Technology

Tim Cook took home $125 mn in 2019, less than in 2018

Tim Cook, 59, earned about $11.56 million in non-equity compensation for 2019 — a 26% decline compared to 2018 when he earned nearly $15.7 million.

Tim Cook, 59, earned about $11.56 million in non-equity compensation for 2019 — a 26% decline compared to 2018 when he earned nearly $15.7 million.   | Photo Credit: REUTERS

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According to an SEC filing, Cook received $3 million as base salary in 2019 but his bonus slid to $7.67 million from $12 million, reports Seeking Alpha

Apple CEO Tim Cook took home $125 million as his pay package in 2019, slightly lower (nearly 8%) than $136 million that he received in total compensation in 2018.

According to an SEC filing, Cook received $3 million as base salary in 2019 but his bonus slid to $7.67 million from $12 million, reports Seeking Alpha.

“Cook’s total pay fell last year as the company failed to top its financial targets by as much as in 2018, but Cook still amassed $125 million in total compensation,” the report said on Friday.

APPLE’s board set less ambitious goals for 2019, lowering its sales target by 3% from 2018 to $256.6 million and its profit target by 15% (YoY) to $60.1 billion.

Cook, 59, earned about $11.56 million in non-equity compensation for 2019 — a 26% decline compared to 2018 when he earned nearly $15.7 million.

“In 2019, Apple’s performance exceeded the target performance goals for both net sales and operating income, resulting in a total payout of 128% of the target payout opportunity for each named executive officer,” Apple said in the SEC filing.

Apple shares hit $300 for the first time in late December and closed at $297.43 on Friday.

Apple shares hit a new all-time high of $300 on Thursday, marking significant growth over the course of the last year.

In early January 2019, Apple shares were at $144.

Apple stock has surged owing to reports of better-than-expected aCE iPhone 11aCE and 11 Pro sales and reports of stronger AirPods Pro sales.

The company’s stock rose by nearly 90% last year.

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Printable version | Jan 24, 2020 8:27:53 AM | https://www.thehindu.com/sci-tech/technology/tim-cook-took-home-125-mn-in-2019-less-than-in-2018/article30476943.ece

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