Apple CEO Tim Cook received $98,734,394 in total compensation for 2021, according to the company's Definitive Proxy Statement filed with the SEC.
Cook was granted an equity award for the first time last year after ten years of leading Apple...
In 2021, we also marked the tenth anniversary of Tim Cook’s leadership as CEO. It has been a remarkable decade for Apple, and in 2021 Mr. Cook was granted an equity award for the first time since he was promoted to the CEO role in 2011. As discussed in more detail below, the 2021 RSU award granted to Mr. Cook is better aligned with the performance-based and time-based RSUs awarded to our other named executive officers and provides substantial equity incentives aligned with the interests of our shareholders.
Cook's compensation included a $3,000,000 salary, $82,347,835 in stock awards, $12,000,000 in non-equity incentive plan compensation, and $1,386,559 in other compensation.
Apple breaks down other compensation as follows...
This amount represents:
(i) Apple’s contributions to Mr. Cook’s account under the 401(k) plan in the amount of $17,400;
(ii) term life insurance premiums paid by Apple in the amount of $2,964;
(iii) vacation cash-out in the amount of $23,077;
(iv) security expenses in the amount of $630,630, which represents the incremental cost to Apple for personal security services provided to Mr. Cook as determined by allocating both direct costs and a percentage of fixed costs incurred by Apple and used to provide such personal security services; and
(v) personal air travel expenses in the amount of $712,488, which represent the incremental cost to Apple for Mr. Cook’s personal use of private aircraft based on hourly flight charges and other variable costs incurred by Apple for such use, including variable fuel charges, departure fees, and landing fees. For security and efficiency reasons, the Board implemented a policy in 2017 that requires Mr. Cook to use private aircraft for all business and personal travel.
You can read the full SEC filing at the link below...
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Cook was granted an equity award for the first time last year after ten years of leading Apple...
In 2021, we also marked the tenth anniversary of Tim Cook’s leadership as CEO. It has been a remarkable decade for Apple, and in 2021 Mr. Cook was granted an equity award for the first time since he was promoted to the CEO role in 2011. As discussed in more detail below, the 2021 RSU award granted to Mr. Cook is better aligned with the performance-based and time-based RSUs awarded to our other named executive officers and provides substantial equity incentives aligned with the interests of our shareholders.
Cook's compensation included a $3,000,000 salary, $82,347,835 in stock awards, $12,000,000 in non-equity incentive plan compensation, and $1,386,559 in other compensation.
Apple breaks down other compensation as follows...
This amount represents:
(i) Apple’s contributions to Mr. Cook’s account under the 401(k) plan in the amount of $17,400;
(ii) term life insurance premiums paid by Apple in the amount of $2,964;
(iii) vacation cash-out in the amount of $23,077;
(iv) security expenses in the amount of $630,630, which represents the incremental cost to Apple for personal security services provided to Mr. Cook as determined by allocating both direct costs and a percentage of fixed costs incurred by Apple and used to provide such personal security services; and
(v) personal air travel expenses in the amount of $712,488, which represent the incremental cost to Apple for Mr. Cook’s personal use of private aircraft based on hourly flight charges and other variable costs incurred by Apple for such use, including variable fuel charges, departure fees, and landing fees. For security and efficiency reasons, the Board implemented a policy in 2017 that requires Mr. Cook to use private aircraft for all business and personal travel.
You can read the full SEC filing at the link below...
Read More