Tim Cook got a pay rise for the first time in three years, while the bonuses of Apple’s senior executives soared as shares in the tech company hit an all-time high last year
Cook boasted a $2m (£1.3m) salary last year, a $6.7m bonus and £774m in other compensation, bringing his total remuneration to $9.2m, more than double what he received in 2013, Apple revealed in its annual report today.
Steve Jobs' successor also has a nest egg in terms of stock set to vest over the next six years worth more than half a billion dollars based on Septembers share price. Last year alone he picked up $145m through vested stock.
Shares awarded in 2011, when Cook became chief executive, and vesting over 10 years were worth $376m at the time.
Since then, the value of Apple’s stock has more than doubled, hitting an all-time high in November 2014.
Elsewhere, software chief Eddy Cue and operations boss Jeff Williams brought in $24m each last year, while now-retired finance chief Peter Oppenheimer took home $4.5m in his final pay packet.
New finance man Luca Maestri started off with a pay package of $14m, including $11m worth of stock awards, and former Burberry chief Angela Ahrendts, now leading the tech company’s retail operations, took home $73m, $70m of which was in stock awards - both on a pro-rata basis from when the newcomers started.
All of Apple’s top executives received a salary rise after the firm reviewed its pay against competitors, while bonuses increased to a maximum of 400 per cent of that salary.