To paraphrase Spider-Man"s Uncle Ben, with great power comes great compensation. Just ask Apple CEO Tim Cook, who pulled in a whopping $102 million in salary and other pay in 2017, according to a regulatory filing.
Oh, and the board also required him to take a private jet when he travels.
Cook"s salary for the year was a modest $3.06 million, with a $9.33 million incentive bonus, and an additional $89.2 million equity award. The incentive pay kicked in because of Apple"s increased revenue and net income over fiscal 2016, while the equity award is based on staying with the company coupled with measuring how Apple performs against other S&P 500 companies.
One of the more interesting tidbits from the filing was that Cook ran up a $93,109 tab flying on private jets for non-business related trips. Security for him worked out to about $224,216. In light of his high profile, the Apple board implemented a private jet policy for their top execs this year, and required Cook use it for all his personal and business travel this year. The board felt it improves security for Cook and his team.
As for other top execs in the company, they earned a total of $24.2 million, which included $3.11 million in incentive bonuses. One of those listed execs was not Jony Ive, who shifted back to his former role as head of the Apple design team earlier this month.
Source: Bloomberg