Cook has a base salary of three million euros, and the rest of his salary is collected in shares, the amount of which reached 36.8 million euros. Therefore, we can say that more than 90% of Tim Cook’s salary will depend to a large extent on how the Californian company fares.
Cook agrees to get started
This movement is a response to the crisis that the technology world in general is experiencing since the outbreak of COVID-19 and the problems in the supply chain. However, that reason is because Cook made more than expected because, as we said before, a large part of his salary depends on how the company is doing.
That’s also because CEOs are increasingly being paid more than the rest of managers and workers, and this was no exception at Apple, where the California-based company was getting Cook. 1.4447 against one. So that they later tell you that if you have a high-value job, you will be paid well.
Cook’s new salary terms
The company, which continues to break earnings records, caused Cook’s salary to increase while the company’s salaries didn’t increase as much. If you add to this the downsizing that is taking place at large companies, the direct companies are also having to tighten their belts, all the more so when there are dry spells both in the third quarter of the year and in the possible sales of the iPhone 15.
Also, shareholders were concerned about the bonuses Mr. Cook received for Apple’s stock market results, as shareholders also wanted to make changes, and Cook accepted those changes and reduced the performance bonus. Specifically, the changes focus 75% on company performance and 25% on seniority awards.
Managers will continue to be paid equally
Company executives will maintain their salaries throughout 2024, and the understanding of bonuses for goal-setting has also remained unchanged since 2020.
In summary, the writing team of La Manzana Mordida finds that this movement is rewarded by Apple and its directors when the work is done well and “attracts attention” when things are not done well. Apple has been living off the rent for several years and driving prices up uncontrollably. Surely the wake-up call of the drop in income will carry more weight than the cut of a very large salary, but still, it’s always good when the wallet hurts.
