AppleInsider Staff
Executive salaries are among the tastier tidbits in Apple's annual proxy statement, and this year's filing revealed CEO Tim Cook to have received $10.3M in cash and stock for 2015, while SVP of retail Angela Ahrendts was paid $25.8 million.
Cook's compensation is actually up from 2014, when the Apple chief was paid $9.2 million in salary and stock incentives. For 2015, Cook's salary was bumped to $2 million, according to Apple's 2016 proxy statement.
In addition to his yearly wages, Cook currently owns $57.7 million in stock and restricted stock units currently worth about $479 million. The performance-based RSUs are set to vest in incremental installments from August 2015 to August 2021.
Ahrendts led all reporting Apple executives with a $1 million base salary, $20 million in stock, $4 million stock incentive and relocation expenses in the amount of $474,981, among other considerations. The final tally is down from Ahrendts' massive 2014 compensation of $73.4 million, paid out to woo her away from Burberry.
Apple's other reporting execs each earned $1 million in base salary and $20 million in stock awards. CFO Luca Maestri took home $25.3 million, SVP of Internet Software and Services Eddy Cue netted$25.1 million, while SVP of Hardware Engineering Dan Riccio and General Counsel Bruce Sewell were paid an identical $25 million.
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55 Comments
And I lost money on AAPL. :( /s
Well so much for the "glass ceiling" at Apple. And she definitely earned her keep in 2015. Those in store product launches were an awesome spectacle to behold!
As I said in another thread, I noticed in the proxy statement Jony Ive's promotion still doesn't require him to be a named officer of the company or have his salary reported. He's never had to publicly report his salary. I's be curious to know how Apple gets around that. Even if he has very few if any direct reports there's no way Apple can claim his position doesn't have a material impact on the company.
Edit: interesting too that Jeff Williams as COO isn't on this list. When Steve Jobs was CEO Tim Cook's salary was reported every year. Also looking back at previous proxy statements the only named executive officer that hasn't had salary info reported is Craig Federighi. I find that a bit interesting considering he's the top software guy at Apple. Honestly I'd take Craig over Eddy Cue any day of the week. IMO Cue is the weakest link on the executive team.