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Apple CEO Tim Cook Salary Cut: iPhone maker Apple has made a big cut in the salary of its Chief Executive Officer (CEO). The Bloomberg report said that Apple’s CEO Tim Cook himself had requested the company to adjust his pay. After this, his salary has been reduced by more than 40 percent.
How much salary will you get after reduction
Tim Cook’s salary will be $ 49 million i.e. 4 billion rupees after a big cut in the salary of Apple’s CEO. During the year 2022, Cook received an amount of $ 99.4 million. This included $3 million basic salary, $83 million in stock awards and bonuses. Earlier during 2021, Tim Cook was paid a total of $ 9.87 million.
Tim Cook’s stock percentage increased
The company informed in the regulatory filing that under the new package given to Cook, the percentage units of the stock have been increased from 50 percent to 75 percent, which will be based on the performance of the company’s stock Apple. The company informed in the filing that the package offered to Cook has been decided based on shareholder feedback, the company’s performance and Cook’s request.
Criticism of last year’s package
Last year’s package of Tim Cook was criticized. Many shareholders had opposed last year’s package given to the CEO, but most of the shareholders voted in favor of this package. Let us inform that the value of Tim Cook’s equity award last year was $75 million.
Will donate property
The CEO of Apple has decided to donate his wealth to charitable work. Talking about the fall in the shares of the company last year, it has fallen by 27 percent. However, so far this year, the shares of the company have increased by 2.7 per cent. The market cap of the company is $2.122 trillion.
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