Apple rewards Tim Cook, with a payment of 102 million dollars. - CYDIAPLUS.com

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Saturday, 30 December 2017

Apple rewards Tim Cook, with a payment of 102 million dollars.



Apple rewards Tim Cook with a payment of 102 million dollars and asks him to only travel in private planes. Timothy Donald Cook, better known as Tim Cook, is the CEO of Apple Inc. since August 2011. Cook is also part of the executive board of the Nike company.

Without a doubt, it has been a good year for Apple and even better for its executive director Tim Cook. Apple rewards Tim Cook
After the company suffered a fall in fiscal year 2016, Cook has managed to steer the company towards a rebound in earnings growth in the fiscal year 2017. That is why Apple rewards Tim Cook rewarded for its success and for reversing the fall of last year with a 74 percent bonus. In addition, he is now forced to fly in a private jet when traveling, whether for work or pleasure.

As revealed in the last power of attorney letter, Apple rewards Tim Cook with $ 9.33 million in incentives for the fiscal year that ended September 30. That amount is added to his salary of $ 3.06 million and the equity allocation of $ 89.2 million, which brings his total payment to just under $ 102 million dollars!

However, the firm believes that this historic growth also represents a risk to the safety of Tim Cook, so the board decided that from now on, Cook must make all his business and personal trips in a private plane, either for travel the country or the rest of the world. "This policy was implemented in 2017 for the sake of the safety and efficiency of its high-level employees, based on our global profile and the highly visible nature of Cook's role as CEO in our company," Apple said in the statement. yesterday's statement.

Cook accumulated $ 93,109 in personal travel expenses for Apple in 2017, "based on flight hourly charges and other variable costs incurred by Apple for such use, including variable fuel charges, departure fees and landing fees." The costs are considered as an extra compensation for the CEO, and he must pay taxes on them. Apple also paid $ 224,216 in additional private security costs for Cook, which covers its personal security services.

Other Apple executives can use the company's private jets if necessary. Family members and spouses can accompany executives on flights, but the Apple employee must pay most of the additional cost.

Apple was left with almost 60 percent of all profits it generated in the global smartphone market in the third quarter, according to Counterpoint Research. For every phone sold, the Cupertino manufacturer earns $ 151 more than Samsung, which is second in the ranking.

Based on these figures, on November 8, Apple's stock reached US $ 176.24 per unit, which earned it a market price of US $ 904,870 million, that is, the highest in its history.

Apple sold on Thursday 291,377 shares, valued at around 37.7 million euros to meet its tax obligations in relation to the delivery of shares to Tim Cook,

Cook may be a millionaire, but Apple's philanthropic boss has said he intends to donate most of his money to charities during his lifetime.

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