Apple's head Tim Cook given stock options worth $376 million, the largest CEO package in a decade
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Apple has given its current CEO Tim Cook a gigantic retainer package in the form of restricted stock options to vest in 2016 and 2021, says today's proxy filing. The package has been worth north of $376 million based on the August 24 closing price of Apple's shares, when the options were granted.
This way the CEO has every incentive to nurture Apple's stock price for the foreseeable future, and the package may one day be worth over a billion, if Apple continues to shatter its sales records all the way to 2016, when half of the options can be converted. »read more
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Filed in: Apple