Today we are you informed about that Tim Cookas CEO Applu, received a huge package of shares. However, this is not an isolated situation and also Steve Jobs was rewarded in this way. Exactly 17 years ago, on August 29, 2001, the board of directors approved a package of shares for Jobs at its meeting. However, at that time, it turned into a scandal that had to be resolved by the court.
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Jobs was to receive 7.5 million shares, and at the time it was decided, the price of one share was $17.83. However, thanks to his disagreements with the company's board of directors at the time, the final agreement was not made until December of the same year. During that time, however, the price of one share rose to $21.01, and Jobs "earned" more than $20 million through these delays. The question remains whether he intended to achieve this result by his behavior, as he later claimed that this was not the case.
Steve Jobs He was a special person in many ways, but Apple he wouldn't be what he is without him.
As a result, Jobs was not directly found guilty, and the fine for so-called "backdating" of $2.2 million was paid by the former chief legal officer. Applu. The company approved the fake documents to hide their backdating. A company spokesman said at the time that after a long investigation, a special committee found no wrongdoing in the behavior of Jobs or any other member of the current management, and the board of directors expressed complete confidence in the entire senior management.
In 2008, Jobs stated that the whole situation was not so much about money on his part, but rather that he wanted to be recognized in the company because he felt unwanted in management.
Maybe I'm doing my math wrong, but he was supposed to get 7,5 million shares, he got 7,5 million shares, so if he got them earlier, he'd still make the same profit, it depends on when he sold them. Not when he got them…
documents are dated, from the Latin ante-before.. for example AM is ante meridiam, before noon :)
and as he writes above me, if he received the same number of shares, he only made money by selling..
Well, I'm on the best way to get rich 😃 choleric middle name 😀
But maybe you're missing one little thing - those 7,5 million shares. Applol :-)