.tim_cook takes 40% pay cut as Apple CEO
Cook's pay cut, laid out in a Wednesday SEC filing, is"responsive to shareholder feedback, while continuing both to align pay with performance and to recognize Mr. Cook’s outstanding leadership,” according to the filing. He also personally recommended the decrease."Taking into consideration Apple’s comparative size, scope, and performance, the Compensation Committee also intends to position Mr.
Last year Cook earned $99 million, a slight increase from his 2021 salary of $98.73 million, estimated to be more than six times larger than his pay of $14.8 million received in 2020.This comes a week after Gov. Gavin Newsom signed Senate bill 1162 to address disparity in wages for women, making California the second state behind New York to require salary transparency. The law applies to companies with more than 15 employees.
Apple saw record revenue of $90.1 billion, up 8% year over year, in its most recent quarterly financial report. Annual revenue was $394.3 billion, which was an increase of 8% year over year, and annual earnings per diluted share were $6.11, up 9% year over year.
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