Tim Cook agrees to a massive pay cut

Apple CEO Tim Cook has agreed to cut his pay this year after shareholders rebelled.

The world’s largest tech company said it would reduce Cook’s target pay package to $49 million, 40% lower than his target pay for 2022 and about half Cook’s $99.4 million total compensation that he was granted last year.

The vast majority of Cook’s 2022 compensation — about 75% — was tied up in company shares, with half of that dependent on share price performance. READ MORE

Apple CEO's pay depends on stock performance in 2023

Apple Chief Executive Tim Cook's pay package for the fiscal year 2023 is expected to be smaller than last year.

Don't worry about Cook, though it may be 40% lower, but the target is still $49 million.

According to regulatory filings, his compensation will depend more on how well the iPhone maker's shares perform relative to market peers. READ MORE