Apple CEO gets $378m for 2011

Apple CEO Tim Cook took home salary and share options worth $378m last year

Tags: Apple Incorporated
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Apple CEO gets $378m for 2011 Tim Cook's remuneration package is worth $378m at today's share price. (Getty Images)
By  Mark Sutton Published  January 10, 2012

Apple's CEO Tim Cook will receive a compensation package for 2011 worth $378 million, according to financial filings.

Cook had a base salary of $900,000 for 2011, but this was boosted with $376.2 million in shares that will vest starting in five years. The company had already announced that Cook had received 1 million restricted shares in August.

According to Bloomberg, the package was agreed by the Apple board to ensure that Cook did not pursue other opportunities.

Steve Jobs, Apple's previous CEO, famously only took a salary of $1 per year, although this was also bolstered with stock grants. When he died in October last year, Jobs held some 5.5 million Apple shares.

Other members of Apple's executive team also gained stock options in 2001, including software executive Scott Forstall, hardware manager Bob Mansfield, CFO Peter Oppenheimer, marketing chief Phil Schiller, general counsel Bruce Sewell and operation manager Jeff Williams who each received 150,000 restricted shares, which vest between 2013 and 2016; and Eddy Cue, who handles Internet software, who received 100,000 shares after having received another 100,000 when he was promoted to senior vice president last year.

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