Apple CEO Tim Cook’s pay package rose more than 500% compared with the previous year, according to the tech giant’s annual proxy filing with the SEC.
Photo: Marcio Jose Sanchez/Associated Press
Apple Inc. AAPL -1.67% Chief Executive Officer Tim Cook received almost $100 million in compensation in 2021, a year in which he completed 10 years as the company’s CEO and led the iPhone maker to record profits during a global pandemic.
Mr. Cook’s pay package rose more than 500% compared with the previous year, according to the tech giant’s annual proxy filing with the Securities and Exchange Commission.
Apple has benefited from a new iPhone with 5G cellular capability and workers and students stuck at home during the pandemic buying laptops and iPad tablets. The company’s stock rose about 80% last year and continued to climb in recent days, briefly taking Apple’s market value past $3 trillion this week before nudging downward.
The bulk of Mr. Cook’s pay increase came from the award of restricted stock units valued at $82.3 million. Mr. Cook’s base salary of $3 million remained unchanged.
Last year marked Mr. Cook’s 10th year as CEO since taking over from Steve Jobs shortly before the co-founder’s death. “It has been a remarkable decade for Apple, and in 2021 Mr. Cook was granted an equity award for the first time since he was promoted to the CEO role,” the company said in the filing.
Write to Tim Higgins at [email protected]
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This post first appeared on wsj.com
