Apple CEO Tim Cook Earned $102 Million in 2017, Must Now Fly Privately for Security Reasons

tim cook headshot glassesIn fiscal 2017, Apple CEO Tim Cook received a salary of $3.06 million plus $9.33 million in bonuses and stock worth $89.2 million for a total compensation package of approximately $102 million, reports Bloomberg.

The data was shared today by Apple in a proxy statement filed with the United States Securities and Exchange Commission ahead of the company's annual shareholders meeting, which will take place on February 13, 2018.

Executive officers at Apple, which included Luca Maestri, Angela Ahrendts, Johny Srouji, Dan Riccio, and Bruce Sewell, all received bonuses of over $3 million, bringing their compensation, including salary and stock awards, to approximately $24.2 million each, provided each stays with the company long enough for awarded stock to vest. Angela Ahrendts, Apple's retail chief, was the highest paid executive, bringing in $24,216,072.

In addition to covering executive compensation, today's proxy statement also says that Apple's board now requires Apple CEO Tim Cook use private aircraft "for all business and personal travel." The flight policy was implemented in 2017 "in the interests of security and efficiency" based on Cook's "highly visible" role as CEO.

Over the course of 2017, Cook's personal air travel expenses amounted to $93,109, and Apple spent an additional $224,216 in personal security costs provided to Cook.

The proxy statement also includes six proposals that will require shareholder action at the upcoming shareholders meeting in February. Proposals cover standard actions like re-appointing Apple's public accounting firm and re-electing board members, along with two shareholder proposals covering proxy access amendments and the establishment of a Human Rights Committee.

Apple's board of directors is recommending shareholders vote against both shareholder proposals, with the full text of all of the proposals available in the proxy statement filed with the SEC.

Shareholders who wish to attend the shareholders meeting, which will be held at the Steve Jobs Theater at Apple Park, will need to register using Proxyvote.com starting at 8:00 a.m. on January 22, 2018. Apple plans to accept registrations on a first-come, first-serve basis as space is limited.

Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Popular Stories

iPhone 17 Pro Lower Logo Feature 1

iPhone 17 Pro Coming Soon With These 14 New Features

Monday June 30, 2025 1:08 pm PDT by
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are less than three months away, and there are plenty of rumors about the devices. Apple is expected to launch the iPhone 17, iPhone 17 Air, iPhone 17 Pro, and iPhone 17 Pro Max in September this year. Below, we recap key changes rumored for the iPhone 17 Pro models:Aluminum frame: iPhone 17 Pro models are rumored to have an...
A18 Pro Chip

New MacBook With A18 Pro Chip Spotted in Apple Code

Monday June 30, 2025 8:05 am PDT by
Apple is developing a MacBook with the A18 Pro chip, according to findings in backend code uncovered by MacRumors. Earlier today, Apple analyst Ming-Chi Kuo reported that Apple is planning to launch a low-cost MacBook powered by an iPhone chip. The machine is expected to feature a 13-inch display, the A18 Pro chip, and color options that include silver, blue, pink, and yellow. MacRumors...
iPhone Car Key WWDC 2025

Apple Announces 13 Automakers Planning to Offer iPhone Car Keys

Friday June 27, 2025 11:42 am PDT by
In 2020, Apple added a digital car key feature to its Wallet app, allowing users to lock, unlock, and start a compatible vehicle with an iPhone or Apple Watch. The feature is currently offered by select automakers, including Audi, BMW, Hyundai, Kia, Genesis, Mercedes-Benz, Volvo, and a handful of others, and it is set to expand further. During its WWDC 2025 keynote, Apple said that 13...
maxresdefault

Five Features Coming to AirPods Pro 3

Friday June 27, 2025 10:52 am PDT by
Apple hasn't updated the AirPods Pro since 2022, and the earbuds are due for a refresh. We're counting on a new model this year, and we've seen several hints of new AirPods tucked away in Apple's code. Rumors suggest that Apple has some exciting new features planned that will make it worthwhile to upgrade to the latest model. Subscribe to the MacRumors YouTube channel for more videos. Heal...
macbook air spacegray purple

