Apple Reveals CEO Tim Cook’s 2011 Salary And More In 2012 Proxy Statement

Apple Reveals CEO Tim Cook’s 2011 Salary And More In 2012 Proxy Statement

Apple has posted its 2012 proxy statement for investors. In the document, Apple reveals the compensation that its executives earned last year alongside more background information.

Notable facts from the document include CEO Tim Cook’s 2011 compensation, totaling an impressive $376,180,000.

Apple Reveals CEO Tim Cook’s 2011 Salary And More In 2012 Proxy Statement

Apple today announced that its 2012 proxy materials are now available a www.apple.com/investor under the US Securities and Exchange Commission’s Notice and Access rules. As a result of the Notice and Access rules, Apple is able to significantly reduce the environmental impact of producing and delivering printed materials.

Apple shareholders can still receive a printed copy of the proxy materials free of charge by following the instructions provided at www.apple.com/investor or in the Notice of Internet Availability of Proxy Materials that will be mailed to individuals who were Apple shareholders as of December 27, 2011. Apple’s 2011 Form 10-K was filed on October 26, 2011 and may also be viewed at www.apple.com/investor.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.

The proxy statement also reveals that Steve Jobs was credited his annual $1 salary in 2011:

As of the end of 2011, Mr. Jobs owned approximately 5.5 million shares of the Company’s common stock. Since rejoining the Company in 1997, Mr. Jobs had not sold any of his shares of the Company’s stock. Mr. Jobs held no unvested equity awards. The Company recognized that Mr. Jobs’s level of stock ownership significantly aligned his interests with shareholders’ interests.

Tim Cook was recently awarded a comfortable stock bonus as the company’s new CEO:

Mr. Cook. In connection with Mr. Cook’s appointment as CEO and as noted above, the Board granted Mr. Cook 1,000,000 RSUs as a promotion and retention award. Fifty percent (50%) of Mr. Cook’s award is scheduled to vest on August 24, 2016 (five years after the award date) and fifty percent (50%) of Mr. Cook’s award is scheduled to vest on August 24, 2021 (ten years after the award date), subject to Mr. Cook’s continued employment with the Company through the applicable vesting date.

Related
  • Jordan Clay

    His salary was around $900K, his stock awards was $376,180,000 and his total compensation was $377,996,537.   

    #corrections

  • Timothy Williamson

    I find it amazing that in the past 3 years he has received nearly a half a BILLION dollars from Apple (actually 437M). He deserves it though, he’s running the strongest company in the world right now, which directly employs 60,000 people, and probably countless others indirectly (contractors, vendors, iOS developers, etc.).

  • shaun earsom

    From a stock holder point of view, he’s a bit more pricy than our last CEO…

  • Rob Williams

    His income is contingent with him staying with Apple, so it’s not quite a payday yet.

  • Gi

    It makes you feel good that a man is paid that much while the people that make the company’s products eat crumbs? Interesting. What man on earth deserves nonetheless needs close to half a billion dollars in a lifetime nonetheless a year’s time???

  • Timothy Williamson

    Good point, while I don’t agree with China’s labor practices, I do support a free market economy where anyone is free to make any income they’re able to make.

  • Jason Bartlett

    I find him incredibly attractive. There’s just something about him. Tim, CALL ME!

  • cassandralite

    Does that mean he’s in the 1 percent?

  • Hal Summers

    I think it’s time for him to adopt Steve’s $1 a year salary.

  • LittleBiggyGirl

    what % of his 2011 compensation did Tim Cook spend on his wardrobe?
    http://littlebiggy.org/4648387

  • Bossxii

    Ya… Let’s put limits on capitalism, don’t reward someone to lead the largest company on the planet? His salary was 900K, they awarded him stock, it’s his job to make sure it still worth something in 5 to 10 years.

    If you want to play the bleeding heart game I’m pretty sure you make hundreds of times more than anyone building the very device you posted on the forums with. When you give up you salary and donate it to those poor workers, then we can all join hands and sing kumbaya!

    Did you ever stop and think in a country of more than a billion people those people maybe just grateful to have a job? When hey have 10% unemployment that is equal to 50% of the entire US? Thousands sit outside Foxconn hoping to get a factory job because it’s a steady paycheck. Foxconn employs something like 1.3 million people, guess how many of those would not be working if Apple didn’t give Foxconn any contracts? Point being you can spin the debate anyway you want. Doesn’t change the fact Apple will have over 100 Billion in revenue and the CEO’s salary is less than 1% of that.

  • AndroidTricks

    yes me too think so :)

  • smithjason77

    His total compensation was $377,996,537.  The number you cited was simply the $$ amount of his stock awards in 2011.

  • Mac999

    Where’s Jony Ive in the proxy statement?  Interesting that he’s not an Executive Officer at Apple despite his Sr. VP title.

  • winfredteddy

    Very meaningful concept in Apple bit issue. I’m so surprised to get the Apple 2012 proxy statement indeed. I enjoyed this impression. Thanks! 

About the author

Alex HeathAlex Heath has been a staff writer at Cult of Mac for over two years. He is also a co-host of the CultCast. He has been quoted by places like the BBC, KRON 4 News, and books like "ICONIC: A Photographic Tribute to Apple Innovation." If you want to get in touch, additional contact information is available on his personal site. Twitter always works too.

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