Apple paid Tim Cook almost $100m last year

Elvera Bartels

Tim Prepare dinner, the Apple manager, was paid out close to $100m (£74m) final 12 months, a huge enhance on the preceding 12 months, as the Apple iphone maker rocketed in the direction of a $3 trillion valuation.

His complete pay back for the 12 months to September 25 was $98.7m, up from $fourteen.7m, the Silicon Valley giant discovered in a US submitting.

The rise was mainly down to an $82m share award Mr Prepare dinner acquired less than a shake-up of his pay back scheme.

Apple said the sum was a reflection of the company’s achievements less than his management: “The total recognises his exceptional management and is commensurate with the size, efficiency, and profitability Apple has achieved throughout his tenure.”

Mr Prepare dinner celebrated a 10 years functioning Apple final 12 months and the enterprise adjusted how he was paid out after the expiry of a 10-12 months package deal awarded when he succeeded Steve Positions.

The greater part of Mr Cook’s compensation around the previous 10 years has been less than his 2011 pay back package deal, which involved him getting tranches of shares around the study course of the next 10 years.

He just lately cashed in all those shares for $750m, a sum inflated by Apple’s extraordinary share selling price rise less than his management.

His $98.7m pay back package deal final 12 months, by contrast, covered 2021 alone. He was paid out a $3m wage and the relaxation in dollars incentives and gains. The enterprise invested $712,488 on private flights, owning deemed it a safety risk for him to fly commercially in 2017.

Apple’s shares rose by 1,174pc around Mr Cook’s initial 10 years in cost, when compared to 363pc for the S&P five hundred.

The inventory has due to the fact risen even additional and, earlier this 7 days, Apple grew to become the initial enterprise to cross a $3 trillion marketplace capitalisation.

Speculation about Apple’s succession organizing has intensified as Mr Prepare dinner, 61, achieved 10 yrs in cost.

He said final 12 months that he did not consider functioning the enterprise for one more 10 years, but that there was not a day in sight for his departure.

His most very likely successor is thought to be Apple’s main functioning officer Jeff Williams, who occupies the job Mr Prepare dinner crammed less than Mr Positions.

Apple said Mr Cook’s pay back was 1,447 periods that of the median Apple worker, paid out $68,254. Most of its staff members are in its retail retailers.

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