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12-27-2012, 09:01 AM #1
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 $1.42 million last year, which makes it clear to point out that the stock awards played a big role in his income.
12-27-2012, 09:50 AM #2
Still seems like a lot to me :S
12-27-2012, 10:21 AM #3
12-27-2012, 10:34 AM #4
He may be eligible for food stamps this year!!! Haaa!
12-27-2012, 12:42 PM #5
What, do you think these people are stupid? Didn't Steve Jobs or someöne else get only like 1$ as payment on their payroll for the year? Companies do this sort of thing as a tax loophole. The lower your salary, the less taxes you pay. Then they can just get a "company credit card" to spend on whatever they desire.
12-27-2012, 12:47 PM #6
It's good to be the king.
12-27-2012, 03:03 PM #7
A one time stock award is NOT salary.
12-27-2012, 07:28 PM #8
12-27-2012, 07:29 PM #9
That is what he filed in the U.S., Apple got lots of money outside U.S. and every rich person has an offshore account. Not saying that is what happened but I highly doubt Cook takes $4.17 million in 2012...
12-27-2012, 09:17 PM #10
12-28-2012, 09:17 AM #11
Misleading title is misleading.
It makes it sound as though even when you exclude stock awards his pay still went down 99%, which isn't true. Also, stock award compensation that will span over 10 years is not salary for one year.
the only thing newsworthy out of this is that Cook got a one-time huge stock award when he became the CEO, which is last year's news. So the whole article it pointless.
12-29-2012, 12:04 AM #12