The Apple CEO Tim Cook’s annual compensation dropped to $11.56 million in 2019, down 26% from $15.7 million in 2018.
The compensation of Tim Cook’s contains a $3 million base salary, $885,000 benefits for expenses such as use of private jets and $7.7 million incentive bonus which was lower due to company’s exceeding its sales target by only 28%.
Here’s a detailed information regarding the total compensation of Apple’s CEO for 2019, 2018 and 2017.
The 2019 annual total compensation of Apple’s CEO was $11,555,466, the 2019 annual total compensation of company’s median compensated employee was $57,596, and the ratio of these amounts is 201 to 1.
The annual base salaries for other executives including Ms. Adams, Ms. Ahrendts, Mr. Maestri, and Mr. Williams remained at $1 million for 2019, and Ms. O’Brien’s annual base salary was set at $1 million when she was promoted to her current role.
Mr. Cook’s annual base salary remained at $3 million for 2019.
The performance condition requires Apple to outperform two-thirds of the companies that were included in the S&P 500 for the entirety of each performance period in order for 100% of the performance-based RSUs allocated to that period to vest. The 2011 RSU (Restricted Stock Units) Award has only downside risk to Mr. Cook, the U.S Securities and Exchange Commission stated.
For the three-year performance period from August 25, 2016 through August 24, 2019, 280,000 performance-based RSUs were subject to the Relative TSR performance condition, it stated.