5 ms·
This seemed extremely bizarre to me until I read the filing itself[1]. The RSUs in question are unvested. Apparently a change was just made by the board that m
by nknight 14y ago
This seemed extremely bizarre to me until I read the filing itself[1].
The RSUs in question are unvested. Apparently a change was just made by the board that means unvested RSUs will collect dividends which will be paid out upon vesting. Cook is declining those.
I can kind of understand that it would look strange to make a change like this to already-granted RSUs, but if it were that big of a concern, it seems odd that only Cook would decline the dividends, or that the board would have made the change retroactive in the first place, so I still don't entirely understand declining them.
[1] http://www.sec.gov/Archives/edgar/data/320193/000118143112032458/rrd346000.htm http://www.sec.gov/Archives/edgar/data/320193/00011814311203...
- smackfu 14y agoDividends on unvested stock options kind of suck. You don't get the money, but the value of your stock goes down (in theory by the amount of the dividend).