Tim Cook received options from Apple for 1 million shares of the company

News

Tim Cook received options from Apple for 1 million shares of the company

01.10.2020 News

Apple has given to CEO Tim Cook two options which can be converted into approximately 1 million shares of the company under certain conditions. This follows from the documents submitted by the corporation in the Securities and Exchange Commission (SEC) of the USA.

The first option is 333,987 shares with the restrictions, which the head of the company will receive in three tranches – from 2023 to 2025 – after the end of each financial year. The second option for the same number of the restricted shares is tied to the company’s performance: if the company achieves its goals, Mr. Cook will receive approximately 667,000 ordinary shares, and if the indicators prove to be a failure, the head of the company will not receive anything. They just completed delivery in 2025.

Apple is issuing options to Tim Cook for the second time: the first similar stake he received in 2011, when he just started to head the company. Performing of the last option will end of the next year. At the time of its receipt, the particular stake was valued maximum of $ 384 million, however, now it is worth of $ 963.5 million. The new package of 1 million Apple shares now estimated on the market of $ 114 million (In August, the company split the stock into four for attracting of the new investors).

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