• News
  • Money

Tim Cook gets a pay raise amid better iPhone profits

Tim Cook gets a pay raise amid better iPhone profits

While better sales is good news for Apple, which saw sales decline for the first time previous year, the company thought it also means Cook's security could be at risk.

New:As for a more immediate present from Apple, Cook was given the privilege of traveling on a private aircraft which is to be used for all business and personal travel.(End new) For personal travel, Cook used $93,109 in fiscal 2017 year, according to the SEC filing.

Apple said the reason for implementing the new policy for Cook is due to "interests of security and efficiency based on our global profile" and Cook's high profile as chief executive.

The bumper package is linked to Apple's share price performance versus its S&P 500 peers and comes after the company beat its annual sales and income targets.

Mr Cook's total pay for the year came in at $12.8m, with $3.06m his salary, a further $9.3m in cash bonuses and the remainder additional compensation.

After a rare decline in earnings at one point in 2016, the iPhone-maker saw growth in both revenue and net income in its 2017 fiscal year.

However, he also got massive stock pay-out which brought his total 2017 pay to more than $100-million.

Cook's personal security costs also totalled US$224,216, ($316,357) according to the filing. The personal travel costs are added to Cook's overall taxable income for the year.

Apple doled out rewards to other top executives besides Cook, too.

Cook, along with other Apple board directors such as Disney CEO Bob Iger, former U.S. Vice President Al Gore, and former Northrop Grumman CEO Ron Sugar, are up for election to remain in the board another year.

Apple's board of directors is now making CEO Tim Cook fly on private aircraft when he travels, whether it's for work or for pleasure. In 2017, Cook received a previously disclosed $89 million stock payout as part of a welcome package dating back to 2011.

Leave Your Comment

Leave Your Comment


Latest News

Breaking News



Recommended

Virgil van Dijk will be at Anfield for Liverpool vs Leicester

However, the Merseysiders would have to do without the Dutchman when Leicester City visit Anfield on Saturday. With title hopes looking dashed, Jurgen Klopp's men occupy fourth spot which is the more realistic target.

Liverpool Prospect Reveals The Disgusting Racist Abuse He Suffered This Year

Liverpool's Rhian Brewster has opened up about the racial abuse he suffered in a youth game with Spartak Moscow in December.

More Rollovers: Mega Millions and Powerball jackpots total almost $700M

There hasn't been a Mega Millions jackpot victor since before the October 31 change of odds, a string of 21 straight drawings. Almost $700 million in lottery jackpots will be up for grabs, starting with Friday night's Mega Millions drawing.

Status Orange weather alert issued as storm Dylan advances

The current outlook for Monday is much the same, with a mix of sun and showers and temperatures of around 5 to 8 degrees. From Sunday, New Year's Eve, the weather will ease up to a calmer breeze, with a mix of showers and spots of sunshine.

Luann de Lesseps to Check into Alcohol Treatment Center After Arrest

While being arrested , de Lesseps allegedly continued to yell, "I'm going to f--ing kill you" while police got her under control. De Lesseps and D'Agostino are now divorced after tying the knot in Palm Beach on New Year's Eve last year.

Ten dead in church attack near Cairo, attacker killed

Police later cordoned off the crime scene as onlookers crowded around the church, while a forensics team combed the area. Two gunmen opened fire on worshipers in a Coptic church in the Helwan City district south of Cairo on Friday.

Beyoncé and JAY-Z confess all in video teaser for "Family Feud"

He also said his painful childhood has affected who he is today, including how he behaves with women. In November, JAY-Z opened up about cheating on Beyonce in an intimate Q&A with The New York Times .

Stock that will multiply your investment: Cognizant Technology Solutions Corporation (CTSH)

It increased, as 43 investors sold LMT shares while 356 reduced holdings. 54 funds opened positions while 136 raised stakes. Ameritas Ptnrs Inc has invested 0.08% of its portfolio in Cognizant Technology Solutions Corporation (NASDAQ: CTSH ).

Gal Gadot to Present at 2018 Golden Globes

The women protesting Hollywood's culture of sexual harassment at the Golden Globes won't have to stand alone. It's not the only way awards hopes to address the conversation of sexual misconduct in Hollywood .

Tesla to make pickup truck after Model Y crossover

Am dying to build it, "stated Elon Musk in a tweet posted on 26 December replying to Twitter user Vancouver Seed Bank". He went on to note that he's had the concept for the pick-up truck done in his mind for almost five years.