Apple CEO Tim Cook salary: With hefty 23% pay raise, this is what he got in 2018 - The bonus part is whopping $12 million! Check full package details
Check what Apple CEO Tim Cook earned as salary and bonus.
Apple Inc. is the world's one of biggest firms and in equity king Warren Buffett’s words - a real estate in its own. Guess what! Just like its brand, the company is also one the largest salary givers to its employees, and one can only imagine the pay its chief Tim Cook must be taking home. The company in an SEC filing has revealed that Tim Cook earned over $15.68 million 2018, higher by nearly 23% compared to the salary of $12.83 million in 2017. What is even more interesting to see is that Tim Cook’s basic salary came down but the major push was incentives provided by Apple in 2018. As per the filing, Tim Cook’s total pay scale was $15,682,219 in 2018 under which - a basic salary of $3,000,000 with a whopping $ 12,000,000 non-equity incentive plan compensations and a $682,219 other compensation was included.
In 2017, Tim Cook’s basic salary was at $3,057,692 with non-equity compensation of $9,327,000 and $440,374 other compensations.
For 2018, Apple said, “Cook’s annual base salary was $3 million and the annual base salary for each of our other named executive officers was $1 million. The 2018 salary for Ms. Adams reflects the portion of her $1 million annual base salary that she earned from her date of hire through the end of 2018. Because 2017 was a 53-week fiscal year, the 2017 salary amounts reflect an extra week of pay.”
But guess what! Tim Cook has more money than you can imagine in Apple. In fact, his yearly salary is nothing compared to his holding in Apple and their valuation.
As on September 29, 2018, Tim Cook has about 1,540,000 outstanding equity shares in Apple whose market value of units that have not vested stands at $347,639,600.
Apple’s filing chart reveals that - Tim Cook’s Equity Incentive Plan Awards (Number of Unearned Shares, Units or Other Rights That Have Not Vested) stood at 840,000 shares which amounts to $189,621,600.
(Image Source: Apple SEC filing)
Furthermore, Tim Cook acquired 560,000 equity shares on vesting whose value stands at $121,049,600 in 2018.
(Image Source: Apple SEC filing)
Not only this, Tim Cook’s estimated total value of equity acceleration upon death stands at $416,885,119. While the estimated total value of equity acceleration upon disability comes at $141,508,054.
(Image Source: Apple SEC filing)
Going forward, it would be quite interesting to watch Tim Cook’s salary in 2019, as Apple has slashed its revenue expectations for the first quarter of 2019 (ended December 29) to $84 billion, lower than the earlier estimate of $89 – $93 billion.
This cut comes with Apple's Chief Executive Tim Cook blaming slowing iPhone sales in China, whose economy was hit by uncertainty around US-China trade relations. The decision also highlights how the economic slowdown in China has been sharper than many expected, catching companies and leaders in Beijing off balance and forcing some to readjust their plans in the market.
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