Apple Boosts Pay of CEO Tim Cook, Other Executives

Apple Boosts Pay of CEO Tim Cook, Other Executives

Cook's real wealth comes from his stock options.

Apple's CEO also has about 2.9 million more unvested shares, worth more than $450 million, according to the SEC filing.

The company rebounded in the latest fiscal year as it sold 216.7 million iPhones, up from 211.88 million in 2016, though still below the peak of 231.22 million iPhones sold in 2015. That's because Apple had fallen short of its financial goals, amid slumping iPhone sales and a downturn in the Cupertino-based company's Chinese business operations.

This year, Apple saw a major rebound across almost all of its categories. "Apple exited the quarter with some iPhone 8 inventory due to softer than expected demand compared to the iPhone 7 series", Counterpoint said. "As we approach our holiday season, we expect it to be our biggest quarter ever". Cook's cash bonus was the largest among the six senior Apple executives.

The personal travel cost for Cook was $93,109 in 2017, which is part of his compensation package. They will receive around $24.2 million each. Again. That's why Tim Cook and other Apple execs received appropriate compensation.

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The filing noted that the value of the private flights is calculated as "imputed taxable income" which is not reimbursed by Apple. In addition to this is the personal security cost which can be rounded off to around $224,216.

In a proxy statement filed with the US Securities and Exchange Commission, Apple said Mr Cook earned just over $3m (£2.2m) in salary, plus $9.3m (£6.9m) in bonuses. Apple's other top executives also saw raises, each to the tune of roughly $1.3 million.

Apart from Cook, other top executives did receive a pay raise as well.

Shareholders who feels like attending the shareholders meeting that will take place in the Apple Park, at Steve Jobs Theatre, requires registering themselves using the Proxyvote.com beginning at 8:00 am on 22 January, 2018.

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