While Apple CEO’s salary has been $3 million since 2016. However, most of the CEO’s compensation is performance-based. For instance, in 2022, while the salary of Tim Cook was $3 million, he had total compensation of over $99 million, which comprised stock awards and other incentives and bonuses.
Take 2022, where for instance, Tim Cook still got a $3 million base salary, and the total target compensation (based on performance) was $84 million.
This was based, for instance, on much better Apple stock performance than the S&P 500 Index.
The same pattern is followed for other top executives.
Take the case of Luca Maestri, CFO of the company, which earned $1 million in base salary in 2022.
With an annual incentive of $2 million in the same period.
And a $20 million award mix, which is given to the top executive team for the company’s long-term performance.
The long-term packages are time-based and are usually vested in a few years.
- Apple CEO Compensation: Apple’s CEO, Tim Cook, has a base salary of $3 million since 2016, but the majority of his compensation is performance-based. In 2022, his total compensation was over $99 million, including stock awards and other incentives and bonuses.
- Performance-Based Compensation: The CEO’s total target compensation in 2022 was $84 million, which was based on the company’s performance, such as Apple stock outperforming the S&P 500 Index.
- Other Top Executives: Similar to the CEO, other top executives also receive performance-based compensation. For example, Luca Maestri, the CFO of Apple, earned a $1 million base salary and a $2 million annual incentive in 2022.
- Long-Term Performance Awards: Top executive teams, including the CFO, receive long-term performance awards, which may total millions of dollars. These packages are time-based and vest over a few years.
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