Tim Cook’s total pay package for leading Apple fell sharply in 2012, although the technology group’s chief executive saw a big rise in paper gains on stock awarded in previous years.
Including stock awards, Mr Cook’s total pay fell by 99 per cent to $4.17m for the year to September 29, according to a filing yesterday to the US Securities and Exchange Commission.
Mr Cook’s base salary was raised 51 per cent to $1.4m but he received no equity awards after his grant of 1m shares in 2011 which vest to the chief executive over a five- to 10-year timeframe as long as he remains with the company.
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