“Apple CEO Tim Cook pulled in $102 million in total compensation in 2017, considerably better than his pay in 2016, the company said in a regulatory filing this week,” Luke Stangel reports for Silicon Valley Business Journal.
“Cook’s base salary remained unchanged at $3 million per year, while he saw his cash bonus jump more than 73 percent, to $9.3 million. The company paid out an additional $440,000 in other compensation, with Cook pulling in a total of $12.8 million in cash or equivalents,” Stangel reports. “Crucially, Cook vested 560,000 shares of Apple stock in late September, which was worth about $89 million at the time. Apple’s stock has gained another 10 percent since September, making those freshly vested shares worth about $95 million today.”
“This year, the company decided Cook had become so recognizable outside of Silicon Valley that he would be forced to fly on private jets for all business and personal travel going forward,” Stangel reports. “‘This policy was implemented in 2017 in the interests of security and efficiency based on our global profile and the highly visible nature of Mr. Cook’s role as CEO,’ Apple said [in the filing].”
Read more in the full article here.
MacDailyNews Take: Makes perfect sense to require Cook to fly private. We’re only surprised it didn’t happen sooner.
SEE ALSO:
Apple CEO Tim Cook paid close to $102 million for fiscal 2017 – December 28, 2017
I always assumed he would already.
Tim Cook – man of the people. Yeah, right.
now he can travel more incognito to some of his favorite beach spots. Clue: he likes Mexican beer.
Buy the man a Gulfstream already!
I think the message is Tim Cook is losing his perks as CEO. In summary, Tim Cook is losing it. Bye, bye, Tim.
Isn’t private plane travel less safe than commercial? Private jets go down all the time. Where is the danger in Tim Cook flying First Class on a commercial airline, anyway?
You are assuming that the only danger in air travel is within the aircraft itself. Imagine if Tim Cook were at LAX and he was recognized while going through security.
And what would happen, Sparkles, if Tim was recognized at the airport with his bodyguards?
airports like LAX have all sorts of escort programs and private lounges to handle high profile customers.
We do not want Tim to get involved with these “escort” services and “private” clubs.
We do not want Tim to be involved with “escort services” or “private clubs”. xD
Private flights performed at airline standards (which would be likely in a Gulfstream) are quite safe.
I can’t wait for this hypocrite to start lecturing us on “saving the planet”, “climate change is real!” BULLCRAP.
Go ahead all you fanatical lemmings of this charlatan, vote me down! You all have the gene of liberalism, a cancer of humanity! BLAH! Merry New Year and BUG-OFF!
You haven’t taken your happy pill yet, have you?
NO!!! BUG-OFF! GO FRY ASPARAGUS!!!
lol
Weak trolling little guy. Very weak. Truly a disgrace.
If I had the money Tim Cook has I would never fly commercial again. Nothing like being treated like a criminal and herded like cattle before being flown and then getting the same at the other end.
Flying used to be a great experience.
“Nothing like being treated like a criminal and herded like cattle before being flown and then getting the same at the other end.
Flying used to be a great experience.”
“Flying used to be a great experience.”? When, out of curiosity, was that?!?
That stopped in the early 90’s.
Flying before deregulation and Airports after 9-11.
It cost more, but was a completely different experience.
Your family/friends could accompany you right up to the boarding gate and watch your takeoff. The service was top notch and very professional. The planes were not crowded and you were not charged for what are now “extras”. The food actually tasted like food and was served on China. Your knees were not banging up against the seat ahead of you.
There were also direct flights from many cities now saddled with hub connections, so layover hell was largely an unknown. The hub and spoke system came along with deregulation for the most part.
Yes, I remember when you could check bags for free. Then I remember when they started allowing you to bring on small suitcases as carry-ons, and if you packed small enough, you could get away without having to check anything. Of course then _everyone_ wanted to do it, and so they ran out of room in the overhead compartments. This was also back when they boarded from the back of the plane, so at least you could request a seat further back and be assured that you could get your carry-on in. Now they board by “zones,” (presumably meaning that the more you pay, the lower your zone number is) so you still have to worry if there will be enough space by the time they get to you.
Anybody else remember the Macdaily endless braying about how shitty Tim Cook was and how he needs to be replaced ASAP… what a failure he’d be, how utterly incapable he was of steering apple.? Pepperidge farm remembers.
And look at where we are now.
Where we are is in big trouble. Apple is plainly neglecting the mac, and has been caught slowing down iPhones. While they are still making money, they are cannibalizing the goodwill of their customers at an alarming rate. I myself am seriously considering buying my first windows machine, because MacOS has deteriorated to such an extent.
👋See ya!
Yes, both the Mac and the iOS brands are suffering some serious problems right now. Still, we survived Gil Amelio, and we will survive Tim Cook.
As I remember, Steve Jobs had a Boeing Business Jet at his entire disposition whenever he wants. What happened to the plane?
As being treated as criminal, I remember an embarrassing moment SJ had at Japan Airport because he was carrying some ninja disks somebody give to him. He thought he could put anything in his own plane.
He had a Gulfstream G-V
Can’t think of anything to comment so I’m just going to post a pancake recipe.
1 1/2 cups milk
1 egg
2 teaspoons vanilla extract
2 cups White Wings self-raising flour
1/4 teaspoon bicarbonate of soda
1/3 cup caster sugar
25g butter, melted
Whisk milk, egg and vanilla together in a jug. Sift flour and bicarbonate of soda into a bowl. Stir in sugar. Make a well in centre. Add milk mixture. Whisk until just combined.
I’m going to try out this pancake recipe, and if it doesn’t taste amazing, you’re in big trouble!
Pathetic and desperate much?
Will Pipeline Timmy miss the TSA patdowns?
“Because he’s worth it”
private jets for CEOs earning $100m a year is exactly what the Rust Belt voters voted for
Another liberal who only pays lip service to global warming.
They have to fly anyway. Private jets can use biofuel jet fuel.
He should fly using fuel produced from industrial hemp. That would solidify his support among liberals. 😉
Wasn’t Steve Jobs compensated in salary by having a private company jet that fly around to different events, etc?
Apple Inc doesn’t have a Jony Ive designed private al-you-min-eeeum Lear Jet?
Cook is big on sustainability and saving the world from bad weather… Wonder if he’s going to refuse flying on private jets?
Good grief, they reward Tim for screwing up the company. Imagines if Apple had a CEO who didn’t neglect most of the product lines for years, how much would the stock be worth then?