Apple CEO Tim Cook requests and receives a 40% pay cut after shareholder vote
Publishing timestamp: 2023-01-12 23:42:30
Summary
Apple CEO Tim Cook will receive a pay cut in 2023 to $49 million in total compensation, following a shareholder vote on his pay package. The compensation committee, comprised of Art Levinson, Al Gore and Andrea Jung, said it reached out to institutional shareholders to gauge how they felt about Cook's pay and made changes to the size and structure of his 2023 compensation. 75% of Cook's vesting shares will be tied to Apple's stock performance in 2023 instead of 50%. Apple also announced a stock grant for Cook in September 2020 running through 2025.
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Keywords: andrea jung, breaking news: technology, business, apple inc, business news, al gore, technology, mobile, tim cook,