Apple Inc. said in a regulatory filing late Thursday that Cook’s target total compensation is $49 million for 2023, with a $3 million salary, $6 million cash incentive and $40 million in equity awards.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Apple said its compensation committee took into account shareholder feedback, the company’s performance and a recommendation from Cook, who was promoted to CEO in 2011, to adjust his compensation in light of the feedback received. Apple said last year it sought feedback from shareholders about compensation and it received “overwhelming support for Mr. Cook’s exceptional leadership and the unprecedented value he has delivered for shareholders….Those shareholders we spoke with that did not support our 2022 Say on Pay proposal consistently cited the size and structure of the 2021 and 2022 equity awards granted to Mr. Cook as the primary reason for their voting decision,” the company said.
Cook has received a $3 million base salary for the past three years, but his total compensation — which includes the restricted awards — jumped from $14.8 million in 2020 to $98.7 million in 2021 and $99.4 million in 2022.
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