January 6, Apple submitted its annual shareholders’ meeting notice and proxy statement to the Securities and Exchange Commission (SEC), and announced the compensation of its executives last year. Among them, Apple CEO Cook’s annual salary is 14 million US dollars.
Apple will hold its annual shareholders’ meeting online at 9:00 Pacific time on February 23 .
The agency statement said that Cook’s basic salary is $3 million and the performance reward is $10.731 million. In addition, Cook received “other compensation” of 1.0382 million US dollars, totaling about 14.7693 million US dollars.
Of these, “other compensation” includes $17,100 in 401(k) contributions, term life insurance payments, $115,385 for vacation cash-out, $470,246 for security and $432,564 for personal air travel (Apple, for security reasons, Cook uses private aircraft).
Cook’s compensation does not include stock incentives. In September 2020, Cook received restricted shares worth more than $100 million to ensure that he continued to serve as CEO of Apple until 2025. Cook also sold $131.7 million in Apple stock last August.
In 2019, Cook’s salary was 11.5 million U.S. dollars. According to Bloomberg, Cook’s net worth exceeded $1 billion in 2020.
Apple’s performance in 2020 exceeded its target in net revenue and operating profit, so Cook and other Apple executives reached 179% of total payout opportunities.
Other Apple executives, including Luca Maestri, Kate Adams, Deidre O’Brien and Jeff Williams Don’t get more than 26 million dollars in salary.
