Apple CEO Tim Cook's Annual Pay Jumps 47 Percent to $12.8 Million
Higher non-equity incentive pay boosts his compensation well above the $8.7 million he had received for the previous year.
Apple CEO Tim Cook's compensation for the latest fiscal year rose 47 percent to $12.8 million from $8.7 million in the previous year.
Cook's pay package included a base salary of $3.1 million, along with $9.3 million in non-equity incentive pay, up from $5.4 million. It also includes $440,374 in "other" compensation, according to a regulatory filing.
"Apple was above its target performance goals for both net sales and operating income, resulting in a payout of each named executive officer’s annual cash incentive," the company's filing said.
Cook's "other" pay included $224,216 in security expenses and $93,109 for personal air travel. The company requires the CEO to use corporate flights for security reasons.
The company disclosed its pay for Cook and four other top executives with the highest pay. Eddy Cue, Apple's senior vp internet software and services, who was paid $22.8 million during the previous fiscal year, was not on that list.