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August 28, 2021 01:25 am

Tim Cook Gets $750 Million Bonus On 10th Anniversary As Apple CEO

Tim Cook celebrated 10 years as Apple CEO by collecting and selling off three quarters of a billion dollars' worth of stock. CNN reports: The transactions were revealed in a regulatory filing Thursday, which showed that Cook had acquired and sold more than 5 million shares of the iPhone maker. As head of the world's most valuable company, Cook has received lofty stock awards in recent years. One of the incentives was tied to Apple's performance in the S&P 500 over the past three years. The stock award was triggered this week because the firm was one of the index's top performers, generating shareholder returns of nearly 192% from August 2018 to 2021, it said in a filing. Cook's windfall came just days after he also donated 70,000 Apple shares (worth about $10 million) to charity, according to a separate regulatory filing Tuesday. It did not disclose the name of the recipient. Cook joined Apple in 1998 and served in a variety of senior roles before assuming his current position, including chief operating officer and executive vice president of worldwide sales and operations. He was named CEO in August 2011, after co-founder Steve Jobs famously stepped down. Jobs died weeks later from complications of pancreatic cancer. Prior to joining Apple, Cook worked at Compaq and IBM (IBM).

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