Apple is one of the largest companies in the world and has recently managed to exceed its market value of 3 trillion dollars. Certainly, this growth that the American company has been experiencing for some time means that its management is successful and therefore, as we say in Egypt (you must be loved on one side), and for this we will learn about the amount of money that It was acquired by Apple CEO Tim Cook during the past year 2021.
Tim Cook entered in 2021
Apple CEO Tim Cook received about $98.73 million in compensation/bonus in the company's fiscal year 2021 according to a Securities and Exchange Commission (SEC) filing published Thursday. % and more than $33 billion in sales.
Here is Tim Cook's salary and how he gets it:
- $3 million in salary
- $12 million reward for achieving the company's goals
- $1.39 million for travel, insurance and protection
- $82.35 million in equity awards
The stock awards are part of a five-year award announced in September 2020 on the first day of Apple's fiscal year 2021, yet to be awarded and are divided into two parts as follows:
part One Of the grant, 333 Apple shares worth $987 million are due in three annual installments beginning in 37.5 and Cook can get those shares even if he retires before his time runs out.
part two From the grant is also the same number of shares, which is 333, but the grant here is based on performance and the number of shares that Cook receives can be doubled or decreased according to the value and performance of the share of the company and those shares will be due in October 987 and was worth 2023 million dollars and Tim Cook can also get On the shares even if he retires with that particular bonus, the company's Board Compensation Committee can stop it.
What Cook obtained in 2021 in shares does not include the 5 million shares he acquired in August of the same year, as those shares (worth up to $754 million) are the last part of a grant that began when he took over as Apple CEO 10 years ago, and so up Cook's salary this year increased to 1447 times the total average salary of an average Apple employee of $68254 (Apple does not provide pension, health or insurance benefits upon retirement).
How is Cook's salary calculated?
An Apple spokesman said that the company determined what Tim Cook would get by looking at several factors, including Apple’s size and performance, the role and performance of its CEO, as well as comparing Apple’s profits with companies like it, including, Alphabet (the parent company of Google), Microsoft, Amazon and Meta (the parent company of Facebook), and also added Apple and Tesla are with the companies we mentioned a while ago after their outstanding performance and great growth in the last period.
Finally, despite the millions that Tim Cook earns annually from Apple and entering the billionaire club with a fortune worth up to 1.5 billion dollars according to Fortune magazine, he announced several years ago that he plans to donate his fortune to charitable causes.