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Tim Cook Passes on $75 million dividend

9 pointsby dmvaldmanalmost 13 years ago

3 comments

smackfualmost 13 years ago
That's... odd. Can anyone guess why he did this? Maybe tax reasons? He got a million shares for becoming CEO, so it's not like he's just into saving Apple money or anything.
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ryangilbertalmost 13 years ago
Apple really has some classy people representing their company. Well done.
nknightalmost 13 years ago
This seemed extremely bizarre to me until I read the filing itself[1].<p>The RSUs in question are unvested. Apparently a change was just made by the board that means unvested RSUs will collect dividends which will be paid out upon vesting. Cook is declining those.<p>I can kind of understand that it would look strange to make a change like this to already-granted RSUs, but if it were that big of a concern, it seems odd that only Cook would decline the dividends, or that the board would have made the change retroactive in the first place, so I still don't entirely understand declining them.<p>[1] <a href="http://www.sec.gov/Archives/edgar/data/320193/000118143112032458/rrd346000.htm" rel="nofollow">http://www.sec.gov/Archives/edgar/data/320193/00011814311203...</a>
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