In connection with Mr. Cook’s appointment as Chief Executive
Officer, 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 August 24, 2016 and August 24, 2021, subject to
Mr. Cook’s continued employment with Apple through each such date.
The message: Apple’s board is confident in Tim Cook, and Tim Cook is confident in Apple.