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 out. No 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 target performance goals 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 plane for security reasons. In 2019, Cook earned $11.5 million, with less compensation under 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 through 2025. Additionally, Cook sold $131.7 million worth of Apple stock in August 2020. Over the course of 2020, Cook's net worth rose to over $1 billion, according to Bloomberg calculations. Other Apple executives, including Luca Maestri, Kate Adams, Deidre O'Brien and Jeff Williams, each received over $26 million. (Image: Apple)
