Apple CEO Tim Cook Got $378 Million Compensation Package in 2011

Kurt
January 10, 2012 09:07 AM

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Former CEO Steve Jobs used to get only a $1 salary.

NEW YORK - Technology giant Apple said in a regulatory filing late Monday that Tim Cook's 2011 compensation amounted to nearly $378 million, including a salary of $900,000.

Former CEO Steve Jobs, who died last year, traditionally got paid an annual salary of only $1.

Cook's salary reached about $900,000 last year, with the vast majority of his compensation coming in the form of a restricted stock grant. Since that stock vests over a decade, it is designed to be a long-term incentive. In November, Cook's annual salary was raised to $1.4 million.

Apple's stock on Monday hit an all-time high of $427.75 before closing slightly lower.

Apple suggested that all its current board members, including Walt Disney CEO Robert Iger, be reelected at its annual meeting next month.

Hollywood Reporter