Apple CEO gets modest 2012 pay after big 2011

Dec 27, 2012 by Peter Svensson
Apple Chief Executive Tim Cook speaks during a special event at the California Theatre in San Jose on October 23, 2012 Enlarge
Apple Chief Executive Tim Cook speaks during a special event at the California Theatre in San Jose on October 23, 2012. Cook's total compensation for 2012 will plummet to $4.2 million from $378 million last year, according to a company document released Thursday.

Apple CEO Tim Cook got a relatively modest $4.2 million in pay for the latest fiscal year, after the company's board set him up with stock now worth $510 million for taking the reins in 2011.

Cook's pay for fiscal 2012, which ended in September, consisted of $1.4 million in salary, a bonus of $2.8 million, and $17,000 in company contributions to his 401(k) account and life insurance premiums, according to a filing.

Apple Inc.'s board saw no need to grant Cook additional shares in 2012 after the sign-on grant of 1 million shares in 2011. Half of those shares vest in 2016 and the other half in 2021.

Cook did vest into shares worth $140 million in 2012. Those shares were granted earlier, when he was .

Explore further: Apple CEO Cook gives up $75M in stock dividends

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Lurker2358
3 / 5 (2) Dec 27, 2012
Take a thousand people's investments, maybe even life savings equivalents, and just give it to one guy. Its what American corporations seem to be best at lately.

Whole damned country is governed by an aristocratic shadow government which preys on everyone else.

Congress and the courts are a joke. Apple can just buy votes any time they want, "Senator, we'll give you a million dollars and a free hooker if you vote our way!"
VendicarD
5 / 5 (2) Dec 28, 2012
Wow, he was given a half billion bucks just to take the job.

And it was all tax free since he doesn't realize any of those investments until they are cashed in.

Meanwhile Republicans in the U.S. think that it is better for them to push the U.S. economy back into recession and possibly depression than consider increasing taxes slightly on the fraction of this guy's income over 1 million.

That is why the Republican party is known as the party of Treason.

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