Online Broadband Guide
Online Broadband Guide


Apple CEO Tim Cook's Annual Pay Jumps 47% to $12.8 Million

Apple CEO Tim Cook's Annual Pay Jumps 47% to $12.8 Million

On top of that, the iPhone now forces Tim Cook to use private jets for all flights, whether they're business or personal, rather than take commercial flights.

Cook's incentive pay totaled $9.33 million for the year ended September 30, the Cupertino, California-based company said Wednesday in a regulatory filing.

Executive officers at Apple, including Luca Maestri, Angela Ahrendts, Johny Srouji, Dan Riccio, and Bruce Sewell, all received bonuses of over $3 million, which brought their compensation, including salary and stock awards, to approximately $24.2 million each, provided they continued with the company long enough for awarded stock to vest.

For Apple CEO Tim Cook, Santa Claus came this Christmas season to drop down his chimney a 46 percent pay raise and the use of a private aircraft. The equity compensation is composed of shares that vest exclusively based on the executives' continued employment and others tied to the performance of Apple's stock compared with other S&P 500 companies.

This year, Apple saw a major rebound across almost all of its categories. All told, Cook made $12,825,066 at Apple in 2017 - including a $16,200 contribution to Cook's 401 (k) retirement account from the company.

Apple introduced the iPhone X late this year, its most expensive smartphone since the iPhone 6.

Cook's pay raise this year came mostly from cash bonuses; $9.3 million were added to Cook's $3 million annual salary.

Cook's 2017 pay package included $440,000 in "other compensation". Cook owns 560,000 shares awarded to him in 2011 and vested in fiscal 2017 year which was valued at $89.2 million. Personal security costs were calculated at $224,216. In light of his high profile and the security costs, the Apple board suggested that he use private transportation in 2018.

In the filing, the board also submitted the slate of eight nominees for reelection: Cook, Disney CEO Bob Iger, Al Gore, James Bell, Andrea Jung, Art Levinson, Ron Sugar, and Sue Wagner.

follow

editors' picks

December 29, 2017
Claire's Pulls Makeup Kits from Shelves Due to Asbestos Concerns
A mother in America has discovered that a makeup kit from Claire's that was given to her six-year-old daughter contained asbestos. When she received the results, Warner, who works for a Providence, Rhode Island law firm, said she was appalled.

December 29, 2017
Bitcoin Price Drops as South Korea Says Exchange Closures Are Possible
Only those with verified accounts, confirming their age and residential status, will be permitted to trade digital currencies.

December 27, 2017
South Korea creates North Korea nuclear monitoring team
Tension has been rising over North Korea's nuclear and missile programmes, which it pursues in defiance of years of U.N. Security Council resolutions, with bellicose rhetoric coming from both Pyongyang and the White House.

December 26, 2017
Four dead after bus ploughs into pedestrian underpass in Moscow
Footage shows people scattering as the bus ran down wide steps before being brought to a halt by the tunnel's roof. The driver of the bus had been detained by police, agencies said, after he lost control of the vehicle.

December 25, 2017
Suspected cholera cases reach one million in Yemen
The number of suspected cholera cases in Yemen has reached one million , the International Committee of the Red Cross (ICRC) says. Saudi Arabia said on Wednesday it would allow the Houthi-controlled port of Hodeidah, vital for aid, to stay open for a month.

December 23, 2017
Pep Guardiola conducts the Manchester City fans' chant
City coach Mikel Arteta suffered a cut to his forehead in the melee which required four butterfly stitches. Speaking after the defeat, he said: "They were a bit lucky but fought a lot to be lucky".

December 20, 2017
NYC fire kills mother and 3 children, ages 11, 7 and 3
A mother and three of her young children were killed early on Monday morning when a fire broke out in their apartment. As a parent, it's impossible for me to imagine what this family is going through right now.

December 19, 2017
Facebook to demote posts that 'bait' for shares, likes
In a post , Facebook representatives explain that "engagement bait" goes against "one of our key News Feed values-authenticity". Starting this week, Facebook says it will begin demoting pages that use the "spammy" tactic.

December 19, 2017
General Motors Releases 2019 Chevrolet Silverado Pick-Up Truck
As far as styling is concerned, make no mistake about it: The new Silverado Trail Boss is stacked, stylish, and slender. Silverado is General Motors' best-selling model and routinely the second best-selling vehicle in the United States.

December 19, 2017
Valverde: Clasico Will Not Decide La Liga
However, he was forced off after just 20 minutes of the game gone at Camp Nou with a muscle injury and replaced by Aleix Vidal. We also can promote someone from the second team. "But we're going into [the Clasico ] happy".