One of today’s reports says that Tim Cook received $89.2 million in company stocks. It equals £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 its 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 an annual basis from a massive pot stock of the company. The stock has been good enough to invest in for more than a decade.
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Now, about one-third of Cook’s annually received shares are connected with the relative stock performance of the company. This is against the S&P 500 index.
As far as the index is concerned, Apple exceeded performance standards for at least two-thirds of businesses. The company’s share price went up to an amazing $159.75 (£123.34) earlier in August. Apple also exceeded the expectations of Wall Street as per the third quarter performance standards.
In 2015, Tim Cook said that he wants most of his wealth to go to charity.
Source: Business Insider