A huge stock award enabled Apple CEO Tim Cook to raise $ 98.7 million in 2021

Tim Cook’s compensation package for 2021 is more than 6 times higher than the previous year.
Illustration: Ste Smith / Cult of Mac

It’s good to be CEO – Apple CEO Tim Cook was paid $ 98.7 million in 2021. It’s a combination of base salary, incentive plan and other compensations, but the lion’s share is in Apple shares.

Other top Apple executives also have eight-figure annual compensation packages, if not close to the Cooks.

Apple CEO Tim Cook certainly doesn’t want the money

In a submission to the U.S. Securities and Exchange Commission on Thursday, Apple wrote: “Our executive compensation program is designed to motivate and reward outstanding performance in a direct, consistent and efficient manner, commensurate with Apple’s size, performance and profitability.”

Cook’s base salary for 2021 was $ 3 million, the same as a few years ago. In addition, he received an annual cash incentive of $ 12 million. He earned this because Apple’s net sales revenue and operating income for the year were well above the goals set by the board of directors.

Other compensation was $ 1.4 million. This includes $ 630,630 spent on Cook’s insurance. And (ridiculously) $ 17,400 in 401 (k) company contributions.

But a large number come from stock awards, which totaled $ 83.3 million for Apple’s CEO in 2021. SEC documentation shows it didn’t receive stock awards in 2020 and 2019. But it’s not that simple: 2020. Cook has received a huge share of the stock option that will begin to be given in 2023.

Compensation for other Apple executives

Apple’s other top executives also received significant payouts in 2021 from salaries, bonuses and stocks. The SEC’s filing included compensation packages for COO Jeff Williams, head of human resources and Apple retail Deirdre O’Brien, CFO Luca Maestri and chief adviser and secretary Kate Adams.

And they all took almost exactly $ 27.0 million. The amounts for each person are not identical, but are round to be the same. All these were relatively small increases compared to the previous year.

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Naveen Kumar

Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.

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