Feeds

Apple supremo Tim Cook's pay packet SLASHED 99% in 2012

Man, those shoes look a little big on you

Beginner's guide to SSL certificates

Apple boss Tim Cook took a 99 per cent pay cut in 2012 - the year his firm's maps crapp confused iPhone fanbois and rival Android dominated the mobile market.

The chief executive took home a paltry $4.17m in salary and a non-equity bonus, according to paperwork just filed with US financial regulator the SEC, down from the $378m he received in stock options and other compensation in 2011. His huge award that year was one of the biggest pay packages in history and came after Cook succeeded the late Apple co-founder and CEO Steve Jobs.

That's the reason for this year's apparent severe drop: in 2011, Apple compensated Cook with one million restricted shares that will vest over the next decade for taking the iPhone maker's throne. In 2012, his base salary actually went up half a million dollars, year on year, but there were no extra stock options.

“It pales by comparison because last year’s million-share grant was highly extraordinary,” Brian Foley, a compensation expert, told Bloomberg.

“There are other executives who remain unnamed at other companies who would be tempted to go for every last candy in the dish.”

Cook's award this year is also many times smaller than his 2010 compensation deal when he was chief operating officer. Meanwhile, for 2012, Apple's senior veep of technologies Bob Mansfield received $85.5m, and its chief financial officer Peter Oppenheimer was given $68.6m.

Both packages include stock options. The iPad maker has a market cap north of $480bn. Fanbois may recall that Jobs famously gave himself a salary of $1 at Apple but held shares worth billions.

Cook was also a runner-up in this year's Time Person of the Year award, beaten by President Barack Obama and Pakistani activist teen Malala Yousafzai. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.