Apple Chief Executive Tim Cook received a pay raise in the technology company’s latest fiscal year.
Cook’s annual compensation package reaches $74.6 million in fiscal 2024, according to regulatory filings with the U.S. Securities and Exchange Commission. Prior to this, Cook’s total compensation in fiscal 2023 was US$63.2 million, compared with US$99.4 million in the same period last year.
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In the most recent fiscal year, Cook’s base salary was $3 million, the same as the previous two years, plus $58 million in stock awards.
His fiscal 2024 compensation package includes $12 million in non-equity compensation and $1.52 million in other compensation.
By comparison, Cook received $46.9 million in stock awards, another $10.7 million in non-equity compensation and $2.5 million in other compensation in fiscal 2023.
In addition to Wall Street gauging demand for the all-important iPhone device, investors are also focused on Apple’s main revenue streams from its Apple TV+, Apple Music and iCloud products. The tech giant is also developing Apple Intelligence, an artificial intelligence system, for its iPhone and Mac computer products.
In October 2024, Apple announced that its fourth-quarter services business revenue reached US$24.97 billion, a record high in the company’s history.
Also in Friday’s SEC filing, Chief Financial Officer Luca Maestri’s overall compensation for fiscal 2024 increased to $27.1 million from $26.9 million a year earlier. Chief Operating Officer Jeff Williams’ total compensation for 2024 also rose slightly to $27.1 million, compared with $26.9 million a year earlier.
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