Apple Inc. on Friday disclosed a 18% pay increase for Chief Executive Officer Tim Cook ahead of its annual meeting next month, while also saying it opposed a shareholder measure calling for an end to the company’s diversity program.
Cook’s compensation grew to $74.6 million in 2024, compared with $63.2 million the prior year, Apple said in its annual proxy filing on Friday
Cook’s pay was made up of a $3 million base salary, $58.1 million in stock awards, and roughly $13.5 million in additional compensation. The raise mostly comes from an increase in stock award value.
While Cook’s pay is up significantly from last year, it’s still a far cry from his total compensation in 2022, which reached nearly $100 million thanks to stock awards. His pay was cut at his discretion in 2023 after push back from employees and shareholders.
Much of the stock price increase is from the May 2024 stock buyback announcement. Apple’s announcement of a $110 billion stock repurchase program was the “largest single program announcement on record,” according to Birinyi Associates.
credits:
Market watch
Mark Hulbert
Bloomberg
Mark Gurman
Cook’s compensation grew to $74.6 million in 2024, compared with $63.2 million the prior year, Apple said in its annual proxy filing on Friday
Cook’s pay was made up of a $3 million base salary, $58.1 million in stock awards, and roughly $13.5 million in additional compensation. The raise mostly comes from an increase in stock award value.
While Cook’s pay is up significantly from last year, it’s still a far cry from his total compensation in 2022, which reached nearly $100 million thanks to stock awards. His pay was cut at his discretion in 2023 after push back from employees and shareholders.
Much of the stock price increase is from the May 2024 stock buyback announcement. Apple’s announcement of a $110 billion stock repurchase program was the “largest single program announcement on record,” according to Birinyi Associates.
credits:
Market watch
Mark Hulbert
Bloomberg
Mark Gurman
