Alongside Tim Cook’s appointment as CEO of Apple, the company is granting him one million RSUs. Half will vest in exactly five years from his appointment, the other half in ten years.
At Apple’s current stock price, these shares would be worth a cool $383.5 million.
For you non-math majors, this works out to roughly $38 million a year to be CEO of Apple.
As a result, I fully expect Cook to take the symbolic $1 a year in salary that Jobs himself used to take (though perhaps a nice yearly bonus too so he can live before the vesting — though he did make $59 million after his bonuses last year).
What’s nice about the RSUs is that they directly incentivize Cook to keep the stock up, which more or less means keeping performance up. Not that he’d slack off otherwise…