Apple CEO Tim Cook’s 2013 total compensation was 2% higher than last year

Tim CookIn a preliminary proxy statement released on Friday, tech giant Apple revealed that the total compensation package of the company's CEO Tim Cook in 2013 was $4.25 million; 2 percent more than the compensation he received in
2012.

According to Apple, Cook's fiscal 2013 compensation package comprised a base salary of $1.4 million, as well as a non-equity incentive plan compensation of $2.8 million, and other incentives totaling 0.53 million. Cook's total $4.25 million compensation package for the year was almost at par with the 2012 compensation package of $4.17 million.

Though Cook's salary in 2013 increased from the $1.36 million salary he got last year, and all other compensations also increased by 4.5 percent, there were neither any stock awards granted to him this year nor any change in the non-equity incentive plan compensation. In fact, no Apple executive was granted stock awards in 2013.

While the increase in Cook's 2013 compensation marked a marginal rise over his 2012 compensation, the package this year were substantially lower than the whopping $378 million compensation which he received in 2011, when he took over Apple's reins from the late Steve Jobs.

The hefty compensation package which Cook, 53, had received in 2011 included an award of one million Apple shares amid his promotion to the top position in the company.

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