Tim Cook received compensation of $9.22 million last year for his work as Apple’s Chief Executive Officer, according to a new SEC filing by the company. Bloomberg points to the documents, noting that Cook was paid out $1.75 million and $6.7 million in non-equity incentive compensation for the fiscal year that ended in September.
The amount is more than double Cook was paid for his work in 2013, with much of the boon coming as Apple’s stock reached an all-time high late last year. Apple unveiled several new products in the fall, including long-awaited larger-screened iPhones, a new payment system, and a wearable that it expects to sell well when it launches in March.
The Proxy filing, which you can read through here, also lists 2014 compensation for other Apple executives. The company’s SVP of Internet Software and Services Eddy Cue made a total of $24 million on the year, as did SVP of Operations Jeff Williams. Angela Ahrendts was the top earning executive, making $73 million in cash, stock and bonuses.
Keep in mind that Apple’s executive pay and incentive structures are based largely on performance, and paid mostly in vesting stock. This means that although Cook only (yeah, only) made $9 million last year, he can make several times that in a year that some of his awarded shares vest (become eligible to be sold) and he chooses to sell them.
Source: Bloomberg