Even 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.