Per Editor: Du Yu
According to the Financial Associated Press on January 7, Apple's shareholder power of attorney filed with the U.S. Securities and Exchange Commission on Thursday showed that Apple CEO Tim Cook's total compensation in 2021 is $98.7 million (about 630 million yuan).
Video screenshot: Shell Finance
It is worth noting that 2021 is also Cook's tenth year as CEO of Apple.
Cook's base salary for 2021 is $3 million, equity-based rewards are $82.35 million, non-equity incentive compensation is $12 million, and other compensation is $1.39 million, the documents show. Due to the lack of stock incentives before, Cook's salary totaled $14.77 million in 2020 and $11.56 million in 2019.
The $82.35 million stock award is restricted and will be progressively cashed out, including $44.85 million in performance stock awards and $37.5 million in tenure stock awards, according to the documents.
Other compensation for Cook's $1.39 million includes $17,000, $0.3 million in term life insurance premiums under the 401(k) plan, $23,000 in vacation expenses, $630,000 in security costs, and $710,000 in personal air travel expenses. For safety reasons, Apple has required Cook to travel by private jet on all business events and personal travel since 2017.
Other Apple executives, including Luca Maestri, senior vice president and chief financial officer; Kate Adams, senior vice president, general counsel and secretary of legal affairs; Deirdre O'Brien, senior vice president, retail and people, and Jeff Williams, chief operating officer, each received more than $26 million in compensation.
According to the documents, Apple's revenue and operating profit for the fiscal year ended September 25, 2021, were $365.8 billion and $108.9 billion, respectively, up 33% and 64% year-on-year, hitting record highs.
In the secondary market, as of Friday's close, Apple was quoted at $172 per share, with the latest market capitalization of $2,821.9 billion.
Daily Economic News Integrated Finance Associated Press, The Paper, Shell Finance
Daily economic news