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Apple's Tim Cook Earned $10.3 Million In 2015

Apple CEO Tim Cook netted a little over $10 million in 2015, according to new filings with the SEC. However, other top executives at the company earned more than double that in yearly compensation.

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Apple's latest filing with the Securities and Exchange Commission (SEC) revealed interesting details about the company's executive team and its compensation, including CEO Tim Cook's salary for 2015.

Cook took down roughly $10.3 million last year, a slight bump from the $9.2 million he earned in 2014. In addition, he holds more than 3 million shares of stock that have not yet vested, which are valued at a bit more than $350 million.

Among the other members of the executive team Eddy Cue, senior vice president of Internet software and services; Dan Riccio, senior vice president of hardware engineering; and Bruce Sewell, general counsel and senior vice president of legal and global security, all earned about $25 million in 2015.

Apple's retail chief Angela Ahrendts earned $25.7 million, down substantially from the $73.4 million she made in 2014, while the company's CFO Luca Maestri earned $25.3 million, up from $14 million in 2014.

(Image: EdStock/iStockphoto)

(Image: EdStock/iStockphoto)

Ahrendts, Cue, Riccio, and Sewell each earned a $1 million salary, while Cook took home $2 million in cash incentive. All the executives except Cook received $20 million in new stock awards, according to the SEC papers.

One notable figure missing from the filing was Apple's head of design Jony Ive, the man responsible for most of the company’s best-selling devices.

Apple's conference call to discuss first fiscal quarter results is scheduled for Tuesday, Jan. 26, which will shed some additional light on the company's financial state. Executives will likely discuss reports of a slowdown in production of the iPhone, the company's best-selling product, which have battered the company's share price in recent days.

The SEC filing comes in the wake of a minor executive shakeup at the consumer electronics giant, including Jeff Williams being named chief operating officer (COO). Johny Srouji is also joining Apple's executive team as senior vice president for hardware technologies.

The appointment marks the return of the company's first COO since 2011, a title Cook relinquished to succeed Steve Jobs as chief executive.

In addition to those changes, Phil Schiller, Apple's senior vice president of worldwide marketing, will see his role expanded to include leadership of the App Store across all Apple platforms, and Tor Myhren will join the company in the first calendar quarter of 2016 as vice president of marketing communications, replacing Hiroki Asai, who earlier announced plans to retire after 18 years in graphic design and marketing communications roles.

[Was Tim Cook wrong about US taxes? InformationWeek looks at the issue.]

It will take some time to see how Apple will be compensating its new executives, but a recent interview with Cook on the CBS news program 60 Minutes left no doubt as to how the company feels about paying out taxes to Uncle Sam.

When asked by interviewer Charlie Rose how he felt when politicians called the company a tax avoider, Cook responded by saying that Apple pays more taxes in America than anyone.

Rose then brought up the idea, proposed by some politicians, that Apple is in fact "engaged in sophisticated scheme to pay little or no corporate taxes on $74 billion in revenues held overseas," to which an increasingly animated Cook shot down immediately.

"That is total political crap," Cook said. "There's no truth behind it. Apple pays every tax dollar we owe."

**Elite 100 2016: DEADLINE EXTENDED TO JAN. 15, 2016** There's still time to be a part of the prestigious InformationWeek Elite 100! Submit your company's application by Jan. 15, 2016. You'll find instructions and a submission form here: InformationWeek's Elite 100 2016.

