Ear Hustle

Apple CEO Tim Cooks Made Over 4 Million This Year

TimCook

(AllThingsD.com) Another nugget of data from Apple’s latest shareholder proxy: CEO Tim Cook took home a compensation package valued at $4.25 million this year, little changed from the year prior.

In its annual proxy filing on Friday, Apple said Cook’s pay for fiscal 2013, which ended in September, consisted of $1.4 million in salary and a bonus of $2.8 million. In 2012, Cook’s compensation package was $4.2 million.

So Cook’s pay remained steady over those two years, with one noteworthy exception: He gave up about 7,123 Apple shares tied to the company’s annual performance.

Because of the decline in Apple’s stock this fiscal year the company’s board decided that only 72,877 shares out of a tranche of 80,000 should vest. Cook — who in June explicitly requested vesting terms tied to the company’s performance — forfeited the remainder.

Based on Apple’s closing stock price of $560.09 on Friday, those shares would have been worth nearly $4 million.

Click to comment

Leave a Reply

Most Popular

To Top