Rank: Member Joined: 8/16/2012 Posts: 661
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Apple Board Modifies Tim Cook CEO Bonus Stock Award to Be More Performance BasedQuote:The Committee intends for future stock awards to Apple executives officers to be performance-based and Cook will lead by example. However, though normal performance-based compensation normally has both an upside and downside, at his request, Cook's award will solely have a downside component.
The original award would have given Cook 500,000 shares of Apple stock in August 2016, with another 500,000 in August 2021.
The new, amended package will give Cook 100,000 RSU's in August 2016, another 100,000 RSU's in August 2021, and the remaining 800,000 RSU's in ten equal allotments over the ten-year life of the initial award. Live and learn; and don’t forget, nothing ventured, nothing gained.
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