VOL. 128 | NO. 252 | Monday, December 30, 2013
Apple CEO's Compensation Rises Slightly to $4.3 Million
CUPERTINO, Calif. (AP) – Apple CEO Timothy Cook received a compensation package valued at nearly $4.3 million this year, up slightly from 2012.
Cook's pay for fiscal 2013, which ended in September, consisted of $1.4 million in salary and a bonus of $2.8 million, according to a regulatory filing Friday. Cook's compensation also includes $52,721 in company contributions to his 401(k) account, life insurance premiums and a vacation cash-out.
The year's pay was relatively modest compared with 2011, when he took the company's helm. That year, Apple's board set him up with stock now worth $510 million.
Apple itself faced some challenges in the fiscal year. It closed with a nearly 25 percent decline in market value, or about $160 billion. Still, it remains the world's most valued company as measured by market capitalization.
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