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Tim Cook Might Not Get His $99M Pay Packet

Apple shareholders are being urged to vote against a US$99 million pay package for its CEO Tim Cook.

The Institutional Shareholder Services is voicing “significant concern” to its clients regarding Cook’s 2021 remuneration.

Cook’s $98,734,395 total 2021 compensation includes salary, stock awards, non-equity incentive plan compensation, and “other compensation”.

Apple released a statement last month regarding Tim Cook’s hefty pay day.

“In 2021 we marked the 10th anniversary of Tim Cook’s leadership as CEO,” the statement read.

“It’s been a remarkable decade for Apple and in 2021 Mr. Cook was granted an equity award for the first time since he was promoted to CEO in August 2011.

“The structure of this award is better aligned with the performance-based and time-based RSUs awarded to our other named executive officers, while the amount recognises his exceptional leadership and is commensurate with the size, performance, and profitability Apple has achieved during his tenure.”

The decision on whether Cook will get his compensation will be made on March 4.

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