Billionaire Apple CEO Tim Prepare dinner was paid $98 MILLION in 2021 – and can also be now in a position to promote $754m of his firm shares

  • Tim Prepare dinner, 61, earned $98million within the 2021 fiscal yr and gained entry to $754million in firm shares 
  • Prepare dinner, who’s price $1.5billion, earned most of his annual earnings by inventory awards equaling $82million, which aren’t accessible to him but 
  • His inventory awards, which have been introduced in September 2020, are available two elements, with the primary half turning into accessible to him in October 2023
  • On prime of Prepare dinner’s $3million wage, he earned $12billion in bonuses and $1.39 in compensation for his 401(ok), life insurance coverage, trip payout, and extra 
  • Prepare dinner joined the billionaire’s membership in August 2020 and is among the uncommon tech giants who prime the checklist that did not begin the corporate  

Apple CEO Tim Prepare dinner obtained an enormous $98million payout in 2021, whereas additionally having access to $754million in firm shares. 

Prepare dinner, 61, who’s price $1.5billion, loved the luxurious earnings through the 2021 fiscal yr, which resulted in September, in keeping with SEC filings. 

He additionally now has entry to $754million in firm shares that vested in August from an previous grant, though it’s unclear if he has chosen to promote any of that inventory. Prepare dinner moreover sits on shares price $37.5million within the firm that can vest yearly over three years beginning in 2023. 

His earnings rose after Apple had a stellar yr – the corporate earned $365million in gross sales and had a 33 per cent development in income. 

Apple CEO Tim Cook, 61, earned $98million in the 2021 fiscal year

Apple CEO Tim Prepare dinner, 61, earned $98million within the 2021 fiscal yr 

Among the many $98million Prepare dinner earned within the 2021 fiscal yr, $3million of it was his annual wage and he earned one other $12million in bonuses for hitting Apple’s monetary and environmental sustainability objectives. 

He additionally obtained a big compensation of $1.39million that together with: private air journey, safety, 401(ok), and life insurance coverage, and trip payout. 

Nevertheless, nearly all of the tech large’s annual earnings come from inventory awards. His 2021 awards earned him $82.35million. 

Though Prepare dinner cannot entry the shares but, because it’s a part of a five-year deal and is available in two elements, the awards have been introduced on the primary day of the 2021 fiscal yr, which began in September 2020.

On top of his $3million salary, Cook earned $82million in stock awards, and $12million in bonuses for hitting Apple's financial and environmental sustainability goals

On prime of his $3million wage, Prepare dinner earned $82million in inventory awards, and $12million in bonuses for hitting Apple’s monetary and environmental sustainability objectives 

An enormous 333,987 shares – presently price $172 every – will vest in three years, beginning in 2023, and Prepare dinner will obtain these even when he retires. 

The opposite half is performance-based and can turn out to be accessible to Prepare dinner in October 2023. These shares – which begin at 333,987 as properly – might go larger or decrease primarily based on how the corporate’s inventory does, however was valued at nearly $45million when it was first introduced. 

Prepare dinner will even obtain these shares if he retires, nonetheless, the board of administrators can cease it in the event that they select to take action. 

Prepare dinner’s efficiency can also be in comparison with the likes of Tesla, Microsoft, and Meta – previously often called Fb.  

That is Prepare dinner’s first fairness award since turning into CEO in 2011. 

‘It’s been a exceptional decade for Apple and in 2021 Mr. Prepare dinner was granted an fairness award for the primary time since he was promoted to CEO in August 2011,’ Apple stated within the SEC filings. 

Prepare dinner joined the billionaire’s membership in August 2020 and is a uncommon breed among the many likes of Tesla’s Elon Musk and Amazon founder Jeff Bezos. Not like Musk and Bezos, Prepare dinner didn’t discovered Apple, and it is uncommon for a non-founder to enter the ranks of the billionaire’s membership, in keeping with the Verge.