Apple CEO Tim Cook's fiscal 2013 compensation package was nearly $4.3 million
US tech giant Apple has revealed in a recent regulatory filing that CEO Tim Cook's total compensation package for fiscal 2013 - which ended in September - was valued at approximately $4.3 million, which was marginally higher than his compensation package for fiscal 2012.
Cook's fiscal 2103 compensation package was a result of the decision by the Apple board this year to align the CEO's performance with the company's performance. However, to avoid placing excessive burden on Cook, the Apple compensation committee wanted less than half of Cook's yearly stock grants to be subject to the new performance-based metric.
According to the regulatory filing, Cook's compensation package this year included $1.4 million in base salary as well as a bonus of $2.8 million. In addition, the compensation package also included $52,721 in company contributions to Cook's 401(k) account; and other incentives like life insurance premiums, and a vacation cash-out.
In comparison to the compensation package received by Cook in 2013, the total compensation which he got in 2012 was valued $4.2 million.
Meanwhile, so far as Apple's performance in 2013 is concerned, the company closed the fiscal year with an almost 25 percent plunge in market value, or approximately $160 billion. However, despite the decline, Apple was still the world's most valued company based on market capitalization.
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