Apple CEO Tim Cook made $12.8 million in 2017 — a 46% raise from last year (AAPL)

Tim Cook

  • Apple CEO Tim Cook got a big bonus in 2017, thanks to major gains in Apple's stock price from the year before.
  • Cook made a total of $12,825,066 this year, up from $8,747,719 in 2016.
  • Over all, Apple's top executives got 155.5% of their performance-based bonus. Last year, they only saw 89.5% of that bonus. 

Apple CEO Tim Cook got a big raise in 2017, thanks in large part better-than-expected sales at the consumer electronic company. 

Cook made a total of $12,825,066 this year, according to a statement filed with the Securities and Exchange Commission on Wednesday. This is up from $8,747,719 in 2016, and $10,281,327 in 2015.

Of that total, only $3,057,692 came from Cook's base salary, which was about the same as the year before.

Most of his payment was in the form of non-equity incentive plan compensation, which is essentially a cash bonus for top executives. Cook made $9,327,000 from these non-equity incentives — up from $5,370,000 in 2016.

Apple's executive compensation program is designed to reward its senior-level officials when the company does well, and dock them when it doesn't. In 2016, missed targets meant Apple execs got only 89.5% of their potential cash incentive payouts for the year.

This year, however, the top brass got 155.5% of their target, thanks to a massive rebound to Apple's business. In 2017, Apple booked $229.2 billion in net sales, and $61.3 billion in operating income, beating internal Apple estimates. That success led, in large part, to a 36.7% increase in Apple stock prices year-over-year.

SEE ALSO: Apple's board says that Tim Cook has to fly private from now on 'in the interests of security and efficiency'

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Contributer : Tech Insider http://ift.tt/2E1wyD5
Apple CEO Tim Cook made $12.8 million in 2017 — a 46% raise from last year (AAPL) Apple CEO Tim Cook made $12.8 million in 2017 — a 46% raise from last year (AAPL) Reviewed by mimisabreena on Thursday, December 28, 2017 Rating: 5

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