Apple donated a large stake to its CEO, Tim Cook. This is stated in a notice posted on Tuesday on the website of the US Federal Securities and Exchange Commission.
According to the document, 339,987 limited shares were donated to Cook. This is derivative security. The package price is not indicated.
“Tim has brought an unparalleled amount of innovation and focus [on purpose] to his job as CEO, demonstrating the value of value-based and integrity-based leadership,” Reuters quotes an extract from Apple’s board statement. “This is the first time in nearly a decade that we are awarding Tim a share grant that will come into possession over time in recognition of his outstanding leadership and deep faith in the future of Apple,” the council said.
Cook took over his current position in August 2011 shortly before the death of company founder Steve Jobs.