Apple Inc. Chief Executive Officer Tim Cook r received nearly $100 million in compensation in 2021, nearly seven times what he earned in 2020, according to filings submitted to the Securities and Exchange Commission. The last year he completed 10 years as the company’s CEO and led the iPhone maker to record profits during a global pandemic.
Here’s how the pay breaks down: Cook received $3 million in base salary, $12 million in non-equity compensation, $1.4 million in other compensation, and $82.3 million in restricted Apple stock units. The total does not include $750 million in stock that vested in 2021, the final tranche from a massive stock package bestowed on Cook when he took over as CEO from cofounder Steve Jobs in 2011.
With the expiration of the restricted stock units (RSU) award that Cook received when he became CEO, Apple established a new plan for Cook, as the company had previously disclosed. The new award, valued at $82.3 million in the filing but potentially worth much more, pushed Cook’s compensation to nearly 1,500 times what Apple’s average employee receives, the company revealed.
“The 2021 annual total compensation of our CEO was $98,734,394, the last year annual total compensation of our median compensated employee was $68,254, and the ratio of these amounts is 1,447 to 1,” Apple AAPL, -1.67% said in the annual proxy filing.
Cook received compensation totaling slightly less than $15 million in the previous year, which itself was a big raise thanks to a strong bonus.