Apple CEO Tim Cook Again Awarded Maximum Payout in Company Shares

Tim Cook

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One of the today’s report says that Tim Cook received $89.2 million in company stocks. It equals to £68.8 million.

Last Thursday, the Apple CEO received 560,000 Apple stocks. It was to justify the 56-year-old’s latest feat at iPhone maker.

The amount of payout is the largest possible so far under the long term compensation program of Apple. Also, Tim Cook received the maximum payout for the fourth consecutive time.

The year 2011 saw Cook filling the CEO shoes of Steve Jobs. He receives payouts on annual basis from a massive pot stock of the company. The stock is good enough to invest from for more than a decade.

Now, about one-third of Cook’s annually received shares are connected with the relative stock performance of the company. This is against the index S&P 500.

As far as the index is concerned, Apple exceeded performance standards for at least two-thirds of businesses. The share price of the company went up to an amazing $159.75 (£123.34) earlier in August. Apple also exceeded expectations of Wall Street as per the third quarter performance standards.

In 2015, Tim Cook said that he wants that most of his wealth goes to charity.

Source: Business Insider

Apple CEO Tim Cook Again Awarded Maximum Payout in Company Shares