California: Apple’s renowned CEO, Tim Cook, known for unveiling cutting-edge tech, earned $63.2 million last year, marking a significant drop from $99.4 million in 2022, as per an Apple proxy statement. This includes a $3 million base salary, $47 million in stock awards, $10.7 million in performance-based bonus awards, and additional compensation totaling $2.5 million.
Cook currently holds 3,280,053 shares of Apple stock and 1,291,086 Restricted Stock Units (RSUs). In the previous year, a compensation reduction decision was made by Cook, the board of directors, and shareholders, with a target award of $49 million, which was exceeded due to the company’s strong performance.
For personal safety, Apple allocated $820,309 to protect Tim Cook, and this year’s equity award target is $50 million, with 75% subject to performance-based vesting. Other top Apple executives like Luca Maestri, Kate Adams, Jeff Williams, and Deirdre O’Brien received approximately $27 million each in stock awards.
In 2017, Apple’s Board of Directors implemented a policy allowing Cook to use a private jet for personal and business travel, citing security and efficiency. Last year, $1,621,468 was spent on personal air travel, more than double the amount in 2022.
Additionally, Apple invested $820,309 in the personal safety of Tim Cook, covering fixed and direct costs. While Cook’s earnings saw a slight decrease, the proxy statement offers transparency into Apple’s operational and expense structures.
