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:
The proceeds do not include hefty stock incentives that the Cupertino-based company provides to its chief executive as part of a 2011 grant. In August, the CEO cashed in $121 million of vested stock. Cook still owns more than 1.5 million Apple shares worth about $189 million at the current share price.
The technology giant also revealed that the annual total compensation of a "median compensated employee" comprised $55,426. That means that of Apple's 132,000 employees, half make less than that, and half make more. According to the document, Cook's compensation without his restricted stock is 283 times the company's median worker earns.
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.
See also:
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.
See also: