Tim Cook loses millions in compensation

Apple CEO Tim Cook saw a $4.3 Million drop in compensation. The Hollywood Reporter says that Apple executive all saw a drop in compensation due to target payouts.

The report says that in 2018, Cook was paid $12 Million in incentive based base and in 2019, he was only paid $7.7 million.

“In 2019, Apple’s performance exceeded the target performance goals for both net sales and operating income, resulting in a total payout of 128 percent of the target payout opportunity for each named executive officer,” Apple wrote in the filing disclosing executive compensation. The company’s stock grew by more than 88 percent in 2019. (The Hollywood Reporter).

Cook’s base pay is $3 million. He also gets almost $900,000 in other compensation including security protection services and use of a private jet. His total compensation for 2019 was $11.6 million.

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