Here’s How Much Money Apple CEO Tim Cook Earned in His Annual Compensation Package

Today, Apple disclosed its annual proxy statement for investors, offering insights into executive compensation, shareholder proposals, and various aspects of the company. Notably, the document provides details on the annual compensation of Apple executives, including the CEO, Tim Cook.

The company has scheduled the annual shareholder meeting for February 28, and the statement outlines adjustments to the board of directors.

Here’s How Much Money Apple CEO Tim Cook Earned in His Annual Compensation Package

Regarding Tim Cook’s total compensation for 2023, his target was set at $49 million, a 40% reduction from the 2022 target of $84 million. However, the proxy filing today reveals that Cook’s actual total compensation for 2023 exceeded the target.

According to the filing, Cook earned $63,209,845 in 2023, approximately 28% higher than the planned $49 million compensation. Although this figure is still around 36% lower than his 2022 earnings, the breakdown includes a $3,000,000 salary, $46,970,283 in stock awards, $10,713,450 in non-equity incentive plan compensation, and $2,526,112 in other compensation.

Apple notes that the median annual total compensation for its employees in 2023 was $94,118, resulting in a pay ratio of 672 to 1 between Cook and the median Apple worker. The company asserts that this pay ratio adheres to SEC rules and is a reasonable estimate based on the disclosed methodology.

The proxy statement also details the compensation for other named executives:

– Luca Maestri, CFO: $26,935,883
– Kate Adams, General Counsel and Secretary: $26,941,705
– Deirdre O’Brien, Senior Vice President of Retail: $26,937,010
– Jeff Williams, COO: $26,961,226

Since 2017, Apple’s board of directors has mandated that Cook utilize a private jet for all business and personal travel for security and efficiency reasons. In 2023, Apple reported spending $1,621,468 on Cook’s personal air travel expenses, more than double the expenditure in 2022. Additionally, Apple allocated $820,309 for personal security, covering both direct costs and a percentage of fixed costs incurred by the company to provide such services.

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