Apple compensated its CEO to the tune of $63.2 million in 2023, down from $99.4 million a 12 months earlier.
The information was revealed in an Apple proxy assertion launched on Thursday.
Cook dinner’s complete earnings for 2023 comprised a base wage of $3 million, inventory awards price $47 million, performance-based bonus awards totaling $10.7 million, and extra compensation price $2.5 million masking issues equivalent to 401(okay) contributions, time period life insurance coverage premiums, trip cash-out, safety prices, and private air journey bills.
The drop of $33 million on his 2022 compensation was primarily all the way down to the diminished worth of Cook dinner’s inventory awards, which had been valued at $47 million final 12 months in comparison with $83 within the earlier 12 months.
Different senior executives at Apple — amongst them Luca Maestri, Kate Adams, Deirdre O’Brien, and Jeff Williams — had been every compensated round $27 million, with most of that coming by way of inventory awards.
Contemplating Apple’s big success in persuading folks to purchase its iPhones, Macs, iPads, and different gadgets, and in addition to enroll to subscription providers like Apple Music and Apple TV+, it’s little shock that members of its prime group are incomes tens of hundreds of thousands of {dollars} yearly.
In its most just lately reported quarter ending September 30, Apple posted income of $89.5 billion and a web quarterly revenue of $23 billion.
“As we speak Apple is happy to report a September quarter income file for iPhone and an all-time income file in Providers,” Cook dinner mentioned on the time.
For the complete fiscal 12 months that lined most of 2023, the tech large noticed $383.3 billion-worth of gross sales and $97 billion in web earnings, barely down on the $394.3 billion in gross sales and $99.8 billion in web earnings that it achieved in the course of the previous 12 months.
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