Shareholders Advisory Group Doesn't Want Tim Cook to Get $99 Million Pay Package

Apple shareholders are being urged to vote against a planned $99 million compensation package for Apple CEO Tim Cook, reports Financial Times. Shareholder advisory group Institutional Shareholder Services (ISS) said on Wednesday that there is a "significant concern" with the stock Cook was awarded in 2021.

Apple Logo Cash Feature Blue
Cook last year was awarded stock valued at $82 million, along with a $3 million salary and a $12 million bonus, and the stock award was the first incentive package he had been granted since his 2011 package was granted in full for his tenure at Apple.

According to ISS, Cook's 2021 compensation "significantly exceeded" that provided by comparable companies last year. It has been seven years since ISS last objected to Apple's pay packages.

Shareholder votes on the compensation that Apple provides to executives are advisory, and the board is not required to take action. Financial Times says that if there is backlash over Cook's pay, it could potentially sway Apple's board. In its proxy statement, Apple says that it will "continue to consider shareholder feedback and the results of say-on-pay votes when making future compensation decisions."

Under Cook's 10-year leadership, Apple has seen continued success and in January, briefly became the first company to hit a $3 trillion valuation. Apple executive compensation is tied to company performance, and Apple has regularly hit its targets.

Top Rated Comments

adamjackson Avatar
13 months ago
I'm all for a discussion and proposal from interested shareholders who push back on certain things. It's healthy for a publicly traded company to receive that feedback.

Personally, as a shareholder, I am not concerned at all with Mr. Cook's pay.
Score: 58 Votes (Like | Disagree)
temende Avatar
13 months ago

They should give him anything he wants. You can disagree with the pricing and product line-up, but he's probably the best CEO of all time.
Let's be real - the greatest CEO of all time is Steve Jobs.
Score: 49 Votes (Like | Disagree)
temende Avatar
13 months ago
I'm fine with it as long as shareholders get a 30% cut.
Score: 42 Votes (Like | Disagree)
turbineseaplane Avatar
13 months ago
No opinion other than I wish Tim would retire

I'm ready for a new direction for the company
Score: 39 Votes (Like | Disagree)
WiseAJ Avatar
13 months ago

No opinion other than I wish Tim would retire

I'm ready for a new direction for the company
That direction would be downward since the direction they have been going has been upward. So no, I don't want a new direction.
Score: 36 Votes (Like | Disagree)
MakeAppleAwesomeAgain Avatar
13 months ago
They should give him anything he wants. You can disagree with the pricing and product line-up, but he's probably the best CEO of all time.
Score: 33 Votes (Like | Disagree)

Popular Stories

Apple Silicon Teal Feature

The Next Big Apple Silicon Device May Not Be a Mac or iPad

Wednesday February 1, 2023 3:57 am PST by
Apple's next device with an Apple silicon chip may not be a Mac or an iPad, but rather an advanced external display, according to recent reports. The display, which is rumored to arrive this year, is expected to sit somewhere between the $1,599 Studio Display and the $4,999 Pro Display XDR – but more exact information about the device's positioning and price point is as yet unknown. While ...
General iOS 16 Feature Yellow

Five New iOS Features Coming to Your iPhone Later This Year

Tuesday January 31, 2023 11:58 am PST by
Apple has previously announced several upcoming iOS features that are expected to be added to the iPhone this year. Some of the features could be introduced with iOS 16.4, which should enter beta testing soon, while others will arrive later in the year. Below, we have recapped five new iOS features that are expected to launch in 2023, such as an Apple Pay Later financing option for purchases ...
HomePod 2 White and Midnight Feature Purple Blue

Apple Explains Why HomePod Was Released Again, Wi-Fi 4 Limitation, and More

Thursday February 2, 2023 7:57 am PST by
Apple's VP of hardware engineering Matthew Costello and product marketing employee Alice Chan recently spoke with Men's Journal and TechCrunch about the new second-generation HomePod in wide-ranging interviews about the smart speaker. Apple discontinued the original full-size HomePod in March 2021 after multiple reports indicated that sales of the speaker were lackluster, but Chan told Men's ...
iOS 16

Apple Preparing iOS 16.3.1 Update for iPhone as Wait for iOS 16.4 Beta Continues

Thursday February 2, 2023 6:41 am PST by
Apple appears to be preparing an iOS 16.3.1 update for the iPhone, based on evidence of the software in our website's analytics logs this week. It's unclear when the update will be released, but it will likely be available at some point in February. The same logs have accurately foreshadowed the release of several previous updates, including iOS 16.0.3 and iOS 16.1.1 most recently, so they...
dewey airtag

Report Highlights Danger of Using AirTags for Tracking Dogs

Monday January 30, 2023 1:45 pm PST by
AirTags may be a convenient way for tracking dogs that might get off leash or otherwise lost, but there are dangers associated with the practice, as outlined by a report from The Wall Street Journal. At 1.26 inches in diameter, AirTags are able to fit easily on a dog's collar, but that size also makes the tracking devices small enough to swallow, at least for a medium to large-sized dog, and ...
MKBHD HomePod 2 White Ring Stain

New HomePod Can Still Stain Some Wooden Surfaces

Tuesday January 31, 2023 8:29 am PST by
When the original HomePod launched in 2018, it was discovered that the speaker can leave white rings on some wooden surfaces. Now, well-known YouTuber Marques Brownlee has confirmed that the issue persists to a lesser extent with the new HomePod. In a side-by-side test, he showed that the white second-generation HomePod left a white ring on the wooden surface that he placed the speaker on,...
Multi Display CarPlay 1

Apple Launching All-New CarPlay Experience Later This Year With These 5 Features

Sunday January 29, 2023 10:15 am PST by
In June 2022, Apple previewed the next generation of CarPlay, promising deeper integration with vehicle functions like A/C and FM radio, support for multiple displays across the dashboard, personalization options, and more. Apple says the first vehicles with support for the next-generation CarPlay experience will be announced in late 2023, with committed automakers including Acura, Audi,...
iOS 16

When Will the iOS 16.4 Beta Be Released?

Wednesday February 1, 2023 11:09 am PST by
It's been more than a week since Apple released the iOS 16.3 update, and typically, new iOS betas follow launches within a day or so. We were expecting Apple to provide the first beta iOS 16.4 on Monday, Tuesday or Wednesday of this week, but that hasn't happened. Tuesdays are the days that we most often see betas, though Monday and Wednesday happen now and then, and most often betas come...