Nathan Eddy is a freelance writer for InformationWeek. He has written for Popular Mechanics, Sales & Marketing Management Magazine, FierceMarkets, and CRN, among others. In 2012 he made his first documentary film, The Absent Column. He currently lives in Berlin. View Full Bio

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Angelfuego
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Angelfuego,
User Rank: Ninja
1/27/2016 | 8:45:06 PM
Re: Timmy Cook: The 10M Dollar Man (Puppet)
@ Susan, I agree with you about not dictating how someone's income should be spent, including Tim Cook.  It is there business. I am indefferent about how much money athletes, Tim Cook, and researcers make. More power to them. I can't judge it, because I know I wouldn't complain if I had their salaries.
Susan Fourtané
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Susan Fourtané,
User Rank: Author
1/24/2016 | 8:35:32 AM
Re: Timmy Cook: The 10M Dollar Man (Puppet)
Angelfuego, 

I was talking about soccer (football), not American football (rugby). No, you will not convince me because I have had this same view all my life and I don't see myself changing the way I see it at this point. :) Plus, I think you are not getting my point. Or, maybe you do but simply think differently, which is fine. 

And thanks. I also respect your points and enjoy discussing with you. The same we were saying with Technorati, we usually agree but this time we have different viewpoints. I also agree with you that we have the opportunity to see things from a different perspective when we exchange our opinion and views. This is what makes these conversations interesting. We learn from each other to think about things from a different angle. 

This time, for example, I revisited my own views to see if I still think the same. And I do. This also helps me  to reasure that I have been constant in the way I think, standing by my point of view, seeing that it's still consistent. 

I also appreciate the fact that you always express your thoughts. You don't just go saying you agree, or disagree. This is precisely what makes conversations with you interesting. :) 

It's really nice exchanging opinions with you. It's nice to learn about how others think. We are individuals with our own views. That's beautiful.  

-Susan 
Susan Fourtané
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Susan Fourtané,
User Rank: Author
1/24/2016 | 8:13:33 AM
Re: Timmy Cook: The 10M Dollar Man (Puppet)
Angelfuego, 

Historically, teachers have never earned enough considering they have to be well qualified and have some good personal qualities since they are in change of the education of the population. Teachers' salaries have always been quite low everywhere. 

When I was referring to "football" I was talking about "soccer." They are all overpaid and come on, playing that game is not rocket science. I know plenty of researchers that earn much less and their work is more valuable. Because, I do believe someone who works in science, descovers vaccines that will help safe lives, etc. deserve to be compensated more that someone who kicks a ball. 

As I said before, many people who make donations don't want their name to be public. I don't know and I don't care about what Tim Cook does with his money. I don't think I have the right to judge or have an opinion on someone else's finances. 

-Susan 
Angelfuego
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Angelfuego,
User Rank: Ninja
1/23/2016 | 1:20:22 PM
Re: Timmy Cook: The 10M Dollar Man (Puppet)
@ Susan,  I don't equate educational level with salary. There are plenty of people without college that get paid more than me. I have two Master Degrees and most of my friends that don't have managed to become successful entrepreneurs. A good friend of mine has a Master's and only earns $20,000 a year right now. Sanitation workers earn more than teachers in some states.  I am not knocking Tim Cook's salary. I think more power to him. I don't feel the need to dictate how he spends his money. I just think it would be neat if some of it went to good causes, which I bet it does.
Angelfuego
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Angelfuego,
User Rank: Ninja
1/23/2016 | 1:13:53 PM
Re: Timmy Cook: The 10M Dollar Man (Puppet)
@ Technocrati, You made a good point about the tax payers making up the difference.
Angelfuego
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Angelfuego,
User Rank: Ninja
1/23/2016 | 12:59:47 PM
Re: Timmy Cook: The 10M Dollar Man (Puppet)
@Susan, Some athletes do give back to the world through Make A Wish Foundation, donating money for good causes, motivational speaking, volunteering, etc. In American Football, only the kicker kicks the ball. The quarterback throws the ball.  The wide receiver, running back, and the tight end catch the ball. It may sound easy but its not an easy sport. I doubt I am convincing to you, but nevertheless, I always appreciate your comments. We tend to agree on a lot of issues. Sometimes, you make me look at things differently. Even when we don't agree, I always respect your point of view.
Technocrati
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Technocrati,
User Rank: Ninja
1/20/2016 | 11:32:24 PM
Re: Timmy Cook: The 10M Dollar