Apple CEO Tim Cook Earned Over $11 Million in 2019, Not Counting Stock Awards
Apple CEO Tim Cook earned over $11 million in salary in 2019 according to the 2019 proxy statement Apple filed with the SEC today.
Cook earned a base salary of $3,000,000 in addition to $7.7 million in incentives awarded for performance. Cook also received another $884k in “other compensation” for a total of $11,555,466.
Other compensation includes life term insurance premiums, contributions to a 401k plan, vacation cash out (totaling $92,000), $457,083 in security expenses, and $315,311 for his personal use of private aircraft.
Cook earned more than $4 million less than the $15 million he earned in 2018. The salary listed here does not include stock awards that were received in 2019, with Cook earning over $113 million from shares that vested in 2019.
Most other Apple executives received a base salary of close to $1 million, along with stock and incentives of $20 to $25 million. Luca Maestri, Kate Adams, and Jeff Williams earned over $25 million.
Angela Ahrendts, who left the company early in the year, earned $22 million, while her replacement, Deirdre O’Brien, earned $19 million.
All Apple executives earned significantly more than the median salary at Apple, which was $57,596 because of the large number of retail and support employees that work for Apple. Cook earned 201 times more than the average employee compensation.
The full proxy statement from Apple includes additional salary details, proposals that will be voted on at Apple’s upcoming 2020 shareholders meeting set to be held on February 26, 2020.
Article Link: Apple CEO Tim Cook Earned Over $11 Million in 2019, Not Counting Stock Awards
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