Tim Cook’s 2021 pay package swelled to $98.7 million

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Tim Cook’s 2021 pay package swelled to $98.7 million

A proxy assertion filed by Apple on Thursday revealed precisely how a lot one can earn after ten years of operating the world’s Most worthy and most worthwhile firm, and for Tim Cook dinner, that quantity is $98.7 million. Whereas his base wage stayed at $3 million, a further $12 million in incentives, $82 million price of inventory awards, and the cash spent to cowl objects like safety and personal flights — since 2017, Apple doesn’t let its CEO fly business — nudged your complete factor nearer to the $100 million mark.

Based on Apple, its whole shareholder return “was on the 97th percentile of the businesses that have been included within the S&P 500 for your complete efficiency interval” from 2018 to 2021.

Picture: Apple

That’s greater than six instances his 2020 pay of $14 million, and as famous by MacRumors, and doesn’t embody greater than $750 million in shares that vested this yr as the ultimate a part of a ten-year bundle Cook dinner obtained when he took over the corporate. The phrases of that bundle modified in 2013 when inventory efficiency slipped, which Apple says occurred at Cook dinner’s request, placing a number of the grant in danger if didn’t return sufficient cash to shareholders. And as we famous whereas recapping a decade of Apple underneath the management of Tim Cook dinner, everyone knows what occurred subsequent.

In August, once we wrote that decade recap, Apple was nonetheless approaching a $2.5 trillion market cap, and within the time since, it has crossed $3 trillion (irrespective of how briefly). It hasn’t all been completely happy instances, nevertheless. During the last couple of years, Apple workers have opened up like by no means earlier than about points with its inside tradition together with the push to return to the workplace and pay transparency, amongst many different issues.

A submitting like this, in fact, is clear by nature for Cook dinner in addition to different members of the board of administrators and govt staff. Apple notes in its personal doc that after placing collectively “base wage, bonuses, commissions, and grant date honest worth of fairness awards granted to workers in 2021 as our constantly utilized compensation measure” to seek out the pay of its median worker, they obtained $68,254, making a compensation ratio of 1,447 to 1.

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