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Apple CEO Tim Cook Made $4.25 Million This Year

Published on December 28, 2013
by John Paczkowski

TimCookJazzHandsAnother nugget of data from Apple’s latest shareholder proxy: CEO Tim Cook took home a compensation package valued at $4.25 million this year, little changed from the year prior.

In its annual proxy filing on Friday, Apple said Cook’s pay for fiscal 2013, which ended in September, consisted of $1.4 million in salary and a bonus of $2.8 million. In 2012, Cook’s compensation package was $4.2 million.

So Cook’s pay remained steady over those two years, with one noteworthy exception: He gave up about 7,123 Apple shares tied to the company’s annual performance.

Cook_Vesting

Because of the decline in Apple’s stock this fiscal year the company’s board decided that only 72,877 shares out of a tranche of 80,000 should vest. Cook — who in June explicitly requested vesting terms tied to the company‚Äôs performance — forfeited the remainder.

Based on Apple’s closing stock price of $560.09 on Friday, those shares would have been worth nearly $4 million.

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URL: http://allthingsd.com/20131228/apple-ceo-tim-cook-made-4-25-million-this-year/