Tim Cook Is Not Apple’s Highest-Paid Executive
Apple’s top executives pulled in roughly $25 million in compensation last year, except for CEO Tim Cook.
Cook earned a $2 million base salary and collected a bonus worth about $8 million in 2015, according to the tech and retail giant’s proxy statement filed with the SEC on Wednesday.
Meanwhile, five other top execs at Apple (AAPL) got about $5 million each in salary, plus cash bonuses, to go with $20 million in stock awards. Those high-ranking Apple employees include CFO Luca Maestri and Internet services head Eddy Cue, as well as retail boss Angela Ahrendts (whom Apple wooed two years ago from her former gig as Burberry’s CEO with a truckload of cash).
Notably absent from the proxy statement’s compensation list was Jony Ive, Apple’s chief design officer, who ranks with Cook as one of the company’s most important employees.
Of course, as Bloomberg notes, Cook’s reported $10 million compensation doesn’t include 560,000 restricted stock units Apple gave him when he ascended to the CEO role in 2011 and which were earmarked for 2015. Those units were worth more than $64 million at the end of 2015.
And, for Cook, $10 million in salary and bonuses is actually a raise from the previous year, when he took home $9.2 million, which was double his 2013 pay package. (Cook is also sitting on hundreds of millions of dollars in unvested Apple stock, though.)