Image Source : FILE/AP Tim Cook’s pay up 40% in 2020 as Apple’s market cap hits $2.2 tn
Despite the Covid-19 pandemic that affected Apple’s retail operation globally, the corporate has exceeded its inner monetary targets up to now fiscal yr, and CEO Tim Cook’s money bonus jumped 40 per cent to $10.7 million, The Wall Street Journal reported.
Cook’s 2020 pay, excluding vested shares, was $14.8 million, together with the money bonus and a $3 million wage that did not change from the prior yr.
In its annual proxy submitting with the US Securities and Exchange Commission (SEC), Apple mentioned it paid out 179 per cent of the focused bonuses for named officers.
Cook’s bonus “had taken a 36% hit in 2019 when his pay package fell as revenue and profit declined tied to weaker iPhone sales”.
“Apple’s share price rose more than 80% in 2020, placing its market value at more than $2 trillion,” the report talked about on Tuesday.
In addition to his compensation, Cook had a complete of $281.9 million in restricted inventory that vested throughout the yr.
The package deal included $470,246 in safety prices and $432,564 for air journey.
Cook took residence $125 million as his pay package deal in 2019, barely decrease (almost 8 per cent) than $136 million which he acquired in whole compensation in 2018.
Latest Business News
