Apple Defeats Lawsuit Claiming It Overpaid Tim Cook and Other Execs
Apple will not have to face an investor lawsuit accusing it of overpaying CEO Tim Cook and other top executives by tens of millions of dollars, after a federal judge on Wednesday dismissed the case (via Reuters).
The plaintiff, a pension fund affiliated with the International Brotherhood of Teamsters, said Apple in 2021 and 2022 awarded a respective $92.7 million and $94 million to Cook and four other executives by improperly calculating the value of performance-based stock awards. The plaintiff argued its compensation committee intended to award just $77.5 million each year.
The alleged error was attributed by the pension fund's lawyers to the committee's improper calculation of the restricted stock unit's "fair values" at the time of the grants, and said it misled shareholders who would be casting advisory votes on executive compensation, known as "say-on-pay."
U.S. District Judge Jennifer Rochon disagreed, however, saying Apple described its pay methods in detailed compensation tables in its 2023 proxy statement "precisely," as securities laws and U.S. Securities and Exchange Commission rules require.
The Manhattan judge also found no proof that Apple's board of directors acted improperly in awarding pay, and said the plaintiff did not give the board enough time to consider its objections before suing.
Apple proxy filings show Cook's compensation totaled about $99 million in both 2021 and 2022, including more than $82 million of stock awards each year. Cook's total pay declined to $63.2 million for 2023.
Popular Stories
The iPhone 17 Pro and iPhone 17 Pro Max are three months away, and there are plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models as of June 2025:Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone X through iPhone 14 Pro have a...
iPadOS 26 allows iPads to function much more like Macs, with a new app windowing system, a swipe-down menu bar at the top of the screen, and more. However, Apple has stopped short of allowing iPads to run macOS, and it has now explained why.
In an interview this week with Swiss tech journalist Rafael Zeier, Apple's software engineering chief Craig Federighi said that iPadOS 26's new Mac-like ...
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models simultaneously, which is why we often get rumored features months ahead of launch. The iPhone 17 series is no different, and we already have a good idea of what to expect from Apple's 2025 smartphone lineup.
If you skipped the iPhone...
Alongside WWDC this week, Logitech announced notable new accessories for the iPad and Apple Vision Pro.
The Logitech Muse is a spatially-tracked stylus developed for use with the Apple Vision Pro. Introduced during the WWDC 2025 keynote address, Muse is intended to support the next generation of spatial computing workflows enabled by visionOS 26. The device incorporates six degrees of...
With iOS 26, Apple has introduced some major changes to the iPhone experience, headlined by the new Liquid Glass redesign that's available across all compatible devices. However, several of the update's features are exclusive to iPhone 15 Pro and iPhone 16 models, since they rely on Apple Intelligence.
The following features are powered by on-device large language models and machine...
Apple this week announced that iPhone users will soon be able to watch videos right on the CarPlay screen in supported vehicles.
iPhone users will be able to wirelessly stream videos to the CarPlay screen using AirPlay, according to Apple. For safety reasons, video playback will only be available when the vehicle is parked, to prevent distracted driving. The connected iPhone will be able to...
iOS 26 features a whole new design material that Apple calls Liquid Glass, with a focus on transparency that lets the content on your display shine through the controls. If you're not a fan of the look, or are having trouble with readability, there is a step that you can take to make things more opaque without entirely losing out on the new look.
Apple has multiple Accessibility options that ...
Apple today added Mac Studio models with M4 Max and M3 Ultra chips to its online certified refurbished store in the United States, Canada, Japan, Singapore, and many European countries, for the first time since they were released in March.
As usual for refurbished Macs, prices are discounted by approximately 15% compared to the equivalent new models on Apple's online store. Note that Apple's ...
Apple today provided developers with a revised version of the first iOS 26 beta for testing purposes. The update is only available for the iPhone 15 and iPhone 16 models, so if you're running iOS 26 on an iPhone 14 or earlier, you won't see the revised beta.
Registered developers can download the new beta software through the Settings app on each device.
The revised beta addresses an...
