Apple CEO Tim Cook obtained nearly $100 million in compensation in fiscal 2021 in what was one other sturdy year for the iPhone maker, based on an SEC submitting revealed Thursday.
Cook, 61, earned $98.73 million in total compensation. The sum included greater than $82 million in stock awards, a $12 million bonus tied to inner efficiency targets, a $3 million base wage and about $1.4 million in different compensation.
For Cook, the year marked a decade of service as Apple’s CEO. The tech large reported annual gross sales of nearly $366 billion regardless of the continued impression of the COVID-19 pandemic and provide chain points which have sophisticated manufacturing.
“In 2021 we marked the 10th anniversary of Tim Cook’s leadership as CEO,” Apple stated in the submitting. “It’s been a remarkable decade for Apple and in 2021 Mr. Cook was granted an equity award for the first time since he was promoted to CEO in August 2011.”
Of the $82 million in stock awards, about $44.8 million got here in the type of performance-based restricted stock items. The remaining $37.5 million can be dispersed in three tranches beginning in 2023.
The $1.4 million in different compensation consists of Cook’s air journey, 401(okay), life insurance coverage, safety and trip cash-outs.
Cook’s pay rose considerably in comparison with the earlier fiscal year, when the Apple CEO obtained $14.8 million in compensation. In 2021, he earned greater than 1,400 occasions the pay of Apple’s average employee, based on Reuters.
Earlier this week, Apple turned the primary company in historical past to attain a $3 trillion market valuation. The tech large has since fallen again under the historic threshold.