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.

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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
11 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
11 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
11 months ago
I'm fine with it as long as shareholders get a 30% cut.
Score: 42 Votes (Like | Disagree)
turbineseaplane Avatar
11 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
11 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
11 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)

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