Apple CEO Tim Cook made $15 million in 2018
Cook's compensation was 283 times the median for Apple employees.
Tim Cook earned more than $15 million in compensation in 2018.
Apple 's CEO got a hefty raise in 2018.
Tim Cook received a total of $15.6 million in salary, incentive pay and other compensation last year, according to a Securities and Exchange Commission filing Tuesday. The compensation represented an increase of nearly 22 percent over 2017.
Cook earned a salary of $3 million, along with $12 million in cash incentives based on Apple hitting certain goals. Other compensation included 401(k) contributions, life insurance payments and a vacation time buyout of $57,692. He also got $294,082 in personal travel expenses.
The filing comes a week after Apple warned investors that its fiscal first-quarter revenue would be weaker than previously expected. The announcement that the iPhone maker now sees sales of $84 billion, well below the range of $89 billion to $94 billion it had forecast in November, sent company shares down nearly 10 percent.
Apple also said the total 2018 compensation for its median employee was $55,426, noting that Cook made 283 times this amount. The company's workforce includes employees at its retail locations.
Other key Apple executives were also well compensated, thanks largely to stock grants. COO Jeff Williams, CFO Luca Maestri, general counsel Kate Adams and retail chief Angela Ahrendts all had total compensation packages that exceeded $26 million with the addition of stock awards of more than $21 million each.
"We believe the compensation paid to our named executive officers for 2018 appropriately reflects and rewards their contribution to our performance," Apple said in the filing.
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