Apple CEO Tim Cook received a pay raise in the technology company’s latest fiscal year.
Cook’s annual compensation package hit $74.6 million in fiscal 2024, according to a regulatory filing with the Securities and Exchange Commission. That followed Cook receiving $63.2 million in overall pay in fiscal 2023 and $99.4 million a year earlier.
For the latest fiscal year, Cook earned a $3 million base salary, the same he received in the previous two years, and another $58 million in stock awards.
His pay package for fiscal 2024 included $12 million in non-equity compensation and $1.52 million in other compensation.
That compares with fiscal 2023 when Cook received $46.9 million in stock awards, another $10.7 million from non-equity compensation and $2.5 million in other compensation.
Besides being measured by Wall Street for all-important iPhone device demand, investors also look to key Apple revenues from its Apple TV+, Apple Music and iCloud offerings. The tech behemoth is also developing Apple Intelligence, or an artificial intelligence system for its iPhones and Mac computer products.
In Oct. 2024, Apple reported its services business hit revenue of $24.97 billion in the company’s fourth quarter, representing a new all-time high for the company.
Also in Apple’s SEC filing on Friday, CFO Luca Maestri received an overall pay package edging up to $27.1 million for fiscal 2024, compared to a year-earlier $26.9 million. And Jeff Williams, COO, saw his 2024 pay package also rise slightly to $27.1 million in total, against a year-earlier $26.9 million.
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