Thursday, 18 January, 2018

Apple CEO Tim Cook's total compensation package for 2017 is $102…

An Apple iPhone 7 An Apple iPhone 7
Elsie Buchanan | 29 December, 2017, 02:10

For Apple CEO Tim Cook, fiscal year 2017 brought good tidings in the form of a hefty 47 percent pay increase and use of a private aircraft. Apart from the salary, he received Dollars 89.2 million in equity award.

Further, the proxy statement says that Cook will have to pay taxes anytime he uses an Apple private jet for personal travel as the cost will come under extra compensation.

"This policy was implemented in 2017 in the interests of security and efficiency based on our global profile and the highly visible nature of Cook's role as CEO", Apple said in the shareholder proxy statement filed late on Wednesday.

Apple said transporting the chief executive around the world in 2017 cost more than $93,000 (£69,000) and his personal security costs ran to more than $220,000 (£163,000). In 2016, missed targets meant Apple execs got only 89.5 per cent of their potential cash incentive payouts for the year.

For Apple CEO Tim Cook, Santa Claus came this Christmas season to drop down his chimney a 46 percent pay raise and the use of a private aircraft.

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A park spokesperson said power has been restored to a majority of the park, although though some rides may still be affected. KABC reports that the park was near capacity when the outage occurred in both Fantasyland and Toontown.


Apple's filing disclosed Cook's pay, as well as the earnings of other top executive officers who made out even better than their boss.

The market capitalisation for the iPhone maker has been hovering around $US900 billion (more than $A1 trillion) and is up almost 50 per cent for the year. Cook has not received an equity award since 2011, when he was named CEO after serving previously as COO.

Cook's predecessor, the founder of Apple Steve Jobs had his own private jet that was gifted to him during 2000 by Apple.

Apple's stock (NASDAQ:AAPL) has been on the climb since the beginning of 2017, which is in line with the NASDAQ composite, the index of the market for which Apple is traded, for the year. Last year, sales declined compared to 2016. Being the top performer in the smartphone industry in the last quarter, Apple brought home nearly United States dollars 151 more than Samsung. That amount also includes Apple stock that vest only if they stay with the company.

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