Apple Increases CEO Tim Cook’s Pay by 18% to $74.6 Million, Rejects Anti-Diversity Proposal Ahead of AGM

Apple Inc. has raised CEO Tim Cook’s compensation by 18%, bringing it to $74.6 million for 2024, attributing the increase to a higher value of his stock award, as reported by Bloomberg. This move comes ahead of the company’s Annual General Meeting (AGM) scheduled for February 25, 2025, where investors will vote on four external proposals, including one regarding Cook’s salary. However, Apple has opposed all other proposals, including a shareholder-driven initiative to end the company’s diversity, equity, and inclusion (DEI) program.

In a proxy filing on January 10, Apple revealed that Tim Cook’s compensation rose to $74.6 million in 2024, up from $63.2 million in 2023. The company attributed the increase primarily to a higher value of his stock award.

In a proxy filing on January 10, Apple disclosed that Tim Cook’s compensation for 2024 rose to $74.6 million, up from $63.2 million in 2023. The increase was primarily attributed to a higher stock award value.

In 2024, Tim Cook’s pay package included a base salary of $3 million, stock awards valued at $58.1 million, and additional compensation of approximately $13.5 million. While this marks a significant increase from 2023, it remains lower than Cook’s 2022 salary of nearly $100 million, which was largely driven by stock awards. Following criticism from employees and shareholders, Cook voluntarily reduced his pay in 2023. Apple’s board of directors confirmed that there would be no changes to Cook’s total target compensation for 2025.