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Apple CEO Tim Cook passes on $75m dividend payments

Apple have said in a filing with the US Securities and Exchange Commission that CEO Tim Cook has asked to be excluded from a newly set up company program through which employees can gather dividends on their restricted stock units that are still vesting.

The Telegraph says that Apple have refused to offer a reason why.

Tim Cook replaced the late Steve Jobs as company CEO in August last year. He has 1.125 million outstanding restricted Apple shares that are vesting over the next 10 years. Apple said in March that shareholders would get a cash dividend of $2.65 per share.

In January the Apple board gave Cook 1 million restricted stock units for running the company while Jobs was out sick. Half of those units are vesting in 2016 and the remainder in 2021.

Kitguru says: Cook is already a very rich man.

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