Apple has filed a form 8-K (http://macte.ch/QBOyA) with the SEC because of the changes in corporate leadership at the company, notes “MacRumors” (http://www.macrumors.com). And it shows the confidence the company has in its new CEO.
The form tells investors of the resignation of Steve Jobs as CEO (though I’d be amazed if they didn’t already know since the rest of the world does); Jobs’ appointment as Chairman of the Apple Board of Directors; Tim Cook’s promotion to CEO; and the appointment of Cook to the board.
What’s more, 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 Aug. 24, 2016 ,and August 24, 2021, subject to Mr. Cook’s continued employment with Apple through each such date. This stock award is worth just over $383 million at current prices, notes MacRumors.”