Apple CEO Tim Cook takes home USD15.7 mn salary

Apple CEO Tim Cook takes home USD15.7 mn salary
Highlights

Riding on a robust growth last year, Apple CEO Tim Cook earned a compensation package of 157 million including 12 million in bonus that means nearly 33,000 a day The package included 3 million in base salary, 12 million in incentives awarded for performance and another 682,000 as Other Compensation

San Francisco: Riding on a robust growth last year, Apple CEO Tim Cook earned a compensation package of $15.7 million - including $12 million in bonus that means nearly $33,000 a day. The package included $3 million in base salary, $12 million in incentives awarded for performance and another $682,000 as "Other Compensation" (like personal security services and use of a private aircraft), the Cupertino-based company said in its filing late Tuesday with the US Securities and Exchange Commission (SEC) for the fiscal year that ended on September 30.

According to a report in Deadline, there was a modest pay increase in Cook's salary as Apple became the first American company to hit the $1-trillion mark last year, before losing substantial market cap on poor iPhone sale predictions in the later part of the year. The $12 million bonus to Cook was linked to revenue and operating income targets - both of which rose 16 per cent from 2017.

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