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published photo, Reuters
The bonus was one of the terms of the deal that Cook took over management of the business
Apple has awarded more than 5 million of its shares to its CEO, Tim Cook, after 10 years at the helm of the company.
The United States Securities and Exchange Commission revealed that Cook sold the majority of the shares for more than $ 750 million.
The bonus is one of the conditions of the deal he made with the company when he took over the management, succeeding the previous manager, Steve Jobs. The deal also stipulated that the value of the bonus would be spent based on the rise in Apple’s shares against competing companies.
The company decided that Cook deserved the bonus because its shares had risen 191.83% over the past three years, noting that Apple’s stock price had risen 1,200% since Cook took control on August 24, 2011.
Today, the company, which produces the iPhone, iPad, and MacBook, is worth nearly $ 2.5 trillion in the global market.
Last year, Cook agreed to a salary and bonus that expire in 2026.
The agency revealed earlier this week that last year Cook donated around $ 10 million in Apple shares to undisclosed charities.
In 2015, Cook recommended giving his entire fortune to charity after his death, and is known to have donated tens of millions of dollars.
The Bloomberg Index currently estimates Cook’s Revolution at nearly $ 1.5 billion.
Cook has spoken at public events about his concerns on issues such as HIV / AIDS, climate change, human rights and global equality.
He joined a group of wealthy Americans who pledged to donate all or much of their wealth.
In 2010, Microsoft founder Bill Gates and investor Warren Buffett launched the Donation Initiative, in which they called on billionaires to donate at least half of their fortune.
Earlier this year, Buffett donated $ 4.1 billion in shares of his company, Berkshire Hathaway, to charity.
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