Apple's Tim Cook Gets 74% Bonus Boost After Sales, Profit Rebound

Apple boss Tim Cook's earnings this year

While better sales is good news for Apple, which saw sales decline for the first time a year ago, the company thought it also means Cook's security could be at risk. That included security expenses in the amount of $224,216, a vacation cash-out in the amount of $103,846, and personal air travel expenses of $93,109 representing "the incremental cost to Apple for Mr. Cook's personal use of private aircraft based on hourly flight charges and other variable costs incurred by Apple for such use". The pay increase came from a larger bonus because Apple beat its goals for annual sales and operating profit.

Likewise, Apple reported annual revenues of $229.23 billion in fiscal 2017, up from $215.64 billion in 2016, but less than the $233.72 billion in 2015. Apple revealed in the same regulatory filing he got more than $9 million in incentive pay on top of his roughly $3 million salary.

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's board rewarded CEO Tim Cook with a sizable increase in compensation for the company's fiscal year 2017, which saw the company return to growth after a rough 2016.

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Cook's "top five lieutenants", as Bloomberg calls them received compensation totaling $24.2 million the year.

Senior retail vice president Angela Ahrendts eked out the highest paid honor by less than $100,000 due to additional compensation to help Ahrendts - the former Burberry CEO - move "closer to Apple's headquarters", according to the SEC filing. Iger's personal air travel expenses totaled $282,831 in fiscal 2016, while the Facebook chief executive racked up about $871,390 in costs related to personal usage of private planes a year ago. The shareholder meeting will be held February 13, 2018, at the Steve Jobs Theater on Apple's new campus in Cupertino, Calif.

Tim Cook, one of the world's most prominent technology executives and an outspoken advocate for human rights, takes a private jet for personal and business travel to ensure his safety.

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