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dpa-AFX: Apple CEO Tim Cook's 2014 Total Compensation More Than Doubles To $9.22 Mln

| Quelle: dpa-AFX Analysen
CUPERTINO (dpa-AFX) - US technology giant Apple, Inc. (AAPL) revealed in a regulatory filing on Thursday that Chief Executive Officer Timothy Cook received a 2013 total compensation that more than doubled from last year. Cupertino, California-based Apple revealed this in an annual preliminary proxy statement filed with the U.S. Securities and Exchange Commission on Thursday. Cook, who has led Apple for more than three years since August 2011, received a total compensation of $9.22 million, including base salary, incentives and other compensation in 2014, compared to the $4.25 million he received last year, and the $4.17 million he got in 2012. The total compensation received by Cook in 2014 includes $1.75 million as salary, non-equity incentive plan compensation of $6.70 million, and all other compensations totaling 0.77 million. Cook's salary was up compared to $1.40 million in 2013 and $0.9 million in 2011. There were no bonus and stock awards. However, non-equity incentive plan compensation more than doubled from $2.80 million in 2013 and 2012. All other compensations were also sharply higher than the $0.05 million in 2103. The base salaries for most of the executive officers other than Cook were increased to $947,596 from $875,000 in 2013. In February 2014, the compensation committee increased Cook's base salary from $1.4 million to $2 million and the base salaries of the other executive officers from $875,000 to $1 million. The change was the first increase to Cook's salary since November 2011. Cook was promoted to CEO in August 2011 just a month before Apple co-founder Steve Jobs died. At that time, the board granted Cook one million RSUs as a promotion and retention award. Fifty percent of the RSU award is scheduled to vest on August 24, 2016, and the remaining fifty percent is scheduled to vest on August 24, 2021. Cook, age 53, has served as CEO since August 2011 and and was previously the company's chief operating officer since October 2005. He joined the company in March 1998 and served as executive vice president of worldwide sales and operations from 2002 to 2005. In 2004, his responsibilities were expanded to include the Company's Macintosh hardware engineering. From 2000 to 2002, Cook served as senior vice president of worldwide operations, sales, service and support. He also served as senior vice president of worldwide operations from 1998 to 2000. He has served as a director of Nike, Inc. (NKE) since November 2005. Meanwhile, the filing also shows a 72 percent surge in total 2014 compensation for former Chief Financial Officer Peter Oppenheimer to $4.52 million from last year's $2.63 million. He retired in September 2014. The new CFO Luca Maestri received a total 2014 compensation of $14.00 million, including stock awards of $11.34 million. He joining Apple in March 2013 after serving as CFO at both Nokia Siemens Networks and Xerox Corp. (XRX). He succeeded Oppenheimer in June 2014. The Apple Board has nominated seven of the company's directors for re-election at the Annual Meeting on March 10, 2015. Millard Drexler, who has served on the Board since 1999, has notified the Board of his intention to retire at the end of his current term. The Board has not yet nominated an individual to fill the vacancy. AAPL closed Thursday's regular trading session at $112.40, up $2.85 or 2.60% on a volume of 53.80 million shares. Copyright RTT News/dpa-AFX
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DT7Z1C Apple Wave L 98 2015/03 (DBK) 7,075
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