Apple’s annual proxy statement filed with the Securities and Exchange Commission has revealed details about the compensation plans paid to the company’s senior executives in 2014. CEO Tim Cook received a total of $9.2 million last year, which included his base salary of $1.7 million in addition to other forms of compensation. Cook also received $56,923 for his unused vacation days, and the company paid security expenses for him in the amount of $699,133.
Notably, Cook’s compensation last year came in well behind that of new retail chief Angela Ahrendts, who received $73 million for leaving her position as CEO of Burberry to join Apple. Ahrendts base salary was $400,000, and she received a $500,000 bonus for joining Apple along with other forums of compensation as a “transition package” designed to account for the much more lucrative compensation arrangement she had at Burberry and her unvested equity in that company, estimated to be worth approximately $37 million. The statement also reveals that Ahrendts had received “cash and perquisites” at Burberry in excess of $5 million annually, placing her among the highest paid UK executives and dwarfing the cash opportunities provided to Apple’s other executives.
The 80-page proxy statement includes numerous additional details, ranging from details on major shareholders and vested stock options to biographies on members of the Board of Directors and Senior Executives.