When Tim Cook was appointed CEO of Apple earlier this week, he didn’t just take over from one of the most prolific, influential and most well-loved technology icons of all time, he also received an award in the form of stock options for his new position.
According to a new SEC filing uncovered by Mashable this evening, Apple has awarded Cook with 1 Million new shares in Apple – and at today’s close off of $383.58 – that values his 1 Million stake in the company at a staggering $383 Million.
Here’s the catch. Cook cannnot collect on his full fortune until 2021, meaning Apple just assured that top leadership in the company isn’t about to change for the next 10-years. Cook can, however, cash out half of his earnings from the firm on August 24, 2016, but the now 50-year old will have to wait until August 24, 2021 to cash out the other half.
And that’s just today. Who knows what valuation Cook will be able to place alongside those 1 Million Apple shares a decade from now. Multi-Billion dollar pay day, anyone?
No wonder he’s smiling.