Apple's financial reports show that, including a "rare stock award," CEO Tim Cook was paid $98,734,394 in 2021, pushing his net worth above the $1 billion mark.
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As Apple's full SEC filing notes, 2021 was Tim Cook's tenth year as CEO. That meant he received a bonus due to an incentive plan that was set up when he took over from Steve Jobs in 2011.
This incentive plan involved limited stock units, with the number Cook would receive tied to Apple's overall performance. He earned the maximum possible amount — 560,000 shares — which translated to $89.2 million.
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Five million shares Cook owns vested in 2021, worth about $750 million. This is not included in his earnings figures. Overall, 2021 pushed Cook's net worth to over $1 billion.
Cook's base salary is $3 million, compared to $1 million for CFO Luca Maestri, general counsel Kate Adams, Retail + People's Deirdre O'Brien, and COO Jeff Williams. Each also received various stock awards and other unspecified compensation, meaning they earned about $27 million apiece.
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Apple's full report notes that the company does not "provide pensions or supplemental health or insurance benefits to executives.".
Information source: appleinsider.com
