Apple CEO Tim Cook earned $63.2 million in 2023, a $36.2 million drop from the $99.4 million the company paid him in 2022, according to the Apple proxy statement that was released today.
Cook earned a $3 million base salary, $47 million in stock awards, $10.7 million in performance-based bonus awards, and $2.5 million in other compensation, which included 401(k) contributions, term life insurance premiums, vacation cash-out, security expenses, and personal air travel expenses.
Cook currently owns 3,280,053 shares of Apple stock, as well as an additional 1,291,086 RSUs that have not yet vested.
Cook’s 2023 target total compensation was $49 million, a reduction of over 40% from his 2022 target total compensation. His target award was $49 million, which was ultimately exceeded due to Apple’s performance. For 2024, Cook’s target equity award is set at $50 million, with 75 percent of that subject to performance-based vesting.
As for other senior executives, including Luca Maestri, Kate Adams, Deirdre O’Brien, and Jeff Williams, they all earned approximately $27 million each, mostly in the form of stock awards.
(Via MacRumors)