“Apple spent $699,133 on personal security for chief executive Tim Cook in 2014, the first time the company has disclosed spending any such money to protect him,” Chris O’Brien reports for VentureBeat. “”
“The expenditure was included in Apple’s latest proxy filing yesterday, which reported that Cook’s total compensation for the year was $9.2 million. The security spending fell under the category of ‘other compensation,’ which for Cook rose to $774,176 in the fiscal year ending September 2014, up from $52,721 in 2013, and $17,274 in 2012,” O’Brien reports. “In a footnote to the ‘other’ category, Apple simply says the category includes ‘security expenses in the amount of $699,133.’ The company made no such disclosures in the past two years.”
“Such security arrangements are not unusual for executives across many industries, including tech,” O’Brien reports. “Oracle’s Larry Ellison, for instance, has long received substantial protection at home and when he travels, typically with bodyguards. Last year, Oracle paid $1,530,610 for his security.”
Read more in the full article here.
[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]