The Wall Street Journal reports that data from executive compensation tracking firm Equilar shows Apple CEO Tim Cook set to see a major windfall during the first quarter of 2012 with the vesting of two separate restricted stock unit grants currently valued at nearly $100 million.
Apple's C.E.O. Tim Cook has donated $100 million to two separate organizations: $50 million to Stanford's hospital and another $50 million to Project Red. Stanford has already used some of the money to expand their existing facility and about $25 million for a new children's hospital. Bravo Tim Cook.
Apple CEO Tim Cook
According to the report, about $25 million of the donation from the Apple Inc. (NASDAQ:AAPL) CEO has been used by Stanford's hospitals for building a new main block and $25 million for a new children's hospital.
Apple Inc. (NASDAQ:AAPL) shares were at 455.12 at the end of the last day's trading. There's been a 14.8% movement in the stock price over the past 3 months.
The vesting stock is separate from an award of one million share units given to Cook as he officially took on the role of CEO. That grant is worth $415 million at today's stock price, but will not vest for a number of years. Cook will receive half of the shares in 2016 and the remainder in 2021, with both events contingent upon Cook remaining CEO of Apple.
This comes days after fallout from an investigative article in The New York Times about hazardous working conditions in a Chinese factory that manufactures Apple iPads. Cook responded to the article saying, "We care about every worker in our worldwide supply chain. Any accident is deeply troubling, and any issue with working conditions is cause for concern. Any suggestion that we don't care is patently false and offensive to us."
Source:
1.Apple CEO Tim Cook Set to Reap Nearly $100 Million in Vesting Stock This Quarter
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