Almost twice as compared to the past.
During the pandemic, Apple from time to time updated records in terms of its capitalization, in which case its management was interested in maintaining this trend, because it receives a significant part of its remuneration for labor in the form of company shares. CEO Tim Cook made almost $100 million last year with a base salary of less than $3 million, bonuses of $12 million and $83 million in stock, as CNBC explains. private jet flights and vacation expenses of $46,000 to the executive.
Image Source: Apple
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As noted in a new filing received by US regulators this week, Tim Cook’s remuneration structure will change significantly this year. In particular, the share of payment in the form of these same shares, which depends on the dynamics of the share price, will increase from 50 to 75%, but at the same time their value will not exceed $40 million. In essence, this means that in general, the head of the company will earn 50 % less than in the past. Such changes were implemented not only under pressure from Apple shareholders, but also on the recommendation of Tim Cook himself, as noted in company documents. In total, Cook should receive about $49 million in value this year.