Apple’s CEO Tim Cook’s Pay Dropped By $370?is it his poor performance


Apple shares have considerably droped since touching the peak in September. However, in other areas Apple has done well in year 2012. This can be reflected by handsome salary packages that have been increased in the year 2012 awarded to most of senior executives. The only exception here is Chief Executive Tim Cook.

Tim cook salary

Technologies chief Robert Mansfield, CFO Peter Oppenheimer, operations head Jeffrey Williams and general counsel Bruce Sewell each bring home over $68 million compensation in year 2012 while Tim Cook hardly $4.2 million.

Is this means poor performance by Apple boss Tim cook? Hardly so because when Cook got promotion to CEO in August 2011 after Steve Jobs stepped down he was granted 1 million stock units with a 50 / 50 vesting schedule 5 and 10 years after the grant date.

Tim Cook was not allowed RSU award in year 2012, that’s why his compensation dropped to $4.2 million from $378 million in year 2011, although Apple easily surpassed the performance goals set for executives.
Net sales of $156.5 billion are well over the target of $135.5 billion and max incentive level of $140 billion with operating profit of $55.2 million. Apple’s performance enriched fellow senior executives in year 2012 but did little to make Cook wealthy.

Apple’s share dipped by 0.6 percent to $510.15 Thursday. The overall stock is below 27 percent from its September peak of $705.07.