Apple CEO Tim Cook's compensation package increased slightly to $4.3 million this year
According to a regulatory filing submitted by Apple to the Securities and Exchange Commission (SEC) on Friday, the compensation package of the company's CEO Timothy Cook increased slightly in fiscal 2013, as compared to fiscal 2012.
The compensation package that Cook received for fiscal 2013 - which ended in September - was valued at approximately $4.3 million, which underscores a marginal increase over his $4.2 million compensation package last year.
Going by Apple's SEC filing, Cook's compensation package this year consisted of $1.4 million in salary, as well as $2.8 million in bonuses. In addition, the compensation also included some other benefits like $52,721 in company contributions to his 401(k) account, a vacation cash-out, and life insurance premiums.
Cook's fiscal 2013 compensation package appears to a rather modest one in comparison to what he received in the year 2011, when he took over as the new Apple CEO, succeeding the late Steve Jobs. Though the salary which Cook earned that year was only $900,000, the Apple board set him up with a sign-on grant of 1 million shares; with the result that his compensation amounted to a whopping $378 million.
Meanwhile, despite the fact that there was a slight increase in Cook's compensation package in fiscal 2013, Apple itself faced some challenges in the fiscal year; and closed with an approximately 25 percent plunge in market value, or approximately $160 billion.
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