Tim Cook 2021 Pay Totals Over US$98 Million

Apple CEO Tim Cook has earned pay of US$98,734,394 for the company’s fiscal 2021 (September 2020 – September 2021), according to an SEC filing from Thursday. As CNBC noted, this sum does not include shares valued a US$754,000,000 from a previous grant that vested in August. It companies to the median compensated Apple employee’s compensation of US$68,254.

Tim Cook Pay More Than US$98 Million For 2021

Mr. Cook’s 2021 pay is broken down as follows:

  • Basic salary of US$3 million
  • Bonus of US$12 million for hitting financial and environmental sustainability goals
  • Other compensation, covering items like security, travel, 401(k) plan, life insurance, vacation cash-out totaling nearly US$1.39 million.
  • Stock awards worth US$82.35 million

The Apple CEO has pledged to donate his wealth to charity and has already made significant moves in this direction. The SEC filing noted:

Out product net sales grew 35% year-over-year with an all-time product net sales record of $297.4 billion. Our services business grew 27% year-over-year with an all-time services net sales record of $68.4 billion. We also continued to advance each of our values and key community initiatives, including expanding our Racial Equity and Justice Initiative and education initiatives and taking new strides toward reaching our 2030 carbon neutral goal across our entire business, manufacturing supply chain, and product life cycle.

It also praises Mr. Cook’s decade at the top of Apple:

In 2021 we marked the 10th anniversary of Tim Cook’s leadership as CEO. It’s been a remarkable decade for Apple and in 2021 Mr. Cook was granted an equity award for the first time since he was promoted to CEO in August 2011.

Other Apple Top Earners

Following Mr. Cook in the exec high pay list is Senior Vice President, Retail + People Deirdre O’Brien. She earned a total of US$25,020,811. Fellow execs Luca Maestri (CFO), Kate Adams (General Counsel), and Jeff Williams (COO) all earned just under $US27 million.

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