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Apple CEO Cook Gets $377 Million Comp Package

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By Douglas A. McIntyre Published
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Tim Cook, Apple’s (NASDAQ: AAPL) new CEO has received a $378 million compensation package, according to the firm’s proxy statement. Cook’s compensation the prior year was $59 million.

Cook has been instrumental in the operation of Apple since founder Steve Jobs became ill. Cook was made CEO just before jobs died.

Last year, Apple became the top company in the world based on stock market value.

Apple disclosed the package all of it stock awards beyond a $900,000 base salary. The compensation consists of 1 million RSUs (restricted stock units). Each has a value of approximately $400. The value was set based on Apple’s share value at the close of market on August 24, 2011

This RSU award is scheduled to vest 50% on August 24, 2016 and the remaining 50% on August 24, 2021, provided that the officer continues to be employed with the Company through the vesting date.

Apple shares have recently traded near all-time highs

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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