Business: Apple’s CEO Tim Cook sees pay package increase 22%

Apple’s CEO Tim Cook saw his remuneration increase 22 percent in 2018, to a total USD 15.7 million, according to company filings with the SEC. The amount has nearly double compared to the USD 8.7 million received in 2016.

Cook’s basic salary is USD 3 million, on top of which he received USD 12 million in bonuses and USD 680,000 in compensation for expenses.

The bonus is based on Apple’s results in fiscal 2018, which the company said exceeded the original targets.

The pay-out is based on Apple’s past fiscal year, so does not take account the recent sales warning for the December quarter, which is the first quarter of a new fiscal year for the company.

Credit: Telecompaper

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