Apple Board Modifies Tim Cook CEO Bonus Stock Award to Be More Performance Based

Apple's Board of Directors has elected to modify the award of restricted stock that Tim Cook's received after being promoted to CEO in August 2011. The modification, made at Cook's request, changes the award of 1,000,000 restricted stock units -- originally supposed to be awarded in two lump sums over 10 years -- to a more performance-based compensation system. A restricted stock unit, or RSU, is a form of compensation valued in terms of company stock, but the stock is not issued at the time of ...