William Gallagher
Apple CEO Tim Cook took home $63.2 million for fiscal year 2023, dropping from $99.4 million the previous year, although it was at his own request.
In January 2023, Tim Cook asked that his overall compensation be reduced over 40%. It was following what Apple's Compensation Committee said was a Say on Pay advisory with "broader shareholder engagement on executive compensation in 2022."
Now Apple's latest filing with the Securities and Exchange Commission (SEC), as first spotted by The Hollywood Reporter, confirms that Cook received a $3 million base station, plus $47 million in stock awards. He also made $10.7 million from non-equity compensation, and $2.5 million in other compensation, reportedly chiefly security-related costs.
Cook's $3 million base salary is the same as it was for fiscal year 2022. But in that year he earned $83 million in stock awards, $12 million in non-equity compensation, and a mere $1.4 million in other compensation.
In 2021, Cook earned $98.7 million overall, and in that year he first said that he expects to leave Apple during the next decade.
Charles Martin
Christine McKee
Oliver Haslam
14 Comments
I am certain that Tim Cook is not queuing up for free handouts at his local church charity :D
Unlike most uber CEOs, he probably earned it. That being said, tax the rich like we did back in the good ol' 1950s.
I'd like to request that my pay be dropped to even lower than the other Tim. I could probably survive just fine on an even $50 million.
Good on Mr. Cook for taking less, but CEO pay is ridiculous and obscene. Our financial system has created a corrupt feedback loop that incentivizes corporate boards and corporate executives to ratchet up pay in a sick distortion of "competition" that overvalues the contributions of company executives. CEOs sit on each others' Boards of Directors and convince each other to offer more and more stratospheric compensation packages, lest some other company offer even more and steal them away. I mean, Tim Cook is clearly a great CEO. His company have been successful. But is he hit-the-lottery-every-year great? Is anyone?