updated 11:14 am EST, Thu December 27, 2012
Lack of stock options cuts income 99 percent verus 2011
Apple CEO Tim Cook will take in $4.17 million in pay by the end of 2012, according to filings seen by Bloomberg. That breaks down into a $1.36 million salary, and another $2.8 million in incentives. Notably, Cook's compensation is well below the $378 million he was technically awarded in 2011; $376.2 million of that, though, was from a one-time stock grant, for which he won't see the full benefit unless he stays as CEO for a decade.
Although Cook's 2011 compensation made him the best-paid CEO in the US at the time, his pay has otherwise been more conventional than that of his predecessor, Steve Jobs. Jobs took home a salary of just $1, but made up for that through stock ownership.
Also observed in the new filings is that CFO Peter Oppenheimer's compensation for 2012 is $68.6 million. $66.2 million of that, however, is coming in the form of stocks. In contrast, last year his pay was $1.42 million.