Apple CEO Tim Cook earned $ 98.7 million in base salary, stock and other compensation, according to a statement Apple filed with the United States Securities and Exchange Commission.
The statement revealed how much could be earned after ten years of running the most valuable and profitable company in the world.
While his base salary remained at $ 3 million, he received an additional $ 12 million in incentives in compensation for non-equity incentive plans, $ 82 million in awards in shares and $ 1,386,559 in other fees.
Other compensation includes $ 23,000 for vacation, $ 630,630 for security expenses, and $ 712,488 for personal air travel.
Apple hasn’t allowed its CEO to use commercial aviation since 2017. The company asks Cook to use a private jet for safety reasons.
Combining Cook’s salary package with the money the company spent to cover things like safety and private flights, the figure is close to $ 100 million.
That’s more than six times his 2020 salary of $ 14 million. In 2020, Cook earned a total of $ 14.8 million, not counting the awards in shares awarded during that time period.
Cook’s net worth has jumped to over $ 1 billion since 2020. It may soon surpass that in based on its recent awards in actions.
This new figure does not include more than $ 750 million in shares that have been allotted questyear as the final part of the 10-year package Cook received when he took over the company, according to the Arab portal for technical news.
The terms of that package changed in 2013 when the performance of the title has decreased. The change came at Cook’s behest, putting part of the grant at risk if it did not return sufficient funds to shareholders.
As of August, Apple was still close to $ 2.5 trillion in market capitalization. The company also crossed the $ 3 trillion mark (regardless of the short period of time).
However, not all times have been happy. Over the past couple of years, Apple employees have been as open as ever to issues relating to their internal culture. Including pressures to return in office and promoting transparency, among other things.
Such a file would be transparent in nature for Tim Cook, as well as for other members of the board of directors and the team executive.
Other company executives such as Luca Maestri, Kate Adams, Jeff Williams and Deirdre O’Brien have received salaries ranging from $ 26 million to $ 27 million.
Apple notes in its document that after filling out the base salary, i bonus, fees and a fair value on the grant date of bonus shares awarded to employees in 2021 as an applied compensation measure in consistent way to find the average salary of their employees, they earned $ 68,254.
This means that the company’s chief executive officer pay ratio is now 1,447 to 1 compared to pay media of employees.
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