From $84 million to $49 million
Apple cuts CEO Tim Cook's pay by more than 40% in 2023
Tech giant Apple has cut CEO Tim Cook's pay by more than 40%, citing investor guidance and Cook's own request for a salary adjustment.
The company revealed in a regulatory notice issued yesterday that it will lower Cook's pay target to $49 million in 2023 from $84 million in 2022.
As part of the changes, the percentage of stock units granted to Cook that are tied to Apple's performance will increase to 75% in 2023 from 50. percent, as well as in future years, the company said in the notice.
In 2022, Cook received a total pay of $99.42 million, including base salary, stock awards and incentives, compared to $98.73 million earned in 2021 and $14.77 million in 2020.
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