As kept in mind in a filing with the U.S. Securities and Exchange Commission today, Tim Cook on Monday was awarded 560,000 restricted Apple stock devices. Cook was provided these stocks as time and performance awards. At Apple’s stock rate at the end of day Tuesday of $ 103.12, those stocks deserve roughly $ 57.5 million.
Cook chose not to sell any vested restricted stock units, although 290,836 were withheld by Apple to keep in line with minimum statutory tax withholding requirements.
In order for these limited systems to vest, Apple’s TSR performance needed to fall in the top third of business in the S&P 500. According to the SEC files, Apple 76 percent TSR efficiency ranked 46th, implying that Cook was granted with the stocks. Had actually Apple not been ranked in the leading 3rd, the award would have been lowered by 50 percent if it remained in the middle third, or to no if it remained in the bottom 3rd.
There are still 4.76 million exceptional limited stock systems that are set up to vest in 700,000 device increments in 2016 and 2021. Another 1.68 million will certainly vest in six annual installations starting in 2016.
via Apple Insider
Submitted under: AAPL Company Tagged: APPL, Apple, stock, Tim Cook
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