Apple gave Tim Cook a $12 million bonus as his total 2018 compensation hits $136 million

Despite its revenue immature adult woman together with revised guidance, Apple has topped financial targets for financial 2018 together with hence the company’s board has decided to give CEO Tim laid upwards a 22% increase inward pay.

According to Apple’s SEC filing for financial 2018, Tim Cook’s compensation inward financial 2018 has surged to $15.7 million, up from the $12.83 meg he earned inward 2017.

BusinessInsider has more:

That includes a base of operations salary of $3 million, $12 meg inward bonus incentives for hitting performance goals related to sales together with operating income, together with $294,082 to pay for Cook’s individual jet fare.

The figure excludes $121 meg inward Apple stock that vested final year. If you lot add together the $121 meg inward 2018 stock awards to the $3 meg base of operations salary, the $12 meg inward non-equity incentives awarded based on performance together with the $682,00 inward “other compensation,” Cook’s sum compensation for financial 2018 reaches a cool $136.68 million.

“We believe the compensation paid to our named executive officers for 2018 appropriately reflects together with rewards their contribution to our performance,” Apple states inward the filing.

The Cupertino technology scientific discipline giant too spent $294,082 on individual aircraft flights for the CEO together with $310,981 on Cook’s personal security. Back inward 2017, the iPhone maker began requiring that Cook utilization individual aircraft for both concern together with personal travel. Apple’s board said at the fourth dimension that doing together with hence would hold upwards “in the interests of safety together with efficiency based on our global profile together with the highly visible nature of Mr. Cook’s go every bit CEO.”

Other executives were awarded big bonuses every bit well: finance boss Luca Maestri, full general counsel Kate Adams, retail caput Angela Ahrendts together with op-chief Jeff Williams all made over $26 meg each, stock awards included. These executives convey a base of operations salary of $1 million.

Directors Andrea Jung, Al Gore together with Bob Iger are on Apple’s compensation committee.

Some of Cook’s massive stock incentives every bit constituent of a 2011 grant vested before this yr (he cashed inward $121 million). Plus, he nonetheless has over 1.5 meg Apple shares that haven’t vested, worth roughly $189 meg at the electrical flow portion price.

Here are other highlights:

• Cook was paid $15,682,219 inward financial 2018


• The median Apple employee makes $55,426


• Half of Apple’s sum employees brand less than the media pay together with one-half brand more


• Apple currently has 132,000 employees

It must hold upwards underscored that many Apple employees piece of job inward retail together with amongst AppleCare, together with they’re factored into the median employee compensation calculation. “Cook’s $15.7 meg compensation, non counting his restricted stock, is 283 times what the median Apple employee makes,” reads the Business Insider report.

The median Facebook employee makes $240,430. The difference? Apple employs retail workers.

— kif (@kifleswing) January 8, 2019

Apple’s financial 2018 ended September 29, 2018. The vacation quarter for which Apple issued a revenue alert files every bit Apple’s financial 2019 get-go quarter. As such, Apple’s guidance correction for the vacation quarter has no bearing on executive compensations for financial 2018.

Cook is planning to give his riches to charity, like to Bill Gates together with Warren Buffet. An SEC filing revealed that Cook final yr donated $5 meg inward Apple stock to an unspecified charity.

Since becoming Apple’s CEO inward 2011, Cook’s made $650 meg inward stock.

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