Tim Cook’s Salary Drops 99% without Stock Awards
Apple CEO Tim Cook’s total compensation was revealed to be $4.17 million for 2012, a number which is down 99% from 2011 because of a lack of stock awards. His pay was revealed in a regulatory filing by Apple, which was first highlighted by Bloomberg
. The annual payment includes $1.36 million in base salary and $2.8 million in incentive plan compensation.
Last year, Tim Cook was awarded with $378 million, which made him the highest paid CEO in the U.S. Cook won’t end up seeing the majority of that money unless he stays at Apple for a decade though, since almost all of it, $376.2 million, comes from a one-time stock award. Without the stock award, Cook’s salary perks and bonuses for the 12-month span of 2011 amounted to $1.8 million with his annual salary for the previous year adding up to $900,000.
This year, Cook oversaw the launch of the iPhone 5, which was the most successful product debut in Apple’s history in terms of sales. Other major products introduced in 2012 included the third-generation and fourth generation iPad, the iPad mini, a revamped iPod lineup, and new Macs. To give you a better comparison of Cook’s salary compared to other employees, Apple’s Chief Financial Officer, Peter Oppenheimer, earned a total of $68.2 million in 2012, an increase which was driven mainly by stock awards as well, which accounted for $66.2 million. He ended up earning a total of $1.42 million last year, which makes it clear to point out that the stock awards played a big role in his income.