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Tim Cook’s 2021 pay package swelled to $98.7 million

A proxy statement filed by Apple on Thursday revealed precisely how a lot one can earn after ten years of operating the world’s most useful and most worthwhile firm, and for Tim Prepare dinner, that quantity is $98.7 million. Whereas his base wage stayed at $3 million, a further $12 million in incentives, $82 million value of inventory awards, and the cash spent to cowl gadgets like safety and personal flights — since 2017, Apple doesn’t let its CEO fly business — nudged the whole factor nearer to the $100 million mark.

Apple Cumulative total Shareholder Return 2011 to 2021

In accordance to Apple, its complete shareholder return “was on the 97th percentile of the businesses that had been included within the S&P 500 for the whole efficiency interval” from 2018 to 2021.

Picture: Apple

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That’s greater than six instances his 2020 pay of $14 million, and as famous by MacRumors, and doesn’t embrace greater than $750 million in shares that vested this yr as the ultimate a part of a ten-year package Prepare dinner acquired when he took over the corporate. The phrases of that package modified in 2013 when inventory efficiency slipped, which Apple says occurred at Cook’s request, placing among the grant in danger if didn’t return sufficient cash to shareholders. And as we famous whereas recapping a decade of Apple below the management of Tim Prepare dinner, everyone knows what occurred subsequent.

In August, after we wrote that decade recap, Apple was nonetheless approaching a $2.5 trillion market cap, and within the time since, it has crossed $3 trillion (regardless of how briefly). It hasn’t all been blissful instances, nevertheless. During the last couple of years, Apple workers have opened up like by no means earlier than about points with its inside tradition together with the push to return to the workplace and pay transparency, amongst many different issues.

A submitting like this, after all, is clear by nature for Prepare dinner in addition to different members of the board of administrators and government crew. Apple notes in its personal doc that after placing collectively “base wage, bonuses, commissions, and grant date honest worth of fairness awards granted to workers in 2021 as our persistently utilized compensation measure” to discover the pay of its median worker, they acquired $68,254, making a compensation ratio of 1,447 to 1.

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