27 Aug '11, 12am

New Apple CEO Tim Cook has been awarded one million shares in the company, a bonus worth more than US$383 million

New Apple CEO Tim Cook has been awarded one million shares in the company, a bonus worth more than US$383 million

Apple's new chief executive Tim Cook (above) has been awarded one million shares in the company, a bonus worth more than US$383 million (S$460.7 million) at the current stock price. -- PHOTO: AFP WASHINGTON (AFP) - Apple's new chief executive Tim Cook has been awarded one million shares in the company, a bonus worth more than US$383 million (S$460.7 million) at the current stock price. Apple disclosed the award in a mandatory filing with the US Securities and Exchange Commission. The stock will be doled out in two tranches, 50 per cent in 2016 and the remainder in 2021, 'subject to Mr Cook's continued employment with Apple through each such date', the filing said. Mr Cook, 50, replaced Apple's legendary co-founder Steve Jobs as chief executive of the California gadget-maker on Wednesday. Please enable JavaScript to view the comments powered by Disqus. blog comments powered...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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