Dec 28, 2017

Apple CEO Tim Cook Earned $102 Million In 2017, As He Now Required To Fly Privately

In fiscal 2017, Apple CEO Tim Cook received a salary of $3.06 million plus $9.33 million in bonuses and stock worth $89.2 million for a total compensation package of approximately $102 million. As noted by Bloomberg, Tim Cook ended the year as a big winner, netting a 74 percent bonus thanks to the company’s strong performance this year.

The data was shared recently by Apple in a proxy statement filed with the United States Securities and Exchange Commission ahead of the Cupertino firm's annual shareholders meeting, which will take place on February 13, 2018.


Executive officers at Apple, which includes CFO Luca Maestri, retail VP Angela Ahrendts, hardware technologies VP Johny Srouji, hardware engineering VP Dan Riccio, and former general counsel Bruce Sewell each received bonuses of $3.11 million, for approximately $24.2 million each.

Another interesting detail from Apple’s proxy statement filling is that Tim Cook is now required to fly on private aircraft "for all business and personal travel." The flight policy was implemented in 2017 "in the interests of security and efficiency" based on Cook's "highly visible" role as CEO.

Cook's personal air travel expenses amounted to $93,109 in 2017, as considered extra compensation and taxable. Furthermore, the filing says that Apple spent an additional $224,216 in personal security costs provided to Cook.

Via MacRumors And 9to5Mac, Image Credit Bussiness Insider

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