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Apple CEO Tim Cook's Annual Pay Jumps 47 Percent to $12.8 Million
January 22 2018, 02:09 | Alonzo Simpson
Apple's Tim Cook now only uses private jets to travel & gets massive bump in pay
Apple disclosed it spent $224,216 on security services this year to protect its CEO, and footed the bill for $93,109 in air travel expenses for his personal use of private aircraft.
Apple's chief executive Tim Cook has been ordered by the firm to use only private jets for both business and personal transport.
The tech giant's CEO had a compensation package totaling $12.8 million for 2017, an increase of 47% over previous year, according to Apple's annual proxy filing Wednesday with the SEC.
Well, that's what Apple CEO Tim Cook is required to do. This year, Apple shelled out an extra $244,216 for his security.
Apple gave its CEO a salary bump as sales and profit picked up this year. All told, Cook made $12,825,066 at Apple in 2017 - including a $16,200 contribution to Cook's 401 (k) retirement account from the company.
In the filing, the board also submitted the slate of eight nominees for reelection: Cook, Disney CEO Bob Iger, Al Gore, James Bell, Andrea Jung, Art Levinson, Ron Sugar, and Sue Wagner. The shareholder meeting will be held February 13, 2018, at the Steve Jobs Theater on Apple's new campus in Cupertino, Calif.