Salary

$3.00M

Board Justification

Apple's compensation philosophy for the CEO in 2023 focuses on aligning pay with performance, retaining exceptional leadership, and responding to shareholder interests. The compensation structure is designed to reflect Apple's size, scope, and success, with a significant portion of equity awards being performance-based.

Bonus

$10.71M

Board Justification

The bonus for Mr. Cook in 2023 was based on the achievement of annual net sales and operating income performance goals, as well as progress made in furtherance of Apple's values and key community initiatives. The payout opportunity was 166.1% of the target, with an additional 7.5% modifier applied, resulting in a final Cash Incentive Plan award of 178.6% of the target payout opportunity.

Other

$2.53M

Board Justification

This includes Apple's contributions to Mr. Cook's 401(k) plan, term life insurance premiums, vacation cash-out, security expenses, and personal air travel expenses.

Restricted Stock

$18.60M(111.33K RSU)

Board Justification

In 2023, Mr. Cook vested in 111,329 time-based RSUs, which were part of his equity compensation package. These RSUs vested on April 1, 2023.

Performance Metrics

The performance metrics for Mr. Cook's compensation in 2023 included net sales, operating income, and Apple's progress in furthering its values and key community initiatives.

SEC Filing

From January 11, 2024

View SEC Filing