Apple CEO Tim Cook received nearly $100 million in compensation in fiscal 2021 in what was another strong year for the iPhone maker, according to an SEC filing published Thursday. Cook, 61, earned $98.73 million in total compensation. The sum included more than $82 million in stock awards, a $12 million bonus tied to internal performance targets, a $3 million base salary and about $1.4 million in other compensation. For Cook, the year marked a decade of service as Apple’s CEO. The tech giant reported annual sales of nearly $366 billion despite the ongoing impact of the COVID-19 pandemic and supply chain issues that have complicated production. “In 2021 we marked the 10th anniversary of Tim Cook’s leadership as CEO,” Apple said in the filing. “It’s been a remarkable decade for Apple and in 2021 Mr. Cook was granted an equity award for the first time since he was promoted to CEO in August 2011.” Of the $82 million in stock awards, about $44.8 million came in the form of performance-based restricted stock units. The remaining $37.5 million will be dispersed in three tranches starting in 2023. The $1.4 million in other compensation includes Cook’s air travel, 401(k), life insurance, security and vacation cash-outs. Cook’s pay rose significantly compared to the previous fiscal year, when the Apple CEO received $14.8 million in compensation. In 2021, he earned more than 1,400 times the pay of Apple’s average employee, according to Reuters. Earlier this week, Apple became the first company in history to achieve a $3 trillion market valuation. The tech giant has since fallen back below the historic threshold.
