That’s a drop of more than 40 percent from last year.
The Apple CEO’s target compensation will be lowered by more than 40 percent in 2023, according to the company’s latest proxy filing.Photo by Kevin Mazur / Getty Images
Apple CEO Tim Cook is taking a big pay cut — at his own recommendation. Cook’s target compensation will be decreasing by $35 million, according to, dropping from $84 million in 2022 to $49 million in 2023. That’s a drop of more than 40 percent. The changes come entirely from an adjustment in his equity award value, which makes up the bulk of Cook’s total compensation. In 2022, that value was estimated to be worth $75 million, but this year, that estimate drops to $40 million. His base salary of $3 million and his annual cash incentive of $6 million will remain the same.To set Cook’s new pay, the compensation committee on Apple’s board “balanced shareholder feedback, Apple’s exceptional performance, and a recommendation from Mr.
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