The chances are good that Tim Cook has very different money problems than you or me. I know I didn’t get a $125 million bonus a few weeks back, but then again, I’m not the CEO of the first trillion dollar company either.
Last week, the Apple CEO received $125 in performance awards for leading the Cupertino company in the form of 560,000 shares of Apple stock. Now, according to a SEC (Security & Exchange Commission) filing, Mr. Cook has sold some 265,160 of those shares with various values. The net result is a $57.8 million cash windfall for him. Because Apple is a public company (traded under APPL on Nasdaq), all financial disclosures like stock sales such as this are required to be made public.
As part of his compensation package, Mr. Cook will continue to received 560,000 of Apple stock each year for the next three years assuming that he stays on as Apple’s CEO and the company continues to perform. The compensation package is not dissimilar to those of other companies.
According to a profile on Tim Cook in 2015 in Fortune, he plans to systematically giveaway his wealth over the course of his lifetime. This is similar to other ultra-wealthy CEOs such as Bill Gates.