San Francisco: Apple CEO Tim Cook’s earnings totalled $98.7 million in base salary, stock and other compensation in 2021, media reports said.
According to a statement that Apple filed with the SEC, Cook earned a $3 million base salary and he was provided with a stock award of $82,347,835, reports MacRumors.
This stock award is RSUs that will vest over time, and it includes $44.8 million in performance-based stock awards and $37.5 million in time-based stock awards.
None of this stock has vested as of yet, the report said.
Cook also had more than 5 million shares vest in 2021, netting him a total of $754 million. Because these were granted in earlier years, the $754 million does not count as part of his 2021 compensation package.
In addition to the $3 million salary and $82 million stock grant, Cook received $12 million as non-equity incentive plan compensation and $1,386,559 in “Other” compensation.
Other compensation includes a $23,077 vacation payout, $630,630 in security expenses, and $712,488 in personal air travel. Apple requires Cook to use a private airplane for security reasons.
In 2020, Cook earned a total of $14.8 million, not counting stock awards that were vested during that time period. Cook’s net worth has climbed to more than $1 billion since 2020, and it may soon exceed that based on the stock awards he’s recently been provided with.
(IANS)
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