Apple CEO Tim Cook has taken a huge pay cut – based on his own recommendation. According to New regulatory filingFrom $84 million in 2022, to $49 million 2023. This is a decrease in value of more than 40%.
These changes are entirely due to an adjustment to Cook’s stock award value, which accounts for the bulk of Cooks total compensation. That value was $75 million in 2022. But it has fallen down to $40 million this year. His base salary of $3million and his annual cash incentive of $6million will remain the same. bloombergI reported a salary cut earlier on Thursday.
The compensation committee of Apple Board “balanced shareholder opinions, Apple’s exceptional performance, and a recommendation from Mr. Cook to adjust Cook’s pay in light the feedback received.” Cook’s compensation for 2023 could be different. According to the report Cook earned $99.4 million in 2022.
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