Apple CEO Tim Cook's Pay Falls 26 Percent to $11.6 Million

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Apple CEO Tim Cook

A change in target payouts for all executives resulted in a drop in Cook's non-equity incentive pay.

Apple CEO Tim Cook's compensation dropped 26 percent to slightly under $11.6 million for the 2019 fiscal year. 

The executive, who has run Apple since his promotion in 2011, had the same base salary, $3 million, as in 2018 but his non-equity incentive pay dropped from $12 million in 2018 when he received 200 percent of his target payout, compared with $7.7 million in 2019 when he and other executives received 128 percent of the target bonus.

"In 2019, Apple’s performance exceeded the target performance goals for both net sales and operating income, resulting in a total payout of 128 percent of the target payout opportunity for each named executive officer," Apple wrote in the filing disclosing executive compensation. The company's stock grew by more than 88 percent in 2019.

Cook also received $884,000 in other compensation for 2019, including $457,000 in security services and $315,000 in the use of a private plane.

CFO Luca Maestri, general counsel Kate Adams and COO Jeff Williams all had 2019 pay of around $25.2 million. Angela Ahrendts, who was senior vp retail until April 2019, made a total of $22.3 million due largely to stock awards. Deirdre O'Brien, who in February was promoted to assume Ahrendts' duties as senior vp retail and people, had a total pay of $19.2 million.