Dukie has big payday at Apple Computer, just shy of $400 million
✔ As Loyal Readers know, Steve Jobs bowed out at the head honcho at Apple because of his health, and the man who has filled in for him three times over the years got the job permanently.
The new CEO: Timothy D. Cook, Fuqua MBA '88.
We were able to report on Cook's compensation last year: as chief operating officer of Apple, Cook had a salary of $800,000, a bonus of $5 million, and got restricted stock worth $59 million.
By contrast, Jobs took only $1 a year. But as founder of Apple, his stock was worth $8.3 billion as of March.
So... come on Fact Checker... what's the news. Enough with the background.
According to an Apple 8K filing with the Securities and Exchange Commission, the directors of Apple cemented the deal with Cook by giving him 1,000,000 shares of stock, worth $383,580,000. The value has since jiggled up a bit.
Cook must wait until 2016 for half the shares to vest and 2021 for the remainder. All subject to his continued employment.
Apple has yet to disclose what Cook's annual salary and perks will be -- aside from this signing bonus.