Apple CEO Tim Cook Gained $102 Million in 2017, Will have to Now Fly Privately for Protection Motives


In fiscal 2017, Apple CEO Tim Cook gained a salary of $3.06 million plus $9.33 million in bonuses and stock value $89.2 million for a whole compensation offer of around $102 million, reviews Bloomberg.

The information was shared currently by Apple in a proxy statement filed with the United States Securities and Exchange Fee ahead of the company’s annual shareholders conference, which will take location on February 13, 2018.&#13

Govt officers at Apple, which incorporated Luca Maestri, Angela Ahrendts, Johny Srouji, Dan Riccio, and Bruce Sewell, all gained bonuses of over $3 million, bringing their compensation, which includes salary and stock awards, to around $24.2 million each and every, provided each and every stays with the corporation very long enough for awarded stock to vest. Angela Ahrendts, Apple’s retail main, was the maximum paid govt, bringing in $24,216,072.&#13

In addition to covering govt compensation, present day proxy statement also claims that Apple’s board now involves Apple CEO Tim Cook use personal plane “for all business enterprise and individual travel.” The flight policy was applied in 2017 “in the interests of protection and efficiency” based on Cook’s “extremely noticeable” role as CEO.&#13

About the program of 2017, Cook’s individual air travel costs amounted to $93,109, and Apple invested an extra $224,216 in individual protection fees provided to Cook.&#13

The proxy statement also incorporates six proposals that will demand shareholder action at the forthcoming shareholders conference in February. Proposals include typical actions like re-appointing Apple’s community accounting firm and re-electing board customers, along with two shareholder proposals covering proxy entry amendments and the establishment of a Human Legal rights Committee. &#13

Apple’s board of administrators is recommending shareholders vote against both shareholder proposals, with the total textual content of all of the proposals accessible in the proxy statement filed with the SEC.&#13

Shareholders who desire to attend the shareholders conference, which will be held at the Steve Careers Theater at Apple Park, will need to have to register employing starting off at 8:00 a.m. on January 22, 2018. Apple options to settle for registrations on a initial-occur, initial-serve basis as house is restricted.&#13

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