Apple CEO Tim Cook received on Friday, 1.26 million shares of Apple, valued at a total of $ 135 million. The allocation of shares was in line with the share option programs as CEO of the Silicon Valley giant has been with the company and that could see him receive a total of seven million shares until 2021, writes the Wall Street Journal.
of the allocated entry chose Tim Cook to sell part of the shares, worth a total of $ 36 million, according to the submitted documents.
Additional shares at a value of 71 million were dumped to cover the taxes.
Tim Cook took over as CEO of Apple in 2011. In connection with the takeover, he was given a million RSU shares, the ie shares that one gets after having met certain requirements, such as earnings or to stay on his post for some time. The figure is now at seven million because of a previous stock split.
According to the initial agreement, half of the shares have been awarded to Tim Cook during the current year. Of the 1.36 million shares he received was 280.000 pieces related to the company’s performance on the stock market. Apple has struck more than two-thirds of the companies in the S & amp; P 500 index over the past three years. The share is, however, a full 20 percent lower from its peak in May 2015.
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