Apple CEO Tim Cook Takes Steep Pay Cut, as Expected
January 11 2024 - 5:45PM
Dow Jones News
By Will Feuer
Apple Chief Executive was paid about $63.2 million in 2023, a
more than 36% drop from 2022, after the company decided to rework
its executive-compensation strategy following shareholder feedback
and a request from Cook himself.
Apple said early last year that Cook had asked for his target
compensation to be reduced to around $49 million.
Cook's base salary of $3 million has remained the same since at
least 2021. His stock awards, though, dropped to just under $47
million in 2023, down from about $83 million in 2022 and $82
million in 2021, according to the company's proxy filing, published
Thursday.
The company's other top officers, including Chief Financial
Officer Luca Maestri and Chief Operating Officer Jeff Williams, saw
their total compensation remain largely unchanged over the past
three years.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
January 11, 2024 17:30 ET (22:30 GMT)
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