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Apple CEO gives up $75 million in dividend income
SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook will not be earning dividend income on the more than 1 million shares to which he is entitled, which will cost him about $75 million.
Apple said in a filing with the U.S. Securities and Exchange Commission on Thursday that Cook had asked to be excluded from a recently instituted company program through which employees can accumulate dividends on their restricted stock units that are still vesting.
Asked why Cook was doing this, Apple declined to comment beyond the filing.
http://finance.yahoo.com/news/apple-ceo-gives-75-million-dividend-income-223631206--finance.html
1. what?
2. why?
3. this comment says much -- You know your rich when you voluntarily give up 75 million in income, and you wife does not murder you.
SAN FRANCISCO (Reuters) - Apple Inc Chief Executive Tim Cook will not be earning dividend income on the more than 1 million shares to which he is entitled, which will cost him about $75 million.
Apple said in a filing with the U.S. Securities and Exchange Commission on Thursday that Cook had asked to be excluded from a recently instituted company program through which employees can accumulate dividends on their restricted stock units that are still vesting.
Asked why Cook was doing this, Apple declined to comment beyond the filing.
http://finance.yahoo.com/news/apple-ceo-gives-75-million-dividend-income-223631206--finance.html
1. what?
2. why?
3. this comment says much -- You know your rich when you voluntarily give up 75 million in income, and you wife does not murder you.