereas Samsung is losing because people have stopped buying.
5. iushnt (Posts: 960; Member since: 06 Feb 2013)
Any proof on people have stopped buying Samsung products apart from analysts estimations?
7. darkkjedii (Posts: 15550; Member since: 05 Feb 2011)
No, your statement was lame, and jealous. You are a couch potato apple hating fanboy. He's a multi millionaire CEO, of the most valued tech company on earth. You're hating...now lol that. Go run some speed tests on your quad core phone, and let Mr Cook handle his huge pay days.
8. ihatesmartphone (unregistered)
Can't wait to buy iphone 5s/6!! :)
10. Dorothy69 (banned) (Posts: 498; Member since: 21 May 2013)
It's nice to wake up on a Saturday morning and gaze at your Dark & Lovely'ness. I feel bad for our leader and iCEO but, you're kinda' taking a serious discussion about the abysmal stock value drop of "Our Makers" and handling it like an immature Lollipop Guild kid. There really is no need to stoop to such a level; you should feel confidence and pride in knowing that when our beloved Apple releases iOS7 on our next iPhone, with it's rAiNbow BriTe Theme, everything will change and a new revolution will hence forth.
9. Dorothy69 (banned) (Posts: 498; Member since: 21 May 2013)
je je je ..... iPaycut
(Wow, that stock has taken a NOSE dive)
11. tedkord (Posts: 7355; Member since: 17 Jun 2009)
So, instead of the 400 million dollars they're worth today, he will only get 260 million dollars?
How's a guy supposed to live on that?
12. roscuthiii (Posts: 1949; Member since: 18 Jul 2010)
What happens if he doesnt make it the 8 years???
15. InspectorGadget80 (Posts: 7035; Member since: 26 Mar 2011)
I hope their shares will SHRINK FURTHER.
19. darkkjedii (Posts: 15550; Member since: 05 Feb 2011)
What you're failing to realize, is that shares and market cap value are two different things. Despite their stock falling, they're still "by far" the most valuable tech company on earth. Current market cap for apple is 388.1B for google it's 292.8B. I'm sure that doesn't sit well with fanboygadget80, but it's current as of rite now.
16. lyndon420 (Posts: 2964; Member since: 11 Jul 2012)
They better pump out their new iwatch accessory soon before Tim loses his shirt.