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.
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.
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.
Apple CEO Tim Cook has fallen to eighth place on a list of the highest-paid CEOs and executives in the United States last year despite earning more than the previous year, according to Bloomberg.
Cook was paid $265 million in 2020, mainly comprising stock awards and a bonus as in previous years, making him the eighth highest-paid executive in the United States. Last year, Cook was paid...
Tesla CEO Elon Musk reportedly once demanded that he be made Apple CEO in a brief discussion of a potential acquisition with Apple's current CEO, Tim Cook. The claim comes in a new book titled "Power Play: Tesla, Elon Musk and the Bet of the Century," as reviewed by The Los Angeles Times.
According to the book, during a 2016 phone call between Musk and Cook that touched on the possibility of ...
On this day ten years ago, Steve Jobs resigned as CEO of the company he built and officially named Tim Cook as Apple's new head. Two months later, Steve Jobs passed away and the future of Apple lay solely on the shoulders of Tim Cook.
Tim Cook took over Apple at a turbulent time when Jobs was battling pancreatic cancer and the company's future seemed uncertain. Questions were widespread...
Thursday August 26, 2021 8:13 am PDT by Sami Fathi
Days after celebrating his tenth anniversary at Apple's helm, Tim Cook is poised to receive a whopping $750 million of Apple's stock this week as the final installment of his pay deal with Apple, put in place over a decade ago when he took over the company, Bloomberg reports.
The installment will consist of 5 million shares of Apple's stock, equating to be around worth $750 million,...
Thursday September 23, 2021 12:25 pm PDT by Juli Clover
Apple CEO Tim Cook, Utah Jazz owners Ryan and Ashley Smith, and Imagine Dragons lead singer Dan Reynolds and his wife recording artist Aja Volkman are set to headline a fundraising dinner on October 13 that will benefit LGBTQ+ youth services non-profit Encircle.
Encircle provides mental health services for LGBTQ+ youth and their families. Back in February, Encircle launched a "$8 Million, 8...
Apple CEO Tim Cook is in New York City today for a meeting with Margrethe Vestager, the European Commissioner for Competition, according to a person familiar with the matter. Vestager was a keynote speaker at Fordham University's annual Conference on International Antitrust Law and Policy earlier today.
It's unclear when Cook and Vestager are scheduled to meet or what topics will be on the...
Wednesday September 15, 2021 10:20 am PDT by Juli Clover
Apple CEO Tim Cook is one of the 100 Most Influential People of 2021 according to TIME's newly published rankings. TIME shares an annual list highlighting world leaders, celebrities, tech company executives, authors, musicians, athletes, and more, and this is not the first time Cook has been celebrated.
This year's list is broken up into categories that include Icons, Pioneers, Titans,...
Thursday January 27, 2022 2:12 pm PST by Juli Clover
Apple now has over 1.8 billion active devices worldwide, a new record, Apple CEO Tim Cook said during today's earnings call covering the first fiscal quarter of 2022.
Apple's active install base includes iPhone, iPod touch, iPad, Mac, Apple TV, and Apple Watch, and it has grown from 1.5 active billion devices in January 2020 and 1.65 active billion devices in January 2021.
Cook did not...
Monday December 5, 2022 11:44 am PST by Juli Clover
Due to production issues at Apple supplier factories in China, the iPhone 14 Pro and iPhone 14 Pro Max are backordered and basically out of stock at every store. If you were planning to gift or receive an iPhone 14 Pro model for the holidays and didn't already get one, you're basically out of luck because they're gone until late December.
Subscribe to the MacRumors YouTube channel for more ...
Thursday December 8, 2022 2:45 am PST by Sami Fathi
Apple yesterday announced that end-to-end encryption is coming to even more sensitive types of iCloud data, including device backups, messages, photos, and more, meeting the longstanding demand of both users and privacy groups who have rallied for the company to take the significant step forward in user privacy.
iCloud end-to-end encryption, or what Apple calls "Advanced Data Protection,"...
Thursday December 1, 2022 8:44 am PST by Joe Rossignol
Apple plans to publicly release iOS 16.2 for the iPhone in mid-December, according to Bloomberg's Mark Gurman. The update remains in beta testing for now, with at least eight new features and changes already uncovered so far.
iOS 16.2 introduces a number of new features, including Apple's new whiteboard app Freeform, two new Lock Screen widgets for Sleep and Medications, the ability to hide...
Wednesday December 7, 2022 12:24 pm PST by Juli Clover
With the iOS 16.2 release candidate that came out today, Apple added the new Apple Music Sing feature that was announced earlier this week. We thought we'd check out the new karaoke feature to see how it works.
Subscribe to the MacRumors YouTube channel for more videos. Apple Music Sing is available on modern iPhones and iPads, as well as the newest Apple TV 4K. It's built in to the Apple...
Tuesday December 6, 2022 2:31 pm PST by Juli Clover
Apple is aiming to launch an Apple-branded consumer-oriented vehicle by 2026, and its goal is to hit a price point under $100,000 to make the car appeal to a wider range of customers, reports Bloomberg.
Apple initially planned to design a car that might look similar to Canoo's Lifestyle Vehicle, where passengers could face one another in a limousine-style car with no steering wheel or...
Thursday December 8, 2022 7:05 am PST by Joe Rossignol
iOS 16.2 is expected to be released next week following nearly two months of beta testing. With last-minute additions like Apple Music Sing and Advanced Data Protection, the software update now has over a dozen new features for the iPhone.
Below, we've recapped many of the new features coming with iOS 16.2, including Apple's new whiteboard app Freeform, two new Lock Screen widgets, the...
Tuesday December 6, 2022 7:09 am PST by Sami Fathi
Apple today announced Apple Music Sing, a new feature in Apple Music that lets users sing their favorite songs with adjustable vocals and more.
Apple Music Sing will utilize Apple Music's real-time lyrics to allow users to sing to their favorite songs using adjustable vocals, background vocals, and duet view to allow more than one singer.Apple Music Sing includes:
Adjustable vocals: Users...
Wednesday December 7, 2022 6:47 pm PST by Juli Clover
Twitter plans to charge $11 per month for a Twitter Blue subscription on the iPhone in order to account for the 30 percent cut that Apple takes from in-app purchases, reports The Information. On the web, Twitter Blue will be priced at $7 per month.
Prior to when Twitter Blue was paused, Twitter was charging $7.99 for a subscription, but the pricing will change before it relaunches. According ...
Wednesday December 7, 2022 10:00 am PST by Joe Rossignol
Apple today announced it is expanding end-to-end encryption to many additional iCloud data categories on an opt-in basis for enhanced security.
iCloud already protects 14 data categories using end-to-end encryption by default, including the Messages app when backups are disabled, passwords stored in iCloud Keychain, Health data, Apple Maps search history, Apple Card transactions, and more,...
Top Rated Comments
Personally, as a shareholder, I am not concerned at all with Mr. Cook's pay.
I'm ready for a new direction for the company