Apple CEO Tim Cook’s 2013 compensation rises to $4.3 million

The Associated Press 0

CUPERTINO, Calif. – Apple CEO Timothy Cook received a compensation package valued at nearly $4.3 million this year, up slightly from 2012.

Cook’s pay for fiscal 2013, which ended in September, consisted of $1.4 million in salary and a bonus of $2.8 million, according to a regulatory filing Friday. Cook’s compensation also includes $52,721 in company contributions to his 401(k) account, life insurance premiums and a vacation cash-out.

The year’s pay was relatively modest compared with 2011, when he took the company’s helm. That year, Apple’s board set him up with stock now worth $510 million.

Apple itself faced some challenges in the fiscal year. It closed with a nearly 25 per cent decline in market value, or about $160 billion. Still, it remains the world’s most valued company as measured by market capitalization.

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