In a rather masterful move in both investor and employee relations, Apple’s CEO forgoes a rather juicy $75 million dollars in dividends which he is entitled to.
From Apple’s 8-K:
“At Mr. Cook’s request, none of his restricted stock units will participate in dividend equivalents. Assuming a quarterly dividend of $2.65 per share over the vesting periods of his 1.125 million outstanding restricted stock units, Mr. Cook will forego approximately $75 million in dividend equivalent value.”
Mr Cook’s finances aren’t exactly going to be in a shabby state of affairs, but his decline of the payout shows that he is clearly the right man for the job, and his focus is on much more than personal wealth.