According to the Wall Street Journal, Apple’s chief executive Tim Cook will soon be rewarded over $96,000,000 when portions of his restricted stock unit bonuses vest in the first quarter of 2012.
Mr. Cook has portions of two restricted-stock-unit grants—including one he received for filling in for Steve Jobs when the co-founder was on medical leave—vesting in the first quarter. As of Apple’s closing stock price on Dec 30, those vesting shares of Mr. Cook’s were worth $96.2 million, according to the study.
Last August, Cook was awarded with 1,000,000 Apple shares as a bonus for filling in as CEO during the absence of Steve Jobs. Although these stocks are restricted for the next ten years, they are currently trading for over $415,000,000. Talk about a “signing bonus.”