Billionaire Apple CEO, Tim Cook, has seen his $99 million pay package called into question by shareholder advisory firm Institutional Shareholder Services, which noted that the award lacks performance criteria.
Cook’s stellar pay package is largely due to $82 million in stock awards and $12 million for targets reached, added to a $3 million base salary.
His pay package is closely linked to the stellar performance of Apple’s stock, which saw 400% growth over the last five years, becoming the first company ever to be valued at $3 trillion.
The last year also marked a sea-change is Apple’s net income which fluctuated between $41 billion and $60 billion in the period between 2012 and 2020, but leaped to $95 billion in 2021.
The shareholder vote on Cook’s pay package will not be binding for the company.
