Apple CEO Tim Cook was one of world’s highest paid executives in 2021. The smartphone giant’s top-honcho earned an eye-popping $98.7 million in base salary, stock and other compensation last year. In Indian Rupee, the figure exceeds 700 crores. The $98.7 million pay is significantly higher than cook’s earnings in 2020, which was roughly $14 million (roughly Rs 104 crores).
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.
Cook also earned about $82.5 million (roughly Rs 613 crores) in stock awardsIt includes $44.8 million in performance-based stock awards and $37.5 million in time-based stock awards. Cook received a compensation of $1.39 million (roughly Rs 10.33 crores) that includes $712,488 for private jet travels and $630,630 for security, $23,077 for vacations, and $17,400 contribution to his 401(k) plan. Apple says it does not let its CEOs fly in commercial planes for security reasons. None of this stock has vested as of yet, the report said.
Cook also holds 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. The filing also mentions that Apple has seen remarkable growth in 2021. Apple last week became the first publicly traded company on the planet to cross the $3 trillion market capitalization mark.
In October, Apple announced record earnings for the fourth quarter of 2021. The company said that its September quarter revenue stood at $83.4 billion – up 29 percent over the corresponding period last year. The company’s earnings could be higher, had it not been for supply chain shortages.