The Business Times
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Apple CEO gets 74% bonus boost

Published Thu, Dec 28, 2017 · 09:50 PM

    New York

    APPLE Inc chief executive officer Tim Cook received a 74 per cent increase in his annual bonus for fiscal 2017 as the iPhone maker posted higher revenue and net income, after a rare decline a year earlier.

    Mr Cook's incentive pay totalled US$9.33 million for the year ended Sept 30, the Cupertino, California-based company said on Wednesday in a regulatory filing. He also took home US$3.06 million in salary and a previously disclosed equity award of US$89.2 million, bringing his total payout for the year to about US$102 million.

    His top five lieutenants each got bonuses of US$3.11 million, bringing their total compensation to about US$24.2 million each, including salaries and stock awards. The equity compensation is composed of shares that vest solely based on the executives' continued employment and others tied to the performance of Apple's stock compared with other S&P 500 companies. BLOOMBERG

    Tim Cook

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