Apple CEO Tim Cook gets paltry pay increase in 2013

Apple CEO Tim Cook gets paltry pay increase in 2013Apple Inc Chief Executive Tim Cook's pay package remained roughly the same in 2013 as in 2012, a recent regulatory filing submitted to the Securities & Exchange Commission (SEC) by the iPhone/iPad-maker revealed.

Mr. Cook pocketed $4.25 million in pay and perks in 2013. The package included a base salary of $1.4 million, a bonus of $2.8 million, and a compensation of $52,721 that the company contributed to life insurance premium, holiday cash-out etc.

The 2013's pay package was roughly on par with 2012, when Mr. Cook was paid $4.2 million. In 2011, his compensation package totaled at around $378 million, when the company had granted him 1 million shares after elevating him to the top job.

It is worth mentioning here that Mr. Cook scarified nearly 7,100 shares that were tied to an annual performance-dependent award that was in turn based on shareholder returns from August 24, 2012 to August 25, 2013.

Apple's stock suffered a loss of around a quarter of its value between August 2012 and August 2013.

The Cupertino, Calif.-based tech giant also advised shareholders to vote down activist investor Carl Icahn's resolution seeking to force the company to buy back $50 billion worth of shares during financial year 2014. The company also clamed that it had already returned $43 billion in dividends and share repurchases to investors over the first six months of its $100 billion capital return scheme.