APPLE CEO TIM COOK TO TAKE MORE THAN 40% PAY CUT

Apple CEO Tim Cook will take a more than 40% pay cut this year from a year earlier as the company adjusts how it calculates his compensation partly based on a recommendation from Cook himself.

- 

Apple Inc. said in a regulatory filing that Cook’s target total compensation is $49 million for 2023, with a $3 million salary, $6 million cash incentive and $40 million in equity awards.

Last March the Cupertino, California, company conducted an advisory shareholder vote on executive pay with 6.21 billion shares voting in favor of the executive pay package and 3.44 billion against. There were also abstentions and broker non-votes.