Apple’s Tim Cook Gets a Bonus Boost, Now Required to Fly Private 

Apple’s Tim Cook Gets a Bonus Boost, Now Required to Fly Private 

Apples Tim Cook Gets a Bonus Boost Now Required to Fly Private

According to the data shared by Apple in a proxy statement filed with the United States Securities and Exchange Commission before the company’s annual shareholder meeting, Apple CEO Tim Cook received a salary of $3.06 million and a $9.33 million bonus, along with stocks worth $89.2 million, making it a total compensation of approximately $102 million in 2017.

Additionally, the proxy statement stated that Apple’s board requires Cook to use private aircraft “for all business and personal travel. This policy was implemented in 2017 in the interests of security and efficiency based on our global profile and the highly visible nature of Mr. Cook’s role as CEO,” says Apple in this new shareholder proxy statement which was released on Thursday afternoon.

Apple also stated that Cook ‘s personal travel costs for the company were close to $93,109, “based on hourly flight charges and other variable costs incurred by Apple for such use, including variable fuel charges, departure fees, and landing fees.”

In addition to this, Apple paid $224,216 as “incremental” private security cost for Cook. In total, Cook cost Apple $12,825,066 in 2017, which included a $16,200 contribution to Cook’s 401 (k) retirement account from the company. Apple’s other executives also get to make use of the private jets if required, however if they have a spouse or a family member traveling with them, they have to pay for the “incremental costs.”

Apple’s top executives, Angela Ahrendts, Johny Srouji, Dan Riccio, and Bruce Sewell, received bonuses of over $3 million. These bonuses brought their total compensation, which includes salary and stock awards, to approximately $24.2 million each. Specifically, Angela Ahrendts, Apple’s retail chief, was the highest paid executive, taking home $24,216,02.

The proxy statement included six proposals that would require action from the shareholders in their upcoming meeting in February. The proposals include standard actions like re-appointing Apple’s public accounting firm and re-electing board members. It also includes two shareholder proposals which cover proxy amendments and establishment of a Human Rights Committee.

The shareholders meeting will be held at the Steve Jobs Theatre at Apple Park on January 22, 2018.

Tanuja Thombre
Tanuja Thombre
A Soft Skills and Behavior Trainer by passion and profession, with 8 years of experience into Mortgage Banking sector. Currently I am working as a Training Consultant and I cater to the training needs across various industries. This also allows me to interact with, train and learn various aspects of human modes. Adorned with certifications from various institutes like Dale Carnegie & Steven Covey. I have a natural instinct for writing; every once a while, a Blog, a short article and in the future I plan to author a Book. When it comes to writing, I believe there is seldom anything as appealing as Simplicity.

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