In It for the Long Haul

Apple, in its SEC filing detailing this week’s changes in corporate leadership:

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.

★ Friday, 26 August 2011