Вторник, 24 Апреля, 2018

Tim Cook Must Now Fly Private Jet For "Security" Reasons: Apple Inc

Tim Cook Must Now Fly Private Jet For Tim Cook Must Now Fly Private Jet For "Security" Reasons: Apple Inc
Cristina Norman | 29 Декабря, 2017, 02:10

But then in fiscal year 2017, Apple saw a major rebound across almost all of its categories.

Cook's pay package included a base salary of $3.1 million, along with $9.3 million in non-equity incentive pay, up from $5.4 million.

While executives have been criticized in the past for overzealously flying by private plane, Tim Cook now has no other option.

In addition to covering executive compensation, the proxy statement also says that Apple's board now requires Apple CEO Tim Cook use private aircraft "for all business and personal travel".

Cook also benefited from a generous share award, banking $89.2 million United States dollars worth of Apple stock as part of a compensation package agreed when he was appointed chief executive in 2011.

Читайте также: Suspect shot, killed woman, two children in Phoenix on Christmas

While Apple's revenue climbed in 2017 and is projected to continue in the green following the release of iPhone 8 and iPhone X, the company has been hit with a class action lawsuit after it admitted to slowing down iPhones as they age. The pay increase came from a larger bonus because Apple beat its goals for annual sales and operating profit.

Yet Cook's previous stock awards vested in 2017 were worth an additional $89 million for the CEO, according to the filing with the Securities and Exchange Commission.

The company board instructed Cook to use only private aircraft "in the interests of security and efficiency" at the world's most valuable company, regulatory documents show.

Apple just awarded Tim Cook with a huge pay hike. Retail chief of Apple, Angela Ahrendts, was among the one who was the highest paid executive, bagging in $24,216,072.

Mr Cook became Apple's chief executive after Steve Jobs resigned in 2011 and shares in the company have more than tripled under his watch. Apple notes that Cook added $93,109 in personal travel costs for the company, "based on hourly flight charges and other variable costs incurred by Apple for such use, including variable fuel charges, departure fees, and landing fees".

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