According to GearRice , this information was confirmed by the US Securities and Exchange Commission, stating that the stock award for Tim Cook is determined based on the total profit brought to Apple shareholders compared to other S&P 500 companies in the period from the first day of fiscal year 2021 to the last day of fiscal year 2023 of Apple. According to the data, Apple ranked 141st out of 480 companies in the S&P 500.
$41 million just added to Tim Cook's account
A report said Tim Cook will receive one-third of the additional 73,000 restricted shares that vest on April 1 each year in 2026, 2027 and 2028. Despite being the CEO of the world's most valuable company, Tim Cook is not the highest-paid CEO compared to his peers in the industry.
In 2021, Mr. Cook received a salary of $3 million, a bonus of $12 million, and an additional $82 million in Apple stock. He also received benefits that year that included personal security and private jet expenses. In total, he earned nearly $100 million in 2021, although most of that was in Apple stock.
In early 2023, Tim Cook announced that he would take a 40% pay cut due to the company's disappointing financial results in the first three months of 2023. At the time, Cook said that the decision to accept a pay cut was to share the burden with the company and employees, and to show confidence in Apple's ability to overcome current difficulties while remaining a leader in the technology industry.
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