Ahrendts’ salary is down substantially from the prior year, when Apple offered her a lucrative package to leave her job with the luxury retailer and revitalize Apple’s online and brick-and-mortar stores. The information arrives courtesy of the U.S. Securities and Exchange Commission, which has just published Apple’s annual proxy statement.
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According to a regulatory filing, Cook’s base pay increased about 14.4% to $2M, while non-equity incentive compensation rose about 19% to $8M.
Apple CEO Tim Cook got a raise of more than $1 million past year, though he didn’t make as much as his top lieutenants.
On the executive team at Tim Cook’s Apple Inc., everybody’s equal.
Cook also sat below senior vice president in charge of internet, software and services Eddy Cue, senior vice president in charge of hardware engineering, Dan Riccio, and general counsel and secretary Bruce Sewell in the pay rankings.
Apple earned a record $53 billion profit on sales of $233.7 billion in the fiscal year ending in September.
The company hit a rough patch towards the end of 2015, with shares falling about 4.6 per cent for the year, the stock’s first negative year since the global credit crisis. He holds stock worth $57.7 million – an amount that doesn’t include the $479 million current value of shares he was granted in 2011 when he was named Apple chief executive, but have not yet been earned or vested.
Apple is set to share its Q1 2016 earnings on January 26th, which should offer more insight into the company’s performance throughout 2015.
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Shares of the world’s most valuable company dropped below $100 for the first time in almost five months on Wednesday before closing at $100.70.
