Tuesday, 11 December, 2018

Why Apple's Board Is Requiring CEO Tim Cook to Only Fly Private

Why Apple's Board Is Requiring CEO Tim Cook to Only Fly Private Why Apple's Board Is Requiring CEO Tim Cook to Only Fly Private
Derrick Tucker | 29 December, 2017, 01:09

Cook's earnings increase came largely from a boost in incentive pay; he earned $5.4 million previous year.

Cook's real wealth comes from his stock options. It could have made even more this quarter given it coincides with the launch of Apple's anniversary phone, coupled with increased sales this holiday season - analysts said six million iPhone Xs were sold over Black Friday.

This year, Apple saw a major rebound across almost all of its categories. "As we approach our holiday season, we expect it to be our biggest quarter ever".

By far the largest payout went to Apple's CEO, Tim Cook, who not only received a cushy $9.33 million performance bonus for the year, but also took home $3.06 million in salary and a previously disclosed $89.2 million equity award for serving faithfully as Apple's CEO since 2011. Separately, his received a massive increase in his annual bonus, thanks to earnings rebound for the company. His total compensation for the year reached $102 million.

The other five executives each earned more than $24 million.

Senior retail vice president Angela Ahrendts eked out the highest paid honor by less than $100,000 due to additional compensation to help Ahrendts - the former Burberry CEO - move "closer to Apple's headquarters", according to the SEC filing.

Jaish big gun, just taller than AK-47
After receiving a tip-off his hiding the J&K Police launched a search operation on Monday night in south Kashmir's Samboora. Noor Mohammad Tantray, a Jaish-e-Mohammed (JeM) terrorist was gunned down in the Kashmir valley on Tuesday morning.

Metro Detroit Weather: More snow on the way this Christmas day
Bitterly cold air moves in with low temperatures dropping to 8 degrees north of I-70 to 12 degrees at the Lake of the Ozarks. The National Weather Service has issued a wind chill advisory for an area of Wisconsin that includes Kenosha County.

Kylie Jenner Confirms She Was at Her Family's Christmas Party!
They pouted up a storm for a joint picture before Kim zoomed in on Khloe's rounded tum, over which she'd placed a protective hand. It is the first time since rumors of her pregnancy broke that her followers have had a concrete time line.

The filing noted that the value of the private flights is calculated as "imputed taxable income" which is not reimbursed by Apple.

Cook's personal travel cost came to $93,109 in fiscal 2017, according to the filing. In addition to this is the personal security cost which can be rounded off to around $224,216.

Celebrity status? For his safety, Apple's board also implemented a policy requiring Cook to "use private aircraft for all business and personal travel".

During 2017 Tim Cook's personal security costs were calculated at nearly half a million dollars, ($224,216.00), alongside a $93,109 bill for traveling on private jets for non-business trips.

The raises come after a strong financial year for Apple which saw revenue growth in both hardware products like its phones and computers as well as digital services like Apple Pay, Apple Music and its App Store.

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