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+--- Thread: It's disgraceful what they pay their people! How can you live on this? (/showthread.php?tid=130170)
It's disgraceful what they pay their people! How can you live on this? - Lux Interior - 01-10-2012
Tim Cook may top the list of highest paid CEOs:
An Associated Press review of a securities filing shows Cook's pay package was valued at $378 million. The vast majority came in a grant of a million restricted stock units worth $376 million at the time. Half of the stock units will vest in August 2016, the other half in August 2021.
His salary and performance bonus, about $900,000 each, made up much of the rest. He also made $16,520 from company contributions to a 401(k) retirement account and company-paid life insurance premiums.
Jobs did it for a buck a year!
(and a private jet and lots of stock bonuses, but who's counting?)
But seriously, how do you give someone a performance bonus of $900,000 and then give them a third of a billion dollars "extra"? What's that? A super duper extra special performance bonus?
http://finance.yahoo.com/news/apple-ceo-tim-cook-could-003124192.html
Re: It's disgraceful what they pay their people! How can you live on this? - mattkime - 01-10-2012
otherwise he wouldn't show up for work!
Re: It's disgraceful what they pay their people! How can you live on this? - mrbigstuff - 01-10-2012
generally, I adamantly oppose these ridiculous compensation packages, but I think this fact is germane to the issue: Half of the stock units will vest in August 2016, the other half in August 2021
Re: It's disgraceful what they pay their people! How can you live on this? - Will Collier - 01-10-2012
mrbigstuff wrote:
generally, I adamantly oppose these ridiculous compensation packages, but I think this fact is germane to the issue: Half of the stock units will vest in August 2016, the other half in August 2021
Bingo. If the company doesn't perform during that time, he won't make anywhere near that much money. If it does, he'll have earned it.
Re: It's disgraceful what they pay their people! How can you live on this? - OWC Jamie - 01-10-2012
Re: It's disgraceful what they pay their people! How can you live on this? - clay - 01-10-2012
mrbigstuff wrote:
Half of the stock units will vest in August 2016, the other half in August 2021
I think I'd quit in September of 2016 and enjoy my 189 million.
Re: It's disgraceful what they pay their people! How can you live on this? - mrbigstuff - 01-10-2012
clay wrote:
[quote=mrbigstuff]
Half of the stock units will vest in August 2016, the other half in August 2021
I think I'd quit in September of 2016 and enjoy my 189 million.
me, too
Re: It's disgraceful what they pay their people! How can you live on this? - Lux Interior - 01-10-2012
Will Collier wrote:
[quote=mrbigstuff]
generally, I adamantly oppose these ridiculous compensation packages, but I think this fact is germane to the issue: Half of the stock units will vest in August 2016, the other half in August 2021
Bingo. If the company doesn't perform during that time, he won't make anywhere near that much money. If it does, he'll have earned it.
He got a million shares. If AAPL fall to $50 he still makes a nice haul. A lot more than his salary is paying him over those 4-9 years.
Re: It's disgraceful what they pay their people! How can you live on this? - cbelt3 - 01-10-2012
I noted that 'hot' article too. After reading the Jobs bio, the role that Tim Cook holds in Apple during Job's illness is also central to the success of Apple.
Jobs demanded and received some major stock options as well, to the point that there was an SEC investigation about post dating, and some board resignations. Remember that ?
Re: It's disgraceful what they pay their people! How can you live on this? - $tevie - 01-10-2012
This is the corporate culture. It's repugnant to me, but I am not sure how one goes about using technology without supporting it.