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Technology Stocks : Apple Inc.

AAPL 277.47

+0.2%

Nov 26 3:59 PM EST

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To: J R KARY who wrote (22810)	1/26/1999 11:07:00 PM
From: Eric Yang	Read Replies (1) of 213173

"OK Cook what gives ? distributing your shares like iMACs ? Seems Mr Cook does have some shares." Tim Cook, Senior VP Worldwide Operations joined Apple in Feb of 1998. He formerly held a position at Compaq. As I understand it, he is the one in charge of component procurement and has been credited for much of the improvements in Apple's inventory management, manufacturing and logistics. In addition to the annual salary of $400,000 and one time bonus of $500,000 he was granted 700,000 shares in stock option with exercise price of $17.685. As of today those options are unexercisable (He has been with Apple for less than a year) A sell back provision does guarantee that Cook will net at least $3 million by Feb 2000. Current market value of those shares if exercised is closer to $15 million so a "sell back" isn't likely to be required. Eric

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