Thus, within a year, the income of Apple's head decreased by $36 million. This data was revealed in a filing submitted to the U.S. Securities and Exchange Commission on January 11th.
Tim Cook's total compensation for fiscal year 2023 included a base salary of $3 million, stock options worth $47 million, performance-based bonuses totaling $10.7 million, and an additional $2.5 million to cover expenses such as retirement contributions, term life insurance premiums, vacations, security costs, and personal airline expenses.
The $36 million decrease was primarily due to a decline in the value of his stock awards. In 2022, the value of the stock awards he received was approximately $83 million. In 2021, his income was $98.7 million.
Other senior Apple executives – Luca Maestri, Kate Adams, Deirdre O'Brien, and Jeff Williams – each received $27 million in stock awards.
In the most recent quarter ending September 30, 2023, Apple recorded revenue of $89.5 billion and net profit of $23 billion. According to CEO Tim Cook, this was a record-breaking quarter for services revenue.
Also on January 11th, Apple announced that former Vice President Al Gore – who had been on the board since 2003 – would retire following the upcoming shareholder meeting. Another director, James Bell, also retired. Apple added Wanda Austin – former CEO of The Aerospace – as a new member of the board.
(According to Digital Trends, The Hollywood Reporter)
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