Apple CEO Tim Cook gets paltry pay increase in 2013
Apple 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.