• 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

  • Anti-government protests erupt in Iran

    Anti-government protests erupt in Iran

    Protesters also waved banners denouncing Iran's interference in the Arab region, chanting "forget about Syria, think about us". "But towards the end, baton-wielding police attacked the crowd from both sides of the street and arrested some people".
    Liverpool Prospect Reveals The Disgusting Racist Abuse He Suffered This Year

    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.
    Victims of Troy Quadruple Homicide Are Named by Police

    Victims of Troy Quadruple Homicide Are Named by Police

    WHY?!?" "Please keep the Coleman family in your prayers". "Our hearts are shattered". She wrote: "They murdered my handsome little cousin and 2 of her lovely babies...
  • Colts QB Andrew Luck optimistic despite nagging shoulder injury

    Colts QB Andrew Luck optimistic despite nagging shoulder injury

    The Colts (3-12) have certainly struggled this season without Luck as they sit at the bottom of the AFC South standings. He attempted to come back during the season but was shut down when his shoulder didn't respond after light throwing.
    Another Arctic blast ahead of for the New Year

    Another Arctic blast ahead of for the New Year

    According to weather.gov , patchy freezing fog could develop once again overnight leading to slick roads, bridges and overpasses. It's important to note that significant adjustments may be necessary with this forecast for both temperatures and precipitation.
    Ulysses Wilkerson's Brutal Beating Leads To Investigation Of Alabama Police Department

    Ulysses Wilkerson's Brutal Beating Leads To Investigation Of Alabama Police Department

    Williams said police haven't shown the footage to her or her family and haven't spoken to them since her son was hospitalized. According to police, Troy officers saw the teen walk from behind a closed downtown business just before midnight on Saturday.
  • First Supermoon Of 2018 Happens On New Year's Day

    First Supermoon Of 2018 Happens On New Year's Day

    Finally, the supermoon, or second full moon of the month, will take place the night before the second full moon on January 30. January's supermoons will be just the latest in a spate of supermoon events taking place in close succession.

    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 ).
    Unemployment rate in all 55 West Virginia counties increase in November

    Unemployment rate in all 55 West Virginia counties increase in November

    Indiana's unemployment rate stands at 3.7 percent for November and remains lower than the national rate of 4.1 percent. Much of the job growth over the past year was in manufacturing (+150 jobs) and leisure and hospitality (+60 jobs).
  • Virgil van Dijk will be at Anfield for Liverpool vs Leicester

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

    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.
    Health officials urge people to get flu vaccine

    Health officials urge people to get flu vaccine

    A rapidly developing flu season leaves experts predicting that the coming months will be tough for anyone in the line of fire. It also maintains that an annual flu vaccine is the the first and most important step in protecting against flu viruses.
  • 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

    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.
    Gal Gadot to Present at 2018 Golden Globes

    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 .
  • Prince Harry Opens Up About Meghan Markle's First Royal Christmas

    Prince Harry Opens Up About Meghan Markle's First Royal Christmas

    And Meghan's brother isn't the only family member who has a word or two for Prince Harry because her half-sister, Samantha Markle, is also not happy with him.
    Worst NY fire in decades kills 12 in the Bronx

    Worst NY fire in decades kills 12 in the Bronx

    Authorities said firefighters rescued 12 people from the building and four people were in the hospital in critical condition. A dozen people are dead after a fearsome fire swept through an apartment block in Little Italy late Thursday night.
    Sensex pierces 34000, Nifty 10500-mark for first time

    Sensex pierces 34000, Nifty 10500-mark for first time

    There was support from all sectoral indices, driven by technology and oil and gas, with gains of up to 0.90 per cent. Mid-cap and small-cap indices continued to be on investors' radar and they ended in the green.

Breaking News



Recommended

Rides on RTD buses, trains to be free on New Year's Eve

Partygoers can ride Brampton Transit for free December 31 after 7 p.m. until the end of service. Capitol Hill Station and the rest of the line operates 5 AM to 1 AM on weekdays and Saturdays.

Donald Trump Terminated All Remaining Members of the HIV/AIDS Council

The White House has reportedly fired the members of the Presidential Advisory Council on HIV/AIDS (PACHA) without explanation. Almost a year into Trump's presidency, the White House has yet to appoint a director of the Office of National AIDS Policy.

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.

Fatal Kan. officer-involved shooting during false report of hostage situation

Katherine Clark, a Massachusetts Democrat, introduced an anti-swatting bill in 2015 — then was herself the victim of swatting. A door leading from the kitchen to the side yard was open, she said. "What gives the cops the right to open fire?" she asked.

Mueller Probe Questioning RNC Staffers on Trump Campaign

As time moved on, Trump gained in the polls and eventually rode that momentum to a GOP primary victory. Nearly unbelievably, several people attacked the New York Times for not asking him "hard" questions.

Russian Federation confirms missile defense system sale to Turkey

In November, Turkey signed a letter of intent with France and Italy to strengthen cooperation on joint defense projects. Turkish newspapers report Erdoğan plans to pay 45% up front and borrow the rest in loans from Russian Federation .

Netflix's 'Bright' left around 60 makeup artists out of the end credits

The team of makeup artists who worked on Will Smith's freakish buddy cop fantasy film Bright were mysteriously left uncredited. Will Smith's character gets paired up with the LAPD's first orc cop, played by Joel Edgerton .

Is NBC Bringing Back Mad About You!?

At that time, he mentioned being open to an empty-nest plotline, noting, "It's like that moment when you get married. Reiser, who was the co-creator of the original series, is spearheading efforts to revive the show for a limited run.

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.

Driver suspected of shooting at police flips SUV on I-95

The Stafford deputy suffered a minor injury when a bullet penetrated the windshield, according to VSP officials. No additional law enforcement or other drivers were injured in the incident, which is under investigation.