Tim Cook’s bank account was replenished with $41 million after he sold 500,000 Apple shares – a reward for his achievements at the company.
According to GearRice, this information was confirmed by the US Securities and Exchange Commission, stating that the stock bonus for Tim Cook is determined based on the total profit brought to Apple shareholders compared to other companies. The S&P 500 differs between the first day of Apple’s fiscal 2021 and the last day of its 2023 fiscal year. According to the data, Apple ranked 141st out of 480 companies in the S&P 500
A report said that Tim Cook will receive 1/3 of the 73,000 additional restricted shares on April 1 of each year in 2026, 2027, and 2028. Although he is the CEO of the most valuable company in the world, Tim Cook is not the CEO with the highest income compared to his industry peers.
In 2021, Mr. Cook received a salary of $3 million, a bonus of $12 million, and an additional bonus in Apple shares of $82 million. That same year, he also received benefits including personal security and private jet expenses. In total in 2021, he earned nearly $100 million, although most of that money was in Apple stock. At the beginning of 2023, Tim Cook announced that he would reduce his salary by 40% due to the company’s disappointing financial results in the first 3 months of 2023. At that time, Mr. Cook said that his decision to accept a salary reduction was to share the burden with the company and its employees and demonstrate confidence in Apple’s ability to overcome current difficulties while remaining a leader in the technology industry