Tim Cook Gets $4.17M In Compensation In 2012, More Than Doubles His Salary
Apple CEO Tim Cook’s pay was revealed in an SEC filing today. Bloomberg reports that his annual payment included $1.36 million in base salary and $2.8 million in incentive plan compensation. His total compensation for being CEO of Apple in 2012 will be $4.17 million, which is more than a 50 percent increase in base salary last year.
Last year, however, Cook earned $378 million, making him the highest paid CEO in the U.S. During that time Cook was awarded a large stock award, drastically increasing his yearly earnings. That said, he won’t see a lot of that money unless he sticks with Apple for ten years, since most of it, $376.2 million, comes from a one-time stock award.
Without the stock award, Cook’s salary, perks, and bonuses for the 12 months of 2011 came to $1.8 million. Last year his annual salary was $900,000.
Peter Oppenheimer, Apple’s Chief Financial Officer, will receive compensation valued at $68.6 million for 2012, which is up from $1.42 million last year. His stock awards are valued at $66.2 million for 2012.
Image Credit: All Things Apple