In a recent statement filed by tech giant Apple with the SEC, it was revealed that Apple CEO Tim Cook earned $98.7 million in base salary, stock, and other compensation in 2021.
The remuneration earned by the Apple top executive in 2021 is 6.7% higher than he earned in 2020 ($14.8 million). According to the filing, Cook’s 2021 compensation was 1,447 times the median Apple employee’s total compensation of $68,254.
Here’s a breakdown of Cook’s remuneration:
- $3 million in salary
- $12 million bonus for hitting Apple financial and environmental sustainability goals
- $1.39 million in other compensation, including $712,488 in personal air travel, $630,630 in security, a $17,400 contribution to his 401(k) plan, $2,964 in life insurance premiums, and $23,077 in vacation cash-out.
- $82.35 million in stock awards
Those stock awards are part of a five-year grant announced in Sept. 2020 on the first day of Apple’s fiscal 2021. They haven’t vested yet and they are in two parts.
Tim Cook took over from the company’s co-founder Steve Jobs when he stepped down months before he passed on. Since Cook took over, the company stock has risen by over 1,000%. He previously served as the company’s chief operating officer under its co-founder Steve Jobs.
Cook became a billionaire in 2020 when Apple market capitalization reached $2 Trillion. However, he is worth much more with the recent $3 Trillion market value reached by the tech company.
It has been a wonderful year for Apple as it reported a 33% growth in revenue and over $365 billion in sales.
