Apple Inc. is cutting Chief Executive Officer Tim Cook’s compensation by more than 40% to $49 million in 2023, citing investor guidance and a request from Cook himself to adjust his pay.
As part of the changes, the company said in a regulatory filing Thursday that the percentage of stock units awarded to Cook and linked to Apple’s performance will rise to 75% in 2023 from 50% now and in future years. Cook received $99.4 million in compensation for 2022, which included a $3 million base salary, approximately $83 million in stock awards, and a bonus. This was an increase from his total pay package of $98.7 million in 2021.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
