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Apple chief executive Tim Cook gets $750m payout

  • Sun Online Desk
  • 27th August, 2021 01:18:24 PM
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Apple chief executive Tim Cook has received more than five million shares in the technology giant, as he marks ten years in the job.

A company filing with the US Securities and Exchange Commission (SEC) watchdog shows that he sold most of the shares for more than $750m (£550m).

It is part of a deal he struck when he took over from co-founder Steve Jobs, BBC reported.

The award depended on how well Apple's shares performed compared to other firms on the S&P 500 stock index.

According to Apple's filing with the SEC, Cook was eligible for the award as the company's shares had risen by 191.83% over the last three years.

It also noted that Apple's share price has increased 1,200% since he became chief executive on 24 August 2011.