What you need to know
- Apple CEO Tim Cook raked in a massive $98.7 million during 2021.
- The money was made up of basic salary, stock, and more.
- Cook's base salary came in at $3 million for the year.
Apple CEO Tim Cook earned almost $100 million during 2021 according to a proxy statement filed by the company. Of that, just $3 million was his base salary with the rest made up of stock awards and other income related to his role at the company.
Cook's total pay came in at $98,734,395 for the year.
The documentation, filed with the SEC, also outlines the income of CFO Luca Maestri, General Counsel Kate Adams, SVP of retail + people Deidre O'Brien, and COO Jeff Willaims. All of those execs earned a $1 million per year salary according to the documents, with a roughly $27 million total income.
On Cook's bumper payday, Apple noted that 2021 marked the tenth anniversary of his reign at the company which resulted in an equity award.
In 2021 we marked the 10th anniversary of Tim Cook's leadership as CEO. It's 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 CEO in August 2011. The structure of this award is better aligned with the performance-based and time-based RSUs awarded to our other named executive officers, while the amount recognizes his exceptional leadership and is commensurate with the size, performance, and profitability Apple has achieved during his tenure.
While the numbers on show here are indeed staggering, it's possible to argue that Cook and his team have been worth every penny to Apple in recent years. The company has gone from strength to strength in terms of revenue and its spot in the marketplace and that, ultimately, is what the executive team is there to ensure.
The full SEC statement can be read online now.
