Apple Proxy Statement Reveals Executive Pay Between 2011-2013

Apple Proxy Statement Reveals Executive Pay Between 2011-2013


As highlighted by the folks over at 9to5Mac, Apple today published a (preliminary) proxy statement to its investor website. The document, alongside advising the board to vote against the recent proposal by investor, Carl Icahn, to increase the company’s stock buy-back program, includes details on annual pay for the company’s top 5 executives.

For example, in 2011, we learn that now Apple CEO – Tim Cook – received a salary of $900,017. However, he was later awarded stock options to the total of $376,180,000 and saw compensation of other means to the total of $16,520, bringing the executive’s haul for fiscal 2011 to $377,996,537.

Since then, the CEO has earned – on average$4 Million per annum.

The company’s second highest-paid executive is Peter Oppenheimer, who currently acts as one of the firm’s Senior Vice Presidents, and carries out the role of Chief Financial Officer. In 2011, Oppenheimer received $700,014 in salary, receiving a further $700,000 in non-equity inventive plan compensation. He also later received $16,129 in compensation of other means, meaning Oppenheimer’s total salary for fiscal 2011 was $1,416,143.

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In 2012, Oppenheimer was awarded $66,169,750 worth of stock options, $1,600,000 in non-equity inventive plan compensation and a further $16,412 in compensation of other means. This brought the executive’s pay packet to $68,591,562 for the year, according to the document.

Eddy Cue, the third highest-paid executive at Apple, has seen two stock option awards in the last 36 months. The first for $51,852,000, and the most recent for $47,975,262. His salary this year will be $2,647,105, according to the document.

It’s worth noting that stock option awards don’t necessarily vest at the point they’re awarded. So, it may be a while before some of the company’s executives listed above actually receive the stock option amounts shown.

Either way, this document ultimately goes to prove just what levels the salary pay-outs for some of the top executives can reach, when working at the helm of a Fortune 10 company.

/ Image Credit: BusinessInsider