“Apple Inc. CEO Tim Cook raked in a $12 million performance-based cash bonus in 2018, making up the bulk of the $15.6 million in total compensation he earned last year, the company said in a new filing,” Luke Stangel reports for The Silicon Valley Business Journal. “That’s about 22 percent higher than Cook’s pay the year before.”
“Outside of his bonus, Cook, 58, earned a $3 million base salary, unchanged from the year before, and got $682,000 in miscellaneous compensation, which included roughly $3,000 in term life insurance payments, a $16,500 contribution to Cook’s 401(k) retirement plan, $57,000 in vacation payouts, $294,000 in personal flights on private jets and $311,000 for Cook’s personal security detail,” Stangel reports. “Separately, Cook unlocked 560,000 Apple shares in August, as part of a performance-based vesting schedule he agreed to in 2013. Those shares are worth about $84.4 million as of the closing bell Tuesday.”
“Cook still has some 1.54 million unvested shares, currently worth about $232 million,” Stangel reports, “Apple’s four other named executives — CFO Luca Maestri, General Counsel Kate Adams, Senior Vice President of Retail Angela Ahrendts and COO Jeff Williams… [each] earned a $1 million base salary, about $21.5 million in stock, and a $4 million cash bonus.”
Read more in the full article here.
MacDailyNews Take: We doubt that $16,500 contribution to Cook’s 401(k) plan is going to cover the damage that he and his minions have wreaked upon it over the past couple of months, but it’s good to know he has a plan for his retirement. $650 million and counting can only go so far, ya know.