Apple CEO Tim Cook will soon be $50 million richer after selling 223,986 shares of Apple Stock, earning him a total of $50,276,076, according to an SEC filing. Cook was originally granted the stock as part of performance-based award based on Apple's shareholder return relative to other S&P 500 companies, and he often sells stock in October.
Earlier this week, Cook was granted an additional 219,502 shares of Apple stock. 54,876 shares are set to vest in one-third increments in April of 2027, 2028, and 2029. 164,626 shares are performance-based and will vest on October 1, 2027. Depending on Apple's performance between fiscal 2025 and fiscal 2027, between 0 and 200 percent of the target number of shares can vest.
The total bonus will depend on Apple's total shareholder return relative to other companies in the S&P 500 over the next two years.
As of early 2024, Cook owned over three million shares of Apple stock, along with an additional 1.3 million unvested RSUs. Cook's unsold stock is worth over $500 million, and stock grants make up the majority of his total compensation.
In 2023, Cook's base salary was $3 million, but he also received $47 million in stock awards, $10.7 million in performance-based bonus awards, and $2.5 million in other compensation, such as 401(k) contributions, term life insurance premiums, vacation cash-out, security expenses, and personal air travel expenses.
