Apple CEO Tim Cook's earnings totaled $98.7 million in base salary, stock, and other compensation, according to a statement that Apple filed with the SEC today.
Cook earned a $3 million base salary, and he was provided with stock award of $82,347,835. This stock award is RSUs that will vest over time, and it includes $44.8 million in performance-based stock awards and $37.5 million in time-based stock awards. None of this stock has vested as of yet.
Cook also had more than 5 million shares vest in 2021, netting him a total of $754 million. Because these were granted in earlier years, the $754 million does not count as part of his 2021 compensation package.
In addition to the $3 million salary and $82 million stock grant, Cook received $12 million as non-equity incentive plan compensation and $1,386,559 in "Other" compensation. Other compensation includes a $23,077 vacation payout, $630,630 in security expenses, and $712,488 in personal air travel. Apple requires Cook to use a private airplane for security reasons.
In 2020, Cook earned a total of $14.8 million, not counting stock awards that vested during that time period. Cook's net worth has climbed to more than $1 billion since 2020, and it may soon exceed that based on the stock awards he's recently been provided with.
Other Apple executives such as Luca Maestri, Kate Adams, Jeff Williams, and Deirdre O'Brien received compensation ranging from $26 million to $27 million.
Article Link: Apple CEO Tim Cook Earned $98.7M in Stock and Salary in 2021
