We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Tim Cook, new CEO of Apple
Tim Cook

Apple wants Tim Cook to stay on as CEO until at least 2021

It looks like Apple want to make sure Tim Cooks stays around until at least 2021 – offering him golden handcuffs currently worth $389m.

APPLE HAS OFFERED its new chief executive officer massive incentives to lead the company until at least 2021.

Those incentives include 1 million shares in the world’s second most valuable company.

According to the Apple’s 8-K filing with the US Securities & Exchange Commission, Tim Cook will see 500,000 of his 1 million stock units vested on 24 August 2016 if he is still with the firm.

On 24 August 2021, the remaining 500,000 shares will vest.

Currently, the so-called golden handcuffs are worth US$389.7m. In ten years time, the shares could be worth a lot more if Cook continues the work of Steve Jobs, who guided Apple to new heights since he rejoined the company in 1996.

The SEC filing also confirmed that the former CEO and the company’s co-founder has been appointed as chairman of the board and will remain at Apple as an employee.

Read: How will Steve Jobs’ successor fare?>

Watch: The life lessons of Steve Jobs>

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Your Voice
Readers Comments
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.