Tim Cook gets $12.3m in stock for minding the store [very well]
If I had a multi-million dollar payday, there’s a very good chance you wouldn’t see me around here much anymore. For people, such as Apple Chief Operating Officer, a laid back man not known for saying more than he needs to, coming into that much money probably was a happy day, but not a turning point per se — it’s the game, the chase that get people like him out of bed in the morning. That is, treasure is an affirmation, but not the measure of self worth.
Tim Cook has come into some money, a nice piece of change. Business Insider, quoting Apple documents filed with the Securities and Exchange Commission, reports that Steve Jobs go-to guy has been awarded $12.3 million in stock as a reward for ably filling the void while the iCEO was on medical leave.
Cash and stock remuneration for Apple executives:
• Cook was previously awarded stock worth $7 million (2007) and $6 million (2008)
• His 2009 salary was $800,000, up from $700,000 in 2008
• He also earned an $800,000 cash bonus for total 2009 pay of $14 million
• CFO Peter Oppenheimer more than doubled his stock award from $4.1 million in 2008 to $8.8 million in 2009, plus a salary of $700,000 and cash bonus of $700,000
• Mac hardware engineering chief Robert Mansfield took home $600,000, plus a cash bonus of $537,000 and stock award of $12.2 million.
• iPhone head Scott Forestall banked a $600,000 salary, plus a $275,000 bonus and $12 million in stock
• Steve Jobs took his traditional $1 paycheck, though didn’t get cash or stock bonuses this year.
Of course, even in the midst of a generation defining economic collapse, Apple had one of its best year’s ever and the holiday quarter, the company’s first fiscal, looks to be another blowout.
Still, are Jobs, Cook, Forestall, Oppenheimer et al worth this kind of payroll?
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