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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