Apple CEO poised to get US$750mil final payout from award

Apple’s soaring stock price has allowed Cook, 60, to collect top payouts year after year and made him a billionaire. — AFP

Tim Cook, Apple Inc’s chief executive officer, will this week collect the 10th and final tranche of the pay deal he received a decade ago after he took over the top job from co-founder Steve Jobs.

The haul consists of about five million shares worth roughly US$750mil (RM3.14bil), according to calculations by Bloomberg News. Part of the payout is contingent on Apple’s stock return over the past three years surpassing at least two-thirds of companies in the S&P 500 – a threshold the iPhone maker cleared by a wide margin.