Apple Inc. said it exceeded its internal financial targets in the past fiscal year, resulting in the company paying out 179% of the targeted bonuses for named officers.
For Chief Executive Tim Cook, that meant his cash bonus rose 40% last year to $10.7 million, Apple said Tuesday in its annual proxy filing with the Securities and Exchange Commission. His bonus had taken a 36% hit in 2019 when his pay package fell as revenue and profit declined tied to weaker iPhone sales. READ MORE