Tim Cook, apple’s chief executive, will earn more than $11 million a year in 2019, according to a 2019 shareholder proxy filed with the Securities and Exchange Commission on Friday,media reported. Cook received a base salary of $3 million, plus a $7.7 million performance award. Cook also received an additional $884,000 in “other compensation” totalling $115,554,466. Other compensationincludes include lifetime insurance premiums, contributions to the 401k plan, cash payments for vacations (totalling $92,000), security expenses of $457,083 and $315,311 for private aircraft.
Cook’s income is nearly $4 million less than the $15 million in 2018. Notably, the salaries listed here do not include stock awards awarded in 2019, from which Cook earned more than $113 million.
Most other Apple executives receive a base salary of nearly $1 million and a $20 million-$25 million stock award. Luca Maestri, Kate Adams and Jeff Williams earned more than $25 million. Angela Ahrendts, who left last year, earned $22 million, while her successor, Deirdre O’Brien, earned $19 million.
All Apple executives are paid much more than the median of Apple employees, which is $57,596, because of the large number of retail and after-sales employees who work for Apple. Cook earns 201 times the average employee’s salary.
Apple’s full shareholder mandate includes other salary details, some of which will be voted on at Apple’s 2020 general meeting scheduled for February 26, 2020.