Apple CEO Tim Cook acquired $115 million worth vested Apple Stock after AAPL exceeded performance expectations. 560,000 restricted stock units have been vested for Tim Cook, a new filing in Securities & Exchange Commission suggests.
The number of performance-based RSUs that vested was determined based on Apple’s total shareholder return (TSR), relative to the other companies in the S&P 500 over a three-year period from August 25, 2016 through August 24, 2019.
Apple’s beginning value was calculated to be $108.01 (adjusted for dividends). Similarly, the ending value used for calculating TSR is the average closing price for the 20 trading days ending on August 24, 2019. Apple’s ending value was calculated to be $216.24 (adjusted for dividends).
Tim Cook was granted 280,000 Apple Stock units for his continued employment in Apple while another 280,000 stock units were granted for meeting the performance expectations.
These shares granted to Tim Cook are valued at approximately $115 million. Tim Cook has 1,820,000 restricted stock units in this award. 700,000 restricted stock units vest on 24th August 2021.
You can read full SEC filing here