Apple raises pay for Tim Cook, other top executives

Apple's Tim Cook Gets 74% Bonus Boost After Sales, Profit Rebound

The statement continues by saying that any time an Apple private jet is used by Cook for personal travel, costs are to be considered as extra compensation, on which the CEO would need to pay the appropriate taxes.

In fiscal year 2016, Cook's salary actually dipped $1.5 million from the prior fiscal year. That brings Cook's total compensation for 2017 to a whopping $102 million. The equity compensation is composed of shares that vest exclusively based on the executives' continued employment and others tied to the performance of Apple's stock compared with other S&P 500 companies. That included security expenses in the amount of $224,216, a vacation cash-out in the amount of $103,846, and personal air travel expenses of $93,109 representing "the incremental cost to Apple for Mr. Cook's personal use of private aircraft based on hourly flight charges and other variable costs incurred by Apple for such use".

For Apple CEO Tim Cook, Santa Claus came this Christmas season to drop down his chimney a 46 percent pay raise and the use of a private aircraft.

According to new report from Bloomberg, Cook enjoyed a 47 percent jump in compensation in 2017, pulling in $12.8 million United States dollars for the year, including a $9.3 million cash bonus. This policy was implemented in 2017 in the interests of security and efficiency based on our global profile and the highly visible nature of Mr. Cook's role as CEO.

The election is set to occur at Apple's next shareholders meeting February 13 at the Steve Jobs Theater, on the company's new Apple Park campus in Cupertino.

Obama edges Trump as most-admired man, again
Obama is only the second former president to win the "most admired" title, along with Dwight Eisenhower in 1967 and 1968. Barack Obama has retained the title of world's most admired man in a Gallup survey for the 10th year in a row.

However, Cook is also sitting on a pile of Apple stock.

"In 2017, Apple was above its target performance goals for both net sales and operating income, resulting in a payout of each named executive officer's annual cash incentive at 155.5% of target", the tech giant said in its annual proxy filing with the SEC.

Other employees at Apple, including Executive Officers Luca Maestri, Johny Srouji, Angela Ahrendts, Dan Riccio and Bruce Sewell also ended up drawing in bonuses of about $3 million each.

Since then, demand for Apple's newer iPhone models has been strong, and the company has gotten continued traction from its services division, which includes Apple Pay, AppleCare and digital content.

Tim Cook, the chief executive of Apple, saw his pay package rise by $4 million to $12.8 million thanks to a bounce in sales.

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