Apple spent nearly $ 100 million on CEO Tim Cook in 2021. In addition to a base salary of $ 3 million, the Apple boss received a further $ 12 million as part of a bonus plan, as well as the last part of a special share package, which was worth a good $ 82 million at the time it was awarded. This emerges from a filing of the group with the US Securities and Exchange Commission (SEC). Other payments of nearly $ 1.4 million include personal protection and Cook’s use of private jets.
Big blocks of shares for Cook
When Tim Cook took over from Steve Jobs in 2011, the new CEO received, among other things, a long-term share package of around one million shares, which was invested until 2021. As planned, Cook received the last large part of it with over 500,000 stock options (restricted stock units) last year.
In 2021, Cook already received an Apple share allocation worth around 750 million US dollars; these restricted stock units had been granted in previous years and are therefore not included in Cook’s compensation for 2021 – they are also part of the original 10-year package of the CEO. Cook has the next huge stake in the house if he continues to lead Apple: He can receive up to around one million Apple shares by 2025 if certain performance targets are met.
Average salary at Apple
In 2021, Apple also awarded large blocks of shares worth nearly $ 22 million each to other top managers, including the CFO, COO and HR director. The average remuneration of an Apple employee in the past fiscal year was a good 68,000 US dollars. In addition to developers and engineers, the group also employs tens of thousands of people in its retail division. The CEO remuneration is thus in a ratio of 1447: 1, Apple lists in the submission.
(lbe)