Apple chief executive receives 5M+ shares from Apple

Tim Cook, the Apple Chief executive, has received more than the amount of 5 million in shares in the technology giant. He has marked ten years in his job. A company filing along with the US Securities and Exchange Commission watchdog shows that he has sold most of his shares. It is worth more than $750m.

It is part of a deal that he struck when he took over the position of Apple chief executive from Steve Jobs.

This award is dependent on how well the shares of Apple have performed compared to other firms in the stock index of the S&P 500.

According to the filings of Apple with the SEC, Mr. Cook has become eligible for the award. This happened as the share of the company rose to the mark of 191.83% over the last 3 years.

It has also been noted that the share price of Apple has increased up to the mark of 12005 since he took his position. The company, apart from its products like iPhone, iPad, and macOS devices, is also having a market valuation of $2.5tn.

Previously Mr. Cook agreed to a new pay package that runs up to the end of 2026. A second filing is also shown that earlier this week, he had donated around $16m shares to a charity. The name of the recipient is still unknown.

In 2015 Mr. Cook said that he is thinking of giving away his fortune before he meets death. He has donated ten million dollars to a charity. He currently has a net worth of $1.5bn.

Also, he often speaks publicly about his concerns regarding the issues of aids and HIV. Also, he shows his concern to cover issues like climate change, equality, human rights, etc.

He follows other rich US business persons who have said that they would give away their significant portion of fortune during their lifetime. Earlier this year, Mr. Buffett made his donation to the charity worth $4.1bn worth the share in his company Berkshire Hathaway.

Credits: BBC