Apple CEO Tim Cook earned $74.6 million in 2024, up from $63.2 million in 2023, Apple said in its annual proxy filing.
Cook’s earnings included a $3 million base salary, $58 million in stock awards, $12 million in performance-based awards, and $1.5 million in other compensation, such as 401(k) contributions, life insurance premiums, vacation cash-out, security expenses, and personal air travel expenses. Cook is required by Apple to use private aircraft for both business and personal travel.
Apple set a target compensation of $59 million for Cook, but Cook earned more through the cash incentive payout that executives receive when Apple performs well.
Though Cook’s 2024 compensation exceeded what he earned in 2023, it was still down from the $99 million that he was awarded in 2022. Cook and the Board of Directors opted to decrease Cook’s total compensation after his 2022 earnings reached almost $100 million.
Other Apple executives, including Luca Maestri, Kate Adams, Deirdre O’Brien, and Jeff Williams, earned $27.2 million.
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