Apple changed Tim Cook’s pay package putting 40% of his 1 million Apple shares at risk if the company’s stock doesn’t outperform the market over the next eight years, according to a document filed with the SEC.
That means Cook could lose millions if Apple’s stock price continues to slide. He now has a huge incentive to make sure that doesn’t happen.
However, the document also states Apple’s board has full confidence in Cook to lead the company.
“Mr. Cook is leading this initiative by example and has the full support of the Board of Directors,” the document says.
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