Last year, Cook's total compensation was $99.4 million, including a $3 million salary, about $83 million in stock awards, and $13.4 million in other awards.
Apple Inc. Chief Executive Tim Cook is taking a substantial pay cut in 2023 — by about half, to $49 million — following investor criticism and a request by Cook himself.
“Taking into consideration Apple’s comparative size, scope and performance, the compensation committee also intends to position Mr. Cook’s annual target compensation between the 80th and 90th percentiles relative to our primary peer group for future years,” Apple AAPL said in a filing with the Securities and Exchange Commission on Thursday. Most of that pay will be in the form of stock grants, and his $3 million annual salary will remain the same.
“The Compensation Committee balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr. Cook to adjust his compensation in light of the feedback received,” the filing states.
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