Apple wins lawsuit over overpaying CEO Tim Cook

Manhattan District Judge Jennifer Rochon said the iPhone maker disclosed pay in its 2023 proxy statement "precisely" as required by securities law and US Securities and Exchange Commission regulations.

Apple CEO Tim Cook. Photo: Reuters

Judge Rochon also found no evidence that Apple's board of directors acted improperly in paying the plaintiffs.

The plaintiffs say Apple awarded $92.7 million and $94 million in performance-based restricted stock to Tim Cook and four other executives in 2021 and 2022, respectively, even though its compensation committee intended to award only $77.5 million each year.

Earlier on February 6, Apple persuaded a federal judge to dismiss a lawsuit by a Silicon Valley startup accusing it of illegally monopolizing the US market for heart rate monitoring apps for its Apple Watch.

Mai Anh (according to Reuters, PA)

Source: https://www.congluan.vn/apple-thang-vu-kien-tra-luong-qua-cao-cho-ceo-tim-cook-post284018.html