“Given that CEO Cook will be eligible for retirement treatment after one year from the date of award, the retention value of the award is limited.” “A vote AGAINST this proposal is warranted, due to concerns about the design of equity awards and the magnitude of compensation. “Half of the award lacks performance criteria and the proxy does not indicate that the award will cover future years of awards despite its large size,” he continued. Institutional Shareholder Services (ISS) said in the report that “there are significant concerns regarding the design and magnitude of the equity award made to CEO Cook in FY21.” ) – a massive jump from 2020’s relatively paltry $14.8 million (A$20,592,734).īut not everyone is thrilled with Mr Cook’s tantalizing payday, with a shareholder rights group slamming the plan in a report this week.
This is in addition to his annual salary of $3 million (AU$4,174,203) and other compensation, which means his total salary for 2021 is $98.7 million (AU$137,331,278). “It just shows you how far Apple has come and how dominant it is seen in the eyes of the majority of investors.”įollowing these astonishing results, Apple revealed in a filing with the Securities and Exchange Commission earlier in 2022 that Mr Cook, 61, was to mark $82.3 million (A$114,512,302) in shares. “It’s a fantastic achievement and certainly worth celebrating,” Longbow Asset Management CEO Jake Dollarhide told Reuters at the time. In January, Apple – which has been the world’s most valuable company for several years now – hit another milestone after hitting a record market value of $3 trillion, with investors confident that this incredible streak will continue as shoppers are scrambling to get their hands on iPhones, MacBooks and other products and services.ĭeliver more financial news live and on demand with Flash, a dedicated news delivery service. With a fortune of 3.2 billion Australian dollars under his belt, Apple CEO Tim Cook is one of the richest people on the planet.īut a plan to reward him for the tech giant’s incredible success – to the tune of A$137 million – has sparked outrage from shareholders.