Apple said in its annual proxy filing on Tuesday that it will modify executive cash bonuses based on progress toward the company’s social, environmental, and other “Apple Values.”
Apple Values reflect our commitment to leave the world better than we found it and to create powerful tools for others to do the same. — Apple Inc.
…2021 executive compensation program will reflect the following changes:
• 2021 Annual Cash Incentive: Beginning in 2021, an environmental, social, and governance modifier based on Apple Values and other key community initiatives will be incorporated into our annual cash incentive program. This change will further motivate Apple’s executive team to meet exceptionally high standards of values-driven leadership in addition to delivering strong financial results.
• CEO Compensation: For the first time since he was promoted to the CEO role in 2011, Mr. Cook’s 2021 compensation will include a long-term equity award. This award will better align the structure of his time-based and performance-based equity incentives with the awards of our other named executive officers.
We believe that business, at its best, serves the public good, empowers people around the world, and binds us together as never before. — Apple CEO Tim Cook