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Apple: CEO Tim Cook's pay jumps almost 30%

( - Apple's Chief Executive Tim Cook's total compensation jumped nearly 30% in 2020 to 14.
8 million dollars, the tech company said in a securities filing late on Tuesday.

Tim Cook's compensation rose from 11.5 million dollars in 2019, but still down from 15.7 million dollars in 2018, the filing showed.

More than two-thirds of Tim Cook's pay last year came from cash incentives based on predetermined financial targets for the year and his own performance as an executive, Apple said.

His compensation for the year included three million dollars of fixed salary and over 10.7 million dollars under the form of non-equity incentive plan compensation, it added.

For the first time since he was named as CEO in 2011, Cook's 2021 compensation is expected to include a long-term equity award, Apple noted in the filing.

Surprisingly, CEO Tim Cook was not the highest paid executive at Apple in 2020 as total compensation for CFO Luca Maestri and Chief Operating Officer Jeff Williams exceeded 26.2 million dollars, due to stock awards.

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