Cook to adjust his compensation in light of the feedback received.Įssentially, the “Say on Pay” advisory vote results in 2022 revealed that support for Apple’s executive compensation in 2021 had declined significantly compared to previous years. The Compensation Committee balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr. The results of the 2022 Say on Pay advisory vote led to broader shareholder engagement on executive compensation in 2022 of approximately 53% of institutional shares held. The Compensation Committee evaluates and makes compensation decisions prior to the start of each fiscal year. According to today’s filing, Cook himself recommended that his compensation structure be adjusted based on feedback received as part of the Compensation Committee’s “Say on Pay” survey and vote.
Here’s why Tim Cook is taking a ~$50 million pay cutĪpple’s board of directors has a Compensation Committee that oversees things like executive compensation.
Cook’s annual target compensation between the 80th and 90th percentiles relative to our primary peer group for future years. Taking into consideration Apple’s comparative size, scope, and performance, the Compensation Committee also intends to position Mr. Cook’s 2023 target total compensation is $49 million, a reduction of over 40% from his 2022 target total compensation. In today’s filing, Apple explains that Tim Cook will have a “target compensation of $49 million” in 2023, a decline of around 40% compared to what he earned in 2022: This year, the filing has revealed that Tim Cook will take a significant pay cut in 2023 after he himself suggested that his compensation be adjusted in light of feedback.
Tim cook mac q3miller9to5mac pro#
Developers on Unity Software’s platform, a popular videogame engine, will also have access to Vision Pro tools, which vaulted company’s stock up 16%.Apple today published its annual proxy statement for investors, revealing a number of details about executive compensation, shareholder proposals, and more. Industry partners for the new headset include Disney, whose CEO Bob Iger was part of the presentation and said his company’s streaming service will be available on the Vision Pro.But after the higher-than-expected price was announced, shares swiftly dipped and reached their lowest point of the day after the presentation. Apple stock hit an all-time high ahead of today’s WWDC as headset-hype built.
A new Mac Pro desktop with the new M2 Ultra chip will be $6,999. A new 15” MacBook Air will weigh only 3.3 pounds and start at $1,299.Filling PDFs, automatic transcription, suggesting journal prompts and re-creating your face in augmented reality are some of the AI features touted. While more cautious than other companies, Apple highlighted AI tools peppered throughout its products.The Vision Pro will usher in “spatial computing” in the way that the iPhone sparked mobile computing, the company said. Apple’s much-awaited headset will cost $3,499 and come in early 2024.Here are the key takeaways from Apple’s developer conference Monday:
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