Apple Planning to Launch Low-Cost MacBook Powered By iPhone Chip

Monday June 30, 2025 3:20 am PDT by
Apple is planning to launch a low-cost MacBook powered by an iPhone chip, according to Apple analyst Ming-Chi Kuo. In an article published on X, Kuo explained that the device will feature a 13-inch display and the A18 Pro chip, making it the first Mac powered by an iPhone chip. The A18 Pro chip debuted in the iPhone 16 Pro last year. To date, all Apple silicon Macs have contained M-series...
anker power bank recall

PSA: Anker Recalls Multiple Power Banks Due to Fire Risk

Friday June 27, 2025 4:16 pm PDT by
Popular accessory maker Anker this month launched two separate recalls for its power banks, some of which may be a fire risk. The first recall affects Anker PowerCore 10000 Power Banks sold between June 1, 2016 and December 31, 2022 in the United States. Anker says that these power banks have a "potential issue" with the battery inside, which can lead to overheating, melting of plastic...
Chase Sapphire Reserve Apple Perk Feature

Chase Sapphire Reserve Card Introduces New Perk for Apple Customers

Wednesday June 25, 2025 2:08 pm PDT by
Chase this week announced a series of new perks for its premium Sapphire Reserve credit card, and one of them is for a pair of Apple services. Specifically, the credit card now offers complimentary annual subscriptions to Apple TV+ and Apple Music, a value of up to $250 per year. If you are already paying for Apple TV+ and/or Apple Music directly through Apple, those subscriptions will...
replay all time playlist apple music

Apple Music Debuts All-New Personalized Playlist

Monday June 30, 2025 7:16 am PDT by
As part of its 10-year celebrations of Apple Music, Apple today released an all-new personalized playlist that collates your entire listening history. The playlist, called "Replay All Time," expands on Apple Music's existing Replay features. Previously, users could only see their top songs for each individual calendar year that they've been subscribed to Apple Music, but now, Replay All...

Top Rated Comments

bdkennedy1 Avatar
98 months ago
I totally expected him to fly private just like Jobs.

Remember how Jobs got stopped at Japan's security for bringing a sword onto his own plane?
Remember how Jobs only took $1 a year for salary?
Score: 43 Votes (Like | Disagree)
Will.O.Bie Avatar
98 months ago
Given everything Apple has managed to accomplish this year, I do feel that Tim Cook deserves every cent he earned (and yes, I know this is going to be a very controversial statement).

Different people are needed at different points in a company history. Jobs was right for his era, but he would have been a disaster for the Cook era.

Cook is amazing, and has been responsible for most of the achievements of Apple, but not the initial innovation and concept that Jobs provided. Cook has refined the culture and expanded it, and has done as fine a job as any CEO in American history, if not world business history.
You mean he made Apple more of a fashion accessory rather than a substantial technology company that used to be revered in the Pro world? I understand that he has made a few good decisions but "Jobs being a disaster for Cook's era?" Really?! I think I would have loved for Steve Jobs to have lived long enough to smack Tim upside the head and say to him "What the hell were you thinking?!"

And, "done as a fine job as any CEO in American history, if not world history?" :eek:o_O
Score: 41 Votes (Like | Disagree)
Abazigal Avatar
98 months ago
Given everything Apple has managed to accomplish this year, I do feel that Tim Cook deserves every cent he earned (and yes, I know this is going to be a very controversial statement).

Different people are needed at different points in a company history. Jobs was right for his era, but he would have been a disaster for the Cook era.

Cook is amazing, and has been responsible for most of the achievements of Apple, but not the initial innovation and concept that Jobs provided. Cook has refined the culture and expanded it, and has done as fine a job as any CEO in American history, if not world business history.
Score: 29 Votes (Like | Disagree)
krause734 Avatar
98 months ago
I wonder if he uses Airplane Mode?

Score: 29 Votes (Like | Disagree)
farewelwilliams Avatar
98 months ago
he was flying commercial before? good guy tim.
Score: 28 Votes (Like | Disagree)
itguy06 Avatar
98 months ago

Cook is amazing, and has been responsible for most of the achievements of Apple, but not the initial innovation and concept that Jobs provided. Cook has refined the culture and expanded it, and has done as fine a job as any CEO in American history, if not world business history.
You owe me a keyboard. I spit my beer when I read that drivel. You do realize all of Cook's "success" rests on the heels of Jobs, right?
Score: 27 Votes (Like | Disagree)