Apple CEO Tim Cook Earned $63.2 Million in 2023

Apple CEO Tim Cook earned $63.2 million in 2023, down from $99.4 million in 2022, according to the Apple proxy statement that was released today.

Cook's total earnings included a $3 million base salary, $47 million in stock awards, $10.7 million in performance-based bonus awards, and $2.5 million in other compensation, which included 401(k) contributions, term life insurance premiums, vacation cash-out, security expenses, and personal air travel expenses.

Cook owns a total of 3,280,053 shares of Apple stock at the current time, as well as an additional 1,291,086 RSUs that have not yet vested.

In 2023, Apple's board of directors, shareholders, and Cook himself decided to decrease Cook's compensation. His target award was $49 million, which was ultimately exceeded due Apple's performance. For 2024, Cook's target equity award is set at $50 million, with 75 percent of that subjected to performance-based vesting.

Other senior executives, including Luca Maestri, Kate Adams, Deirdre O'Brien, and Jeff Williams, earned approximately $27 million each, most in the form of stock awards.