Tim Cook takes big paycut in 2012

Thu, Dec 27, 2012


The Next Web reports:

Consumer electronics giant Apple today filed documents with the SEC in preparation for its annual shareholder meeting, which will be held at the company’s HQ on Wednesday, February 27, 2013.

According to the filing, Apple CEO Tim Cook’s compensation totaled a mere $4,174,992. That may seem tiny, considering Apple’s $480 billion+ market cap, but there’s a reason for it.

When Cook was appointed CEO in August 2011, Apple’s board granted him 1 million in restricted shares (RSUs) as a promotion and retention award (worth about $376 million at the time).

Fifty percent of that award is scheduled to vest on August 24, 2016, and the other fifty percent on August 24, 2021.


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