This is the largest sum Tim Cook has ever received since he sat on Apple’s CEO throne.
Apple’s Tim Cook just recently received restricted stock units that are worth over $76 million according to an official filing with SEC. This amount is only the first half of the RSUs which is set to pertain in one-third increments from 2023, 2024, and 2025. He will then receive a massive 111,329 shares every April of the year, starting this 2023.
In October 2023, RSU’s second half will be based on Cook’s performance and the company’s shareholder return. They speculate him to receive up to 200% of the 333,987 RSUs awarded for performance for next year. The target number of units that may get hold of is between 0% to 200% from Apple’s fiscal 2021 to the last day of the company’s fiscal 2023.
Apple’s Tim Cook Future Earnings
Approximately, Cook can earn over 1,001,961 shares worth more than $114 million as of today, and if Apple’s performance is at its peak. This is actually Cook’s first stock grant received since 2011 and the last one will be notable in this 2021. According to Reuters, Apple’s board of directors released a statement on Tim Cook’s RSU Award:
“Tim has brought unparalleled innovation and focus on his role as CEO and demonstrated what it means to lead with values and integrity. For the first time in nearly a decade, we are awarding Tim a new stock grant that will vest over time in recognition of his outstanding leadership and with great optimism for Apple’s future as he carries these efforts forward.”
It’s undeniable that RSU serves these bonuses for the executives as an encouragement to let them stay in the company at least for 2025. And there are so many speculations rising as when Tim Cook will stay in Apple. But during his last interview, he stated that:
“I consider it the privilege of a lifetime to be here in this role at this time. I love working with this team. I consider them family. It’s hard to explain. It may sound like messaging or something, but it’s not. It’s that deep in my heart, I really love the people I work with and currently it’s tough to envision my life without that. So we’ll see. At some point, of course, we all do something different, but at the moment, there’s no place I would rather be than right here.”
According to some speculations, the one who would replace Cook from the position would be given the current COO Jeff Williams. He has been rumored to be the one, for he has spent several years running its global operations. His responsibilities include overseeing the Apple Watch development and as well as the design and hardware oversight.
Williams is described as an operations-focused leader just like Tim Cook but quite different from the founder, Steve Jobs. And just this August, Greg Joswiak replaced Phil Schiller as the Senior Vice President of Marketing.