“Apple Inc. Chief Executive Officer Tim Cook received compensation valued at $9.22 million last year, more than double from his pay in 2013, as optimism for new products pushed the iPhone maker’s stock to a record,” Tim Higgins reports for Bloomberg. “Cook’s package includes salary of $1.75 million and $6.7 million in non-equity incentive compensation for the fiscal year that ended in September, the Cupertino, California-based company said today in a filing with the U.S. Securities and Exchange Commission. Cook was granted a pay package valued at $4.25 million in 2013.”
“The company’s stock rose as high as $119.75 in November, sending its market capitalization to more than $700 billion, a milestone that no other U.S. company has reached,” Higgins reports. “Cook also rolled out a mobile-payment system called Apple Pay, and this year will debut the company’s first smartwatch.”
“Cook, who joined Apple in 1998, was named CEO in August 2011 to succeed co-founder Steve Jobs, who died later that year,” Higgins reports. “Cook received compensation in 2011 of $378 million, one of the biggest pay packages on record, boosted by $376.2 million in stock awards that he’ll get over a decade.”
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MacDailyNews Take: Cook is worth every penny and then some.