Apple CEO Tim Cook dinner’s whole compensation was $99.4 million in 2022, in line with the corporate’s proxy assertion launched right now. His compensation included a $3 million wage, roughly $83 million in inventory awards, and $13.4 million in different types of compensation. Cook dinner’s whole compensation in 2021 was $98.7 million.
Cook dinner shall be taking a considerable pay minimize in 2023, as famous by Bloomberg‘s Mark Gurman. Based mostly on shareholder suggestions and Cook dinner’s advice to regulate his compensation in gentle of the suggestions, the submitting signifies that his goal compensation for 2023 shall be $49 million, which is over 40% lower than his goal compensation in 2022.
Regardless of the pay minimize, Apple’s Compensation Committee mentioned the corporate had “distinctive efficiency” in 2022 underneath the management of Cook dinner, who has served as CEO since 2011. The proxy assertion signifies that the share of performance-based RSUs granted to Cook dinner was elevated from 50% to 75% of his 2023 goal fairness award.
Forward of Apple’s annual shareholders assembly on March 10, Cook dinner shared a message to shareholders reflecting on the previous yr, with an excerpt beneath:
The worldwide challenges with us all right now — from inflation, to warfare in Japanese Europe, to the enduring impacts of the pandemic — make this a time for deliberate and considerate motion. However it’s not a time to retreat from the long run. We’ve at all times run Apple for the long-term, and which means persevering with to put money into innovation, in individuals, and within the optimistic distinction we are able to make on the earth.
In the present day, we now have the strongest lineup of services and products we’ve ever had, and our know-how has by no means proven up for our customers in additional methods. And our newest improvements are serving to so many people harness our creativity, join with family members, discover leisure and pleasure, and reside safer, more healthy lives.
The complete letter might be discovered on web page six of the proxy assertion linked above.
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