The head of Apple, Tim Cook.EP
Apple CEO Tim Cook will earn 40% much less in 2023 in comparison with final 12 months, as much as $49 million, after requesting an “adjustment” resulting from criticism from shareholders, the corporate reported Thursday.
Cook has a base wage of $3 million and receives most of his compensation in shares, whose goal quantity will probably be decreased to $40 million and can rely virtually solely on the great efficiency of the enterprise, in keeping with a doc submitted to the Market Commission. US Securities
The last determine could range, nonetheless, since final 12 months a complete of 99.4 million was pocketed, of which 83 million corresponded solely to the package deal of shares, a determine that was above the goal quantity set at 75 million, signifies the doc.
The modifications have been pushed by the corporate’s compensation committee with the go-ahead from Cook after shareholders raised considerations in regards to the dimension of their compensation giving decrease approval (64%) than the earlier 12 months (95%). to what the dome wins.