Apple has awarded new CEO Tim Cook 1 million shares of stock.
Half the stock will vest in five years, another half in 10 — on August 24, 2021.
The award was disclosed in an SEC filing this afternoon, and the long vesting period shows that both parties are in this for the long haul — Cook is not interim anything. He’s the CEO of Apple.
At today’s prices, those shares would be worth $383 million.
But here’s a fun thought experiment. In the last 10 years, Apple’s stock has gone up to more than 40 times its starting value. If Cook were somehow to duplicate the success of his predecessor, that stock would be worth more than $15 billion.