Apple Inc. CEO Tim Cook to earn $4.25M this year

Nathan Andrada – Fourth Estate Cooperative Contributor

Cupertino, CA, United States (4E) – Apple Inc. Chief Executive Tim Cook’s salary and bonus for the fiscal year ended Sept. 28 changed very little from a year ago, according to the Cupertino, California-based company in a filing with the U.S. Securities and Exchange Commission on Friday.

Cook’s compensation was at $4.25mn this year, increasing 1.9 percent from the previous year, even as the iPhone maker’s stock grew slower than the Standard & Poor’s 500 Index.

Apple named Cook, a 15-year veteran in the company, to run the company before his predecessor Steve Jobs died in 2011. That year, Cook’s compensation was at $378mn, among the largest pay packages on record, benefiting from the $376.2mn in stock awards that he will receive over a decade.

The 53-year old Cook is facing reduced profit margins and slowing sales growth at the company as rivals Samsung Electronics Co. and Inc. compete by selling lower-priced gadgets. After outpacing the S&P 500 for four consecutive years, Apple’s stock has increased 5.3 percent this year, which compared with the 29 percent growth for the index.

Cook’s deputies Peter Oppenheimer, Jeff Williams and Eddy Cue received lesser pay packages this year than in 2012, primarily due to the restricted stock units they were granted last year.

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