Apple CEO Takes Sharp Pay Cut

December 27, 2012 by Paul Ausick

Apple-storeIn a preliminary proxy statement filing, Apple Inc. (NASDAQ: AAPL) today said that CEO Tim Cook will receive $4.16 million in salary and incentive plan compensation for 2012. That is a far cry from the $378 million Cook received in 2011, the year he took the reins at Apple following the untimely death of Steve Jobs.

The largest portion of Cook’s 2011 compensation package was a stock grant of 1 million units that vested in two parts, one-half in five years and the other half in 10 years.

Shares of Apple have fallen about 27% since reaching an all-time high in September, but the stock is still up 27% for the year to date.

The company’s senior vice president of technologies, Robert Mansfield, will receive a restricted stock grant worth $83.1 million for 2012, and Apple’s other top executives will receive grants of about $66 million. Cook will receive no stock award in 2012.

Apple’s shares closed at $513.00 last night and are up slightly in premarket trading this morning. The 52-week range is $400.51 to $705.07.

Paul Ausick

Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.