“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.
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Apple CEO Tim Cook paid close to $102 million for fiscal 2017 – December 28, 2017
