Apple filing reveals executive compensation plans, earnings

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.

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