In fiscal year 2017, Tim Cook, the Apple CEO, obtained a salary of $9.33 million in stock and bonuses worth $89.2 million for a gross compensation package of an approximate $102 million, as Bloomberg reports.

In a proxy statement the data was shared today by Apple filed with the United State Securities and Exchange Commission, ahead of the annual shareholders meeting of the company that will be held on 13th February, 2018.

The executive officers at Apple that included Angela Ahrendts, Luca Maestri, Dan Riccio, Johny Srouji, and Bruce Sewell, they all received bonuses more than $3 million, bringing in their compensation, including stock awards and salary at an approximate rate of $24.2 million each, provided the fact that each one of them stays with the company long enough for awarded stock to lodge. Retail chief of Apple, Angela Ahrendts, was among the one who was the highest paid executive, bagging in $24,216,072.

In integration to covering compensation of the executive, statement of today’s proxy also states that board of Apple now needs Tim Cook; Apple CEO to use private aircraft for all kinds of business and even personal travels. The flight policy was implemented in the interest of efficiency and security in 2017, based on the highly visible role as CEO of Cook.

Over the path of 2017, expenses on personal air travel of Cook amounted to almost $93,109 and Apple spent an extra $24,216 in the personal security costs that was provided for Cook.

The proxy statement also has inclusion of six offers, which will need shareholder action at the forthcoming meeting of shareholders in February. Proposals include standard actions like; appointing public accounting firm of Apple, and re-election of board members, including two proposals from shareholders covering proxy access modifications and formation of a Human Rights Committee.

Shareholders who feels like attending the shareholders meeting that will take place in the Apple Park, at Steve Jobs Theatre, requires registering themselves using the beginning at 8:00 am on 22nd January, 2018. Apple plans in accepting registrations on a basis of first-come first-serve.


Please enter your comment!
Please enter your name here