Saturday, May 18, 2024

Apple CEO Tim Cook Gets 99% Salary Cut Sans Stock Awards

apple ceo tim cook salary cutEven as Apple’s stock performance sees a rise, Apple CEO Tim Cook does not seem to be getting his due share. Apple’s regulatory filing on Thursday suggests that Cook has had to take up almost a 99% cut in his compensation at the company. The 2012 compensation disclosures of the company suggest that Cook withdrew $4.17 million for the year. This is a massive cut compared to the 2011 package that gave him more than $376 million in long-term stock awards. Incidently, Cook has not received any Apple stock awards for 2012.

When Cook took over as CEO of the company after the demise of Apple co-founder Steve Jobs last year, he was awarded the largest pay package given to any CEO in about a decade. The stock bonuses for Cook total at $376 million and the returns will come in two batches–in 2016 and in 2021.

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Nishtha Shukla Anand
Nishtha Shukla Anand
The founder and CEO, Nishtha Shukla Anand has extensive experience of more than 15 years of media experience. She worked with leading media houses such as India Today, Pioneer and Reuters before setting out to do something on her own in 2006 with Pen Pundit Media Services.

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