With No Stock Awards, Apple CEO Tim Cook’s 2012 Salary Drops Whopping 99%

Tim Cook may have to trim expenses here and there this coming year, as his total compensation as CEO of Apple took a precipitous drop in 2012. He’ll only bank $4.17 million this year, a 99% drop from 2011. The culprit? A lack of stock awards. And as a service to you, the reader, I’ll save you the trouble of posting a comment: “Well, Boo-Frickin’-Hoo!”

AppleInsider:

Cook’s pay was revealed in a regulatory filing by Apple, first highlighted on Thursday by Bloomberg. The annual payment includes $1.36 million in base salary and $2.8 million in incentive plan compensation.

Last year, Apple awarded Cook $378 million, making him the highest-paid CEO in the United States. However, Cook won’t see most of that unless he stays at Apple for a decade. The majority of the award, $376.2 million, is in the form of a one-time stock award.

Taking the stock award out of the equation, Cook’s compensation for the 12-month span, including salary, perks, and bonuses, amounted to $1.8 million. His annual salary for last year was $900,000.

Chris Hauk

Chris is a Senior Editor at Mactrast. He lives somewhere in the deep Southern part of America, and yes, he has to pump in both sunshine and the Internet.