Tim Cook, Apple's chief executive, earned $100 million in the company's 2019 fiscal year, slightly lower than in the previous year, in part because of fewer bonuses, foreign media reported on Jan.
In a filing Friday, Apple said Cook received $3 million in annual salary,$7.7 million in bonuses and $884,466 in allowances and other compensation over the most recent period. On top of that, Mr. Cook also holds $100 million worth of Apple stock options.
That leaves Cook with a total compensation of $100 million in fiscal year 2019, lower than the $100 million a year ago. In fiscal year 2018, Cook received a bonus of $12 million, which was also the largest bonus to date for Cook. Apple's recent bonus to cook has shrunk as sales and revenue have fallen short of targets. But apple's stock rose 89% in 2019.
Cook owns nearly $400 million worth of Apple shares that are not up for exercise, according to Apple documents. In 2011, Cook took over as chief executive from co-founder Steve Jobs and won most of the stock through an equity award.
Other Apple executives, including chief operating officer Jeff Williams, chief financial officer Luca Maestri and general counsel Kate Adams, also saw their overall pay fall. All three executives'bonuses fell from $4 million to $2.6 million for the same reason as cook.
In 2019, Apple spent $457,083 on Cook's security and another $315,311 on personal air travel, Apple said in its filing.
Cook last week donated $2 million worth of Apple stock to an undisclosed charity and said he planned to donate most of his fortune before he died. (E)