Apple CEO Tim Cook takes a $35 million pay cut in 2023 - GSMArena.com news - GSMArena.com

Apple posted its proxy filing connected the 2023 Annual Meeting of Shareholders and the 113-page study reveals that CEO Tim Cook is getting a wage simplification successful 2023. It amounts to $35 cardinal - the apical enforcement volition gain $49 million, down from $84 cardinal past year.

His basal wage of $3 cardinal and the yearly currency inducement of $6 cardinal stay unchanged, with the large quality coming from an accommodation of his equity grant value. The different 4 elder enforcement officers astatine Cupertino did not person a slash successful their wage oregon incentives.

Tim Cook astatine the motorboat of iPhone 14 series. Image source: Twitter

The equity grant worth of Tim Cook for 2022 was $75 million, portion this calendar year, it volition beryllium $40 million. However, helium mightiness inactive marque much than the forecasted amount, depending connected Apple’s banal price.

The wage chopped was suggested by Cook himself “in airy of the feedback received”.

The institution is inactive expected to motorboat a mixed-reality headset that has been rumored for a agelong time, and the Project Titan car is inactive wishful reasoning much than thing else. Cupertino is not letting spell of immoderate employees for present though, dissimilar competitors Meta, Twitter, and Amazon, who person announced layoffs.

Source | Via