$383m: The cost of wooing Apple's new CEO to stay 10 years
How much of a carrot would you need to make you stay in your current job?
That's clearly the question the Apple board have been asking this week when it comes to making sure the company's new CEO, Tim Cook, stays in the role and doesn't jump ship.
According to an SEC filing in the US, Apple has given Cook 500,000 restricted shares if he stays with Apple for the next 5 years and a further 500,000 shares if he says another 5 years after that ensuring that if all goes to plan he will be the Apple CEO until 2021.
"In connection with Mr. Cook's appointment as Chief Executive Officer, the Board awarded Mr. Cook 1,000,000 restricted stock units. Fifty percent of the restricted stock units are scheduled to vest on each of August 24, 2016 and August 24, 2021, subject to Mr. Cook's continued employment with Apple through each such date," reads the filing.
Reports suggest that Cook is on around $800,000 a year already, making the shares probably more than enough to convince him into staying with Apple.
If Cook were able to cash those shares in today they would he worth over $383m.
Of course if he leaves the company it appears that he gets nothing.
That's one mighty big carrot.