Following Tim Cook’s appointment as the new CEO of Apple, Apple’s board awarded Cook with 1,000,000 shares of Apple stock, which he will receive after remaining the CEO of Apple for at least 10 years.
500k of those shares will be dispensed on August 24, 2016, and the remaining shares will be granted on August 24, 2021, giving Cook an extremely strong incentive to stay with Apple for at least the next decade.
Current prices as of this morning make the stock worth about $390 million, and that number is likely to rise over the years.
