Apple CEO Tim Cook’s pay in 2021 was 1,447 times that of the average employee at the tech giant, a filing with the U.S. CEO on Thursday showed, fueled by stock awards that helped him earn a total of nearly $100 million.
Apple CEO Tim Cook
In 2021, the median pay for employees was $68,254, Apple said, adding it had selected a new median employee for comparison due to changes in hiring and compensation.
The median pay in 2020 was $57,783 and the pay ratio was 256 times Cook’s salary.
Cook, whose salary remained at $3 million, received $82.3 million in stock awards, $12 million for hitting Apple’s targets and $1.4 million for air travel, 401(k) plan, insurance premiums and others.
In total, he received $98.7 million compared with $14.8 million in 2020.
For Corporate America, CEOs were paid 351 times as much as a typical worker in 2020, a report by the Economic Policy Institute showed.
Technovanguard Take: When compensation is tied mainly to stock performance, giving incentive that creates possible benefit for shareholders, and the stock price rises strongly, hitting and exceeding compensation targets, these things happen.
Please help support Technovanguard. Click or tap here to support our independent tech blog. Thank you!
The post Apple’s Tim Cook paid over 1,400 times the average worker in 2021 appeared first on Technovanguard.
Leave a Reply