Apple chief Tim Cook gets $750 million payout as he marks 10 years in the job
It is part of a deal he struck when he took over from co-founder Steve Jobs
Apple Inc Chief Executive Officer Tim Cook. Photo: Apple
Apple Inc Chief Executive Officer Tim Cook has received more than five million shares in the technology giant, as he marks ten years in the job.
A company filing with the US Securities and Exchange Commission (SEC) watchdog shows that he sold most of the shares for more than $750 million, reports the BBC.
It is part of a deal he struck when he took over from co-founder Steve Jobs.
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The award depended on how well Apple's shares performed compared to other firms on the S&P 500 stock index.
According to Apple's filing with the SEC, Mr Cook was eligible for the award as the company's shares had risen by 191.83% over the last three years.
It also noted that Apple's share price has increased 1,200% since he became chief executive on 24 August 2011.
