Apple Inc (NASDAQ:AAPL) has revealed the dollar amount CEO Tim Cook took home in 2021.
What Happened: Cook, 61, who has been at the helm of the iPhone maker since August 2011, was previously the company’s chief operating officer since October 2005.
While Cook’s base salary through 2019 and 2021 has remained $3 million, the non-equity incentive compensation plan, stock awards, and all other compensations paid to the executive have seen an increase in the period, according to a proxy statement filed by Apple with the U.S. Securities and Exchange Commission.
Cook was paid stock awards amounting to $82.35 million in 2021. Together with these awards, the total compensation he took home amounts to $98.7 million.
In 2020, Cook took home $14.7 million, which means his pay packet saw an impressive six-fold gain in 2021.
Other high earners at Apple include CFO Luca Maestri, General Counsel and Secretary Kate Adams, Senior Vice President for Retail and People Deirdre O’Brien.
Maestri, Adams, and O’Brien were paid nearly $27 million each in 2021. Apple Chief Operating Officer Jeff Williams scored a similar amount for the period.
See Also: How To Buy Apple (AAPL) Shares
Why It Matters: In August 2021, Apple revealed in an SEC filing that Cook was paid the final part of a compensation package dating back to the time he took over the company as CEO.
That compensation tranche, comprised of 5 million Apple shares, was worth $750 million at the time. This amount was not included in Thursday’s filing.
This month, Apple became the first company to touch a market cap of $3 trillion with Apple shares rising 35% in 2021. The growth of Apple was underpinned by strong sales of the iPhone, its flagship smartphone.
In 2020 when Apple became a $2 trillion company, Cook became a billionaire.
Cook’s ownership of Apple has been incremental unlike company founders such as Tesla Inc (NASDAQ:TSLA) CEO Elon Musk and Meta Platforms Inc (NASDAQ:FB) CEO Mark Zuckerberg.
Price Action: On Thursday, Apple shares fell almost 1.7% to $172 in the regular session and rose 0.5% in the after-hours trading.
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