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Apple last night held its annual general meeting for February setDetailed information was provided in the SEC filing, including Tim Cook's earnings.
Apple boss Tim Cook earned over $14 million in 2020. This is according to Apple's SEC filing outNo stock awards were distributed. Cook earned a base salary of $3,000,000 in 2020. The CEO received an additional $10,731,000 for other services. Apple's performance exceeded targets for net sales and operating profit, resulting in a total payout of 179 percent of the total bonus opportunities for Cook and other Apple executives. Cook also received $1,038,259 in "other compensation"—a total of $14,769,259. This includes $17,100 in 401(k) contributions, payments for term life insurance, a vacation payout of $115,385, security costs of $470,246, and $432,564 in personal travel expenses.
Tim Cook sold a large block of shares in September
The Cupertino-based company requires Cook to use a private jet for security reasons. In 2019, Cook earned $11.5 million, receiving less compensation as part of Apple's incentive plan. Cook's 2020 compensation package does not include stock benefits. Cook received a stock package worth more than $100 million in September to ensure he remains Apple's CEO until 2025. Cook also sold $131.7 million worth of Apple stock in August 2020. During 2020, Cook's net worth rose to more than $1 billion, according to Bloomberg calculations. Other Apple executives, including Luca Maestri, Kate Adams, Deidre O'Brien, and Jeff Williams, each received more than $26 million. (Image: Apple)
