Apple CEO Tim Cook could top pay list in 2011

News: Page (1) of 1 - 01/10/12

Apple CEO Tim Cook could top pay list in 2011 Apple CEO Cook pay could lead in 2011 with $378 million pay package due to restricted stock By The Associated Press

LOS ANGELES (AP) ' Tim Cook could well end up being the highest paid CEO in America in 2011, after Apple Inc. granted him a million restricted stock units last August for taking the reins shortly before cofounder Steve Jobs died.

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 the rest.

In comparison, Jobs took $1 annual salary for years and owned about 5.5 million shares, worth about $2.3 billion today.

Cook's restricted shares are now worth $422 million.

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Keywords:Apple-Executive Compensation,Wages and salaries,Personnel,Business,Corporate management,Corporate news
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