Last yr it used to be reported that apple CEO Tim Cook would take a pay lower for the yr 2023. Now, at its annual shareholder assembly, Apple has showed that Cook would certainly be taking a pay lower.
How a lot wage will cook dinner earn
In a proxy observation filed by way of Apple, it used to be printed that Cook’s goal repayment in 2023 could be $49 million in 2023. This is round 40% not up to what the Apple CEO earned in 2022. a discount of over 40% from his 2022 goal repayment general. Taking under consideration Apple’s comparative dimension, scope, and function, the Compensation Committee additionally intends to place Mr Cook’s annual goal repayment between the eightieth and ninetieth percentiles relative to our number one peer staff for years yet to come,” Apple said in the proxy statement filing.
It was noted that Cook had himself recommended the pay cut to the Compensation Committee at Apple, At the beginning of every fiscal year, it is the Compensation Committee which makes all the decisions related to compensation. “The results of the 2022 Say on Pay advisory vote led to broader shareholder engagement on executive compensation in 2022 of approximately 53% of institutional shares held. The Compensation Committee balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr Cook to adjust his compensation in light of the feedback received,” the corporate additional stated.
Cook had a goal repayment of $84 million in 2022. For 2023, the $49 million repayment features a base wage of $3 million and a $6 million annual money incentive. Both those parts stay unchanged from 2022. Apart from that Cook stands to get an fairness award worth of $40 million, which used to be $75 million in 2022.
How a lot wage will cook dinner earn
In a proxy observation filed by way of Apple, it used to be printed that Cook’s goal repayment in 2023 could be $49 million in 2023. This is round 40% not up to what the Apple CEO earned in 2022. a discount of over 40% from his 2022 goal repayment general. Taking under consideration Apple’s comparative dimension, scope, and function, the Compensation Committee additionally intends to place Mr Cook’s annual goal repayment between the eightieth and ninetieth percentiles relative to our number one peer staff for years yet to come,” Apple said in the proxy statement filing.
It was noted that Cook had himself recommended the pay cut to the Compensation Committee at Apple, At the beginning of every fiscal year, it is the Compensation Committee which makes all the decisions related to compensation. “The results of the 2022 Say on Pay advisory vote led to broader shareholder engagement on executive compensation in 2022 of approximately 53% of institutional shares held. The Compensation Committee balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr Cook to adjust his compensation in light of the feedback received,” the corporate additional stated.
Cook had a goal repayment of $84 million in 2022. For 2023, the $49 million repayment features a base wage of $3 million and a $6 million annual money incentive. Both those parts stay unchanged from 2022. Apart from that Cook stands to get an fairness award worth of $40 million, which used to be $75 million in 2022.