Tim Cook sees his pay take a 47 percent jump compared to last year.
It's been a good year to be Tim Cook.
Apple's CEO, who helped the company launch what has now become a wildly successful step into the world of "premium smartphones" with the iPhone X, has reportedly seen his pay go up as a result - way up.
As per Billboard, Cook saw his annual pay amount increase 47 percent over the previous fiscal year, ballooning from $8.7 million to $12.8 million. His pay package is a complex one, including a base salary of $3.1 million, $9.3 million in non-equity incentive pay (which is up from $5.4 million in this category the year before) and an additional $440,374 in "other" compensation, though it is not specified exactly what that payout was for. However, part of that "other" compensation was for private air travel, since Apple only has Cook go to and from different cities on corporate charters for security reasons.
"Apple was above its target performance goals for both net sales and operating income, resulting in a payout of each named executive officer’s annual cash incentive," the company's filing said. It was part of a public disclosure of how much Cook and the next four highest-paid execs over at Apple got paid this year. Interestingly, Eddy Cue, Apple's Senior VP of Internet Software and Services, was not on the list, despite earning close to $23 million in compensation during the past fiscal year.
Did you cop any new Apple gear - smartphone, computer, tablet, watch, etc. - as a holiday gift? Or were you generous and made someone else's day with an iPhone present? Let us know in the comments section.