Apple CEO Cook Gets 1 Mln Share Retention Award
SAN FRANCISCO – Apple Inc. said late Monday its Chief Executive Timothy Cook is getting 1 million restricted stock units as a promotion and retention award. Half the units will vest on Aug. 24, 2016 and the other half will vest on Aug. 24, 2021. For financial reporting purposes, the award was based on Apple's Aug. 24, 2011 closing price of $376.18, for a total value of just under $376.2 million. Apple shares closed at $421.73 Monday after hitting a record high intraday. They traded flat after hours.
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