Apple CEO Tim Cook's Annual Pay Jumps 47 Percent to $12.8 Million

Tim Cook

Tim Cook

The Apple CEO now has to fly private, even for personal travel on orders of Apple's board of director. The flight policy was implemented in the interest of efficiency and security in 2017, based on the highly visible role as CEO of Cook.

Apple CEO Tim Cook's paycheck got a hefty addition thanks to the tech giant's performance boost in 2017.

Cook's pay increase in the company's 2017 fiscal year came mostly from cash bonuses, adding about $9.3 million to Cook's roughly $3 million annual salary.

After the release of the iPhone X, the U.S. tech giant recorded a strong net profit of 19% from a year ago to $10.7 billion in the fiscal fourth quarter to September 30.

Cook is getting the mandatory perk that cost the company $US93,109 ($A119,459) this year for personal trips alone, The New York Post reports.

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Cook's actual salary saw a comparatively smaller $57,692 increase, but the bulk of his nearly $4 million raise came from performance-based cash bonuses. Apple's SVP of retail Angela Ahrendts and SVP of hardware technologies Johny Srouji brought in about $24.2 million for the year.

In documents filed with the United States markets regulator, Apple said the policy was "in the interests of security and efficiency". This makes his total compensation package of 2017 as being somewhere around $102 million.

The raises come after a strong financial year for Apple which saw revenue growth in both hardware products like its phones and computers as well as digital services like Apple Pay, Apple Music and its App Store.

As a result, the value of Cook's compensation also included "security expenses in the amount of $224,216" and "personal air travel expenses in the amount of $93,109".

Shareholders who feels like attending the shareholders meeting that will take place in the Apple Park, at Steve Jobs Theatre, requires registering themselves using the Proxyvote.com beginning at 8:00 am on 22 January, 2018.

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