Apple CEO Tim Cook’s Salary for 2011 Revealed

Steve Jobs earned his usual $1 in annual compensation

Apple’s 2012 proxy statement reveals that the newly instated CEO, Timothy D. Cook, received an annual salary of $900,000, whereas Steven P. Jobs was credited his annual $1 compensation.

According to the 2012 Proxy Statement posted online by Apple this week, “As of the end of 2011, Mr. Jobs owned approximately 5.5 million shares of the Company’s common stock. Since rejoining the Company in 1997, Mr. Jobs had not sold any of his shares of the Company’s stock. Mr. Jobs held no unvested equity awards.”

“The Company recognized that Mr. Jobs’s level of stock ownership significantly aligned his interests with shareholders’ interests,” the document reads.

As the screenshot below shows, Steve Jobs was credited his $1 annual salary last year.

As for Tim Cook, the document shows a five-figure salary ($900,000) and a nine-figure compensation worth nearly $378 million last year.

Cook was recently awarded a stock bonus as the company’s new CEO. Per the Apple’s 2012 Proxy Statement, “In connection with Mr. Cook’s appointment as CEO and as noted above, the Board granted Mr. Cook 1,000,000 RSUs as a promotion and retention award.”

“Fifty percent (50%) of Mr. Cook’s award is scheduled to vest on August 24, 2016 (five years after the award date) and fifty percent (50%) of Mr. Cook’s award is scheduled to vest on August 24, 2021 (ten years after the award date), subject to Mr. Cook’s continued employment with the Company through the applicable vesting date.”

In related news, Apple’s stock soared to an all-time high yesterday reaching a value of $427.75 per share in mid-day trading.

The company will host a conference call webcast discussing its first quarter’s financial results at 2:00pm PT/5:00pm ET on Tuesday, January 24, 2012.


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