Tim Prepare dinner receives over 5 million shares of Apple inventory price $750 million
Apple CEO Tim Prepare dinner attends Apple’s “Ted Lasso” Season 2 Premiere at Pacific Design Middle on July 15, 2021 in West Hollywood, California.
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Apple CEO Tim Prepare dinner obtained greater than 5 million shares of Apple inventory this week, promoting a lot of the inventory for greater than $750 million, in accordance with an SEC submitting posted by Apple on Thursday.
The tranche of inventory is the ultimate a part of the compensation package deal that Prepare dinner obtained when he took over as CEO of Apple 10 years in the past. Final yr, he acquired a brand new compensation package deal that runs via 2026. Nearly all of Prepare dinner’s compensation is within the type of restricted inventory models.
Prepare dinner obtained the most important quantity of inventory he was eligible for below the 2011 settlement, which relied on how Apple’s inventory carried out in comparison with different firms within the S&P 500.
Apple was within the high third of firms within the cohort, with complete shareholder return of 191.83% over the previous three years, rating 13th out of 442 firms, in accordance with the submitting.
Since Prepare dinner grew to become CEO in 2011, Apple inventory has risen greater than 1,200%.
Earlier this week, Prepare dinner donated nearly $10 million price of Apple shares to an unnamed charity, in accordance with an SEC submitting. Prepare dinner beforehand mentioned he’ll donate his whole fortune to charity. An Apple consultant did not reply to requests for remark.