Here's What Apple CEO Tim Cook Was Paid in 2012
How much did Tim Cook make last year?
When the late Apple CEO Steve Jobs stepped down, all eyes were on his replacement Tim Cook, who promised staff things wouldn't change just because Steve was gone. However, one thing that definitely changed was the CEO's salary. While Steve Jobs earned just $1 per year (don't worry, Mr Jobs had approximately 5.5 million Apple shares, he wasn't starving), Tim Cook's salary was significantly more. However, it seems Tim Cook's compensation package took a hit in 2012.
According to an SEC filing from Apple, Tim Cook received $4.17 million in compensation for 2012. This is down almost 99 percent from last year's compensation package, though his actual salary was over 50 percent more than he received in 2011. How does that work? Well, Cook's compensation package is comprised of several components, his salary being just one of them. Cook's compensation of $378 million for 2011 was mostly made up of a one-off stock grant. His actual salary was "just" $900,000. Apple said in an SEC filing that the board decided late last year to give Cook a base salary raise.
"In November 2011, the Compensation Committee determined that it was appropriate to increase Mr. Cook’s base salary to $1,400,000 from $900,000," the filing reads. "Mr. Cook's cash compensation is set at a higher level than the cash compensation for the other members of the executive team to reflect his responsibilities for the overall leadership of the Company."
Apple goes on to say that Cook is part of the same performance-based bonus program as the other Apple execs, which means he has the opportunity to earn a maximum bonus of 200 percent of his base salary.
With his base salary of just under $1.4 million and 2.8 million from Apple's non-equity incentive plan (plus about seventeen grand in 'other compensation') Tim Cook's total salary for 2012 was $4,174,992. In comparison, other Apple execs received quite a bit more thanks to sizable stock awards. CFO Peter Oppenheimer earned $68,591,562 ($66,169,750 in the form of a stock award), while Senior VP of Operations, Jeffrey Williams, earned $68,691,612 thanks to a stock award of similar value.
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Jane McEntegart is a writer, editor, and marketing communications professional with 17 years of experience in the technology industry. She has written about a wide range of technology topics, including smartphones, tablets, and game consoles. Her articles have been published in Tom's Guide, Tom's Hardware, MobileSyrup, and Edge Up.
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Parsian am i reading these numbers correctly??? man it is so much easier to be a douche bag and i think I can climb up the ladder pretty good. I should apply there.Reply -
tburns1 Also, anyone buying the BS that Jobs was taking a $1 salary because he believed in the company so much, he didn't want to seem like a greedy CEO, is way beyond naive. The $1 salary was to evade taxes. Taxes on investments is at a substantially lower rate.Reply -
acadia11 Of course, paying him in stock is better. "Cap Gains" my friend is only 15%. It's smart for executives to get paid in stock vs salary. Cause salary would be taxed for the portion of income over well now $400,000 would be taxed at 39.6%. So, it's the difference between taking home $320 million or $220 million a difference of $100 million dollars. Only the dumb axx masses want to be paid in salary. We should all ask for stocks. this is why I fundamentally can't understand GOP supporters, some bumble ...k redneck thanks he has something in common with someone like Tim Cook, you aren't in their league, you think if they had a choice between keeping cap gains at 15% vs keeping the "payroll tax cut" which effected 166 million working families gave them an extra 2% in salary, they would keep your tax break ... heck no, I wouldn't fight to keep yours if I was Tim Cook. Honestly, I understand how top 2% vote GOP, but 98% you neophytes confound me always betting against your own interest, maybe that's why you don't make the money Tim Cook does.Reply
or as Jay-Z said, we said in "On my way home"
"we not in the same bracket,
Not in the same league,
don't shoot at the same baskets,
Don't pay the same taxes,
hang with the same bytches
So how am i in the way, what is it i'm missing?" -
This is rich board members who are CEOs of other companies robbing those companies blind by giving each other criminal levels of compensation.Reply
Nothing more. -
crewton Yes, but the average apple store employee makes 100x more than the average foxconn worker!Reply -
DearSX These cowards take home money that should go to Foxconn workers among others, imo. We need to stand up for our rights imo, or we'll suffer the consequences.Reply