Apple CEO Tim Cook's 2020 Compensation Rises to $14.8 Million

Apple CEO Tim Cook
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Apple CEO Tim Cook

The executive also had more than $281 million in Apple restricted stock units vest.

Apple CEO Tim Cook received compensation for the fiscal year ended in September 2020 worth nearly $15 million, up 28 percent from fiscal year 2019.

His $14.8 million pay package compared with $11.6 million in the prior year.

As has been the case in recent years, Cook also received a nine-figure windfall from vesting Apple stock. Cook received more than $281 million in newly-vested Apple stock. Cook's salary was $ 3 million, with $10.7 million in non-equity compensation and $1 million in other compensation, including air travel and security.

The Cupertino, Calif.-based technology giant disclosed pay details for its top executives in a regulatory filing Tuesday.

For the previous fiscal year, ended in September 2019, Cook had received a $3 million salary, a $7.7 million bonus and $884,466 in perks and other compensation. The Apple CEO also had $113.5 million worth of company stock vest that year.

Cook got most of his stock via an equity award in 2011 when he took over as CEO from co-founder Steve Jobs. In a note in the proxy filing, the Apple board noted that Cook received a new long-term equity grant, his first since that tranche a decade ago. The new grant, which was issued last September, could include as many as 1.7 million shares depending on company performance.

As of writing those shares would be worth more than $220 million. Apple also disclosed that going forward a portion of its senior executive cash compensation will be be awarded based in part on an "environmental, social, and governance modifier based on Apple Values and other key community initiatives."

Apple also made one other tweak to its compensation formula that will be of interest to Hollywood. The company said that Netflix would be added to its "primary peer group." Per Apple the primary peer group companies "consisting of U.S.-based, stand-alone, publicly traded companies in the technology, media, and internet services industries that, in the Compensation Committee’s view, compete with Apple for talent."