Apple boosts pay for Tim Cook

Apple boosts pay for Tim Cook

A year after delivering an unusual pay cut, Apple Inc. gave Chief Executive Tim Cook and other top executives a big boost in compensation for fiscal-year 2017 as the company exceeded annual sales and profit goals, according to a security filing on Wednesday.

Cook's "other" pay included $224,216 in security expenses and $93,109 for personal air travel. In 2016, missed targets meant Apple execs got only 89.5 per cent of their potential cash incentive payouts for the year.

While better sales is good news for Apple, which saw sales decline for the first time previous year, the company thought it also means Cook's security could be at risk. The company requires the CEO to use corporate flights for security reasons.

APPLE'S CEO Tim Cook has been forced to take up a company perk by flying in style. Cook's earnings increase came largely from a boost in incentive pay; he earned $5.4 million past year.

So the iPhone maker now wants Cook to fly private for "all business and personal travel", it said in the filing.

The Boxing Day curse: Burnley to give Manchester United nightmares again?
Mata equalised on 40 minutes with a precise finish, rolling the ball into the far corner from the middle of the box. We get a point but it feels like a defeat because we were so close to winning and we had a chance to kill the game.

Cook and other Apple board directors, such as Disney CEO Bob Iger, former U.S. Vice President Al Gore and former Northrop Grumman CEO Ron Sugar, are up for election to remain on the board another year.

Mr Cook became Apple's chief executive after Steve Jobs resigned in 2011 and shares in the company have more than tripled under his watch.

Apple's stock (NASDAQ:AAPL) has been on the climb since the beginning of 2017, which is in line with the NASDAQ composite, the index of the market for which Apple is traded, for the year.

Cook was previously criticized by fans and critics for Apple's lack of innovation over the last couple of years. With that said, Apple does make $151 more than Samsung, the next top performer, for every unit sold.

Since then, demand for Apple's newer iPhone models has been strong, and the company has gotten continued traction from its services division, which includes Apple Pay, AppleCare and digital content.

Related Articles

  • Library of Congress Blog

    Library of Congress Blog

    The collection as a whole will remain under embargo "until access issues can be resolved in a cost-effective and sustainable manner".
    Montgomery County Council OKs property tax prepayment in emergency vote

    Montgomery County Council OKs property tax prepayment in emergency vote

    Many state residents are scrambling to pay their taxes before a $10,000 cap on state and local tax deductions goes into effect. The limit also covers state and local income and sales taxes , but the bill prohibits people from prepaying those taxes.
    Phoenix police shoot armed man after he charges at them

    Phoenix police shoot armed man after he charges at them

    Phoenix police say they opened fire and fatally wounded a man armed with a knife after he charged at them. After a brief exchange of gunfire, police were able to secure the area and take the suspect into custody.
  • When Harry Met Barack: Obama Tells Prince About Life After White House

    Asked by Harry about what he would do now, Obama answered, "The things that are important to me haven't changed". Harry was also asked about his wedding - and whether Obama would get an invite.
    Israel plans to name East Jerusalem train station after Donald Trump

    Israel plans to name East Jerusalem train station after Donald Trump

    Trump's "blackmail" had little effectiveness - 128 countries voted against the controversial decision, and 35 abstained. It was the second time that the pope has spoken out publicly about Jerusalem since Trump's decision on Dec.6.
    Briton Laura Plummer jailed in Egypt on drug charges

    Briton Laura Plummer jailed in Egypt on drug charges

    They said she did not try to hide the medication and initially thought it was a joke when she was pulled up by officials. Sister Jayne Synclair told the Mirror : "If she ever makes it out of there, I will be amazed".
  • Crystal Palace vs Arsenal Preview

    Crystal Palace vs Arsenal Preview

    Sanchez scored twice to give Arsene Wenger's men a comfortable lead, before James Tomkins headed in a late consolation. At that point Palace were in the ascendancy but Sanchez's quick double soon killed off the home side's hopes.
    Khloe Kardashian Just Revealed How Far Along In Her Pregnancy She Is

    Khloe Kardashian Just Revealed How Far Along In Her Pregnancy She Is

    On Saturday, Koko, who is expecting her first child with boyfriend Tristan Thompson , was photographed at LAX and later shopping at Polacheck's Jewelers in Calabasas.
    Plane makes U-turn for carrying wrong passenger

    Plane makes U-turn for carrying wrong passenger

    The Tokyo-bound flight, NH175, was interrupted on behalf of a single mixed-up passenger, who had boarded the incorrect flight. A Twitter user named Raffy snapped a selfie with Teigen and Legend and posted it as his first-ever tweet.
  • Donald Trump savages Vanity Fair for saying sorry to Hillary Clinton

    Donald Trump savages Vanity Fair for saying sorry to Hillary Clinton

    Carter has been a critic of Trump's for many years, calling him a "short-fingered vulgarian" in the 1980s. Or as one person in the video suggested, "literally anything that'll keep [her] from running again".
    Snapchat Plans to Implant Its Video Stories Everywhere Online

    Snapchat Plans to Implant Its Video Stories Everywhere Online

    Chopra was the former Vice President and global head of video and News Corp , a multinational mass media company based in the US. These videos which are curated via algorithms and Snap employees cover everything from breaking news videos to sports games.
    Roy Moore Asks Alabama Court to Block Election's Certification

    Roy Moore Asks Alabama Court to Block Election's Certification

    Jones said in a statement that he looked forward to going to work for the people of Alabama in the new year. Odd lost the Republican primary to former Alabama Supreme Court Justice Roy Moore .