Tim Cook gets a compensate lift amid improved iPhone profits


Apple CEO Tim Cook chats with attendees of a iPhone X event.

James Martin/CNET

Apple gave a CEO a income strike as sales and distinction picked adult this year.

Tim Cook perceived a sum of $12.8 million, an boost of 46 percent from last year when gain fell, according to a regulatory filing on Wednesday. Adding $89.2 million in equity award, Cook brought home a whopping $102 million in 2017, reduction compensations.

The news comes as Apple brought home almost 60 percent of profits generated in a tellurian smartphone shred in a final quarter, according to Counterpoint Research, nonetheless sales were especially increasing by an increasing approval of a comparison iPhone models. With that said, Apple does make $151 some-more than Samsung, a subsequent tip performer, for any section sold. It could have done even some-more this entertain given it coincides with a launch of Apple’s anniversary phone, joined with increasing sales this holiday deteriorate — analysts pronounced six million iPhone Xs were sold over Black Friday.

While improved sales is good news for Apple, that saw sales decrease for a initial time final year, a association suspicion it also means Cook’s confidence could be during risk. So a iPhone builder now wants Cook to fly private for “all business and personal travel,” it pronounced in a filing. Cook isn’t a initial Apple CEO to use a private jet for atmosphere travel. The late Steve Jobs was means a Gulfstream V aeroplane by a Cupertino-based association that he co-founded “in approval of his use to a company” some-more than a decade ago.

Apple doled out rewards to other tip executives besides Cook, too. Although any chairman perceived $1 million bottom income compared to Cook’s $3 million, they saw a boost that brings their sum payout to around $24.2 million each.

“Our executive remuneration module is designed to prerogative opening in a elementary and effective way,” pronounced Apple in their shareholders and proxy statement. “It reflects a forlorn size, scope, and success of Apple’s business and a significance of a executive officers handling as a high-performing team, while focusing on pivotal measures of profitability and a origination of shareholder value.” 

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