A year after delivering an unusual pay cut, Apple gave CEO Tim Cook a major boost in compensation for fiscal-year 2017 as the company exceeded annual sales and profit goals, reports The Wall Street Journal.
His pay jumped 47% to $12.8 million, up from $8.7 million in 2016. Cook’s pay increase was driven by a cash bonus, which was dependent on the company’s yearly performance (which was great).
Also, Apple’s Board of Directors has also implemented a policy requiring Cook to “use private aircraft for all business and personal travel.” The CEO doesn’t make a lot of high-profile appearances, but his job does require him to travel to places like Scotland, China, and India, and Apple’s stores and data centers across the U.S.
In 2016, Cook had security expenses of $220,432. In 2017, it was almost identical, at $224,216, but included the addition of personal air travel expenses in the amount of $93,109.