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By Sheetal Sukhija | Friday December 29, 2017
Apple CEO Tim Cook pockets $102 million in pay this year
In a regulatory filing, Apple published the details of the payments made this year to its top earners, revealing that the company’s CEO, Tim Cook pocketed a whopping $102 million in 2017. The iPhone maker’s chief executive, Tim Cook - who was awarded a stock package originally valued at $376 million when he became chief executive in 2011 - took home $102 million this year including bonuses worth $98 million. Apple disclosed in a regulatory filing that Cook was paid a basic salary of $3.06 million, a cash bonus of $9.3 million (up from $5.4 million last year), and collected share awards worth $89 million taking his total 2017 payout to $102 million. According to the filing, the bonus of 560,000 shares was paid out in September. It also noted that Cook received half the award because Apple’s stock delivered shareholder returns in the top third of the Standard & Poor’s 500 index during the past three years. He got the other 280,000 shares for simply staying in the job. Since he signed on to become CEO, Apple shares have increased six-fold and as long as he remains the boss, Cook will receive 560,000 shares of stock annually until 2020...Read more