Apple CEO Tim Cook bagged a huge award when he took the helm at the fruity firm last year. Cook received one million restricted stock units (RSU), an award worth over $376m according to the closing share price for Apple on 24 August 2011, the date the stocks were signed over. However, he can't rush out and sell straight away. …
OMG Did you read the headline before you submiited it
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It's the Register, techfan
That's why we read the Register!
money for nothing and your chicks for free.....
Maybe the guy has to wait to vest, but he can make a total balls up of the company and still walk away with more money than you or I will make in our lifetime. Why? He's done nothing except be in the right place....
to be entirely fair
many people could have probably have done his job just as well or better, but he did have to be a highly competent, diligent, and put up with at least one fairly unpleasant boss to do it (compared to certain members of the financial industry who have received similar compensation, this is quite favorable). that said, executive compensation has long since become more than a bit farcical.
1 milion pennies is only10thousand dollars
he will only be rich on his bonus if the company does good. if he loses patent lawsuits , or has to pay to use some , profits drop... so does his payout. if the market moves other then he does , he losses... if he pisses off to many other patent holders or drops off in the wrong direction, he losses. if america goes tits up with europe , expensive phones loss, so does apple...
then thier is china , no respector of patents and the next biggest group of consumers...loss loss loss of course then there are ppl like me who do not need such overly expensive ,over priced ,over hyped stuff.. my last apple wasn't , it was a 6502 copy tho...just my 2 shares worth [presently worth 2 cent per share][maybe] pss did you see the reports that apple i# is not bought much in africa and asia? androide is doing well? with out steve, it might be time to short
If he starts wearing turtle necks and acts like a control freak. If so, he'll fit right in and go far.
Nice package ...
So working on current salary and assuming his shares stay constant for 10 years and finally assuming he works 7 days a week, hes effectively on $105k a day. Nice
I think I detect a little...
Nice......and completely ludicrous. Paying the CEO this much moolah is exactly what will kill Apple. I think it's important to recognise that Apple are probably only going to go down from here, so money spent on exec packages is just money being stolen away from shareholders.
What happens to the value if the stock tanks in 5 years? Does he get to write all that off at a loss?
Paris loves a big package
...and does he pay taxes on this "payment in kind" like the rest of us serfs do if we get any kind of "benefit" from our employers which might be classed as payment in lieu of wages?
I think you'll find he's covered either way. Senior Executive remuneration packages often have clauses that minimise their potential loss and taxes while maximising the return, all at the cost of the regular stockholders. They also don't usually have the vesting periods that regular employees have with stock options and seem to have very flexible terms on repayments if they borrow money from the firm to pay for options.
But then whose going to rock that applecart when the rest of the people deciding the payment are in on the same deal?
What should but never will happen, is a return to the pre-JFK rates of income tax. It's worth noting that the USA's highest productivity and general wealth growth happened during their highest income tax rates for the rich.
Money begats Money for Short Naked Selling of Long Great Game Plays ...
....... and Provides the ARGonauts Dividend/Source Seed Feed? :-)
Who gets to play with Steve Jobs' considerable wedge, [the markets or Apple] or is that locked away and untouchable and a valuable cloak used to cover the reality field with the perception that an orderly creative succession has been maintained and/or perfectly engineered with new virtual novelties to take the markets by storm, with Apple leading Cloud Phormations with Pure IMPerfectly Applied ProgramMING Programs ...... SMARTSCADA Pogroms.
Having nice new shiny toys and communicating gadgets is all very well, but the bottom line which decides what is to become of all of them and what will become of all of those who use them, is wholly and soley dependent upon what sort of programming they can deliver to alter and destroy/seek and find and remove the destructive courses and mad executive policies of punitive Man, and replace all the bad stupid news with much more information on the the ways in which new advanced and astute intelligence, sometimes even to be trailed and trialed as artificial and alien in ProgramMING Fields of a Cosmic Multidimensional Nature, is replacing the Present and Past Defaults and Memory Banks with Innovative Future Content , as Fabless Prepared in PreTexted PreFetch Facilities/Utilities/Operational Conversion Control Units ........ Master Pilot Base Stations.
All well and good, but how many parking spaces does Mr Cook get to use?
Invalid Parking Space?
Does he have the nerve not to use a number plate too? Steve was definitely a one-off CEO.
PS Gordon Crawford, 1/10. See me after class, I've read better written messages from Nigerian scammers - English teacher