Cook took home $3 million as base salary and $12 million as bonus. Apple paid $680,000 as "other compensation" to Cook, which includes private air travel expenses and security costs.
Cook took home $3 million as base salary and $12 million as bonus. Apple paid $680,000 as "other compensation" to Cook, which includes private air travel expenses and security costs.
Apple Inc hiked the salary of its chief executive Tim Cook by 22 per cent during the past year, resulting in his remuneration for 2018 reaching almost $15.7 million, a filing submitted to the US Securities and Exchange Commission showed.
According to the document, Cook took home $3 million as base salary and $12 million as bonus. Apple paid $680,000 as "other compensation" to Cook, which includes private air travel expenses and security costs.
This was the second year in a row that Cook saw a hefty rise in his pay cheque. The 58-year old received Rs 12.8 million as his annual compensation as the Apple CEO, whereas he was paid $8.7 million in 2016.
"The Compensation Committee determined that no downward adjustments to the payouts would be made based on Apple's 2018 performance and the individual contributions of our named executive officers and approved the maximum total payout at 400 percent of annual base salary," the Apple filing said.
Comment: RT adds that Cook makes nearly 300 times that of the average Apple employee and his stated salary does not even include other hefty stock incentives: Apple is one of the countries noted for having annual revenues that dwarf that of many countries, yet has been accused of mistreating and underpaying their employees, hiding money offshore, and not paying taxes.
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