Apple CEO Tim Cook takes 40% pay cut after shareholder pushback

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Apple CEO Tim Cook takes 40% pay cut after shareholder pushback

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.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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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.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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