Apple CEO Tim Cook has been awarded company stock with a market value close to US$58 million, according to an SEC filing, as noted by Cult of Mac (http://tinyurl.com/nqmc4bf).
The award came with stipulations that Apple’s TSR performance had to be in the top third of S&P 500 companies. The company now ranks 46th, which meant Cook’s stock options were vested. If Apple had wound up in the middle of the S&P 500, Cook’s award would have been reduced to 50 percent, while a placement in the bottom third would have earned him nothing, notes Cult of Mac.
Cook still has 4.76 million outstanding restricted AAPL stock units, which will vest in 2016 and 2021. An additional 1.68 million will vest in six annual installments beginning 2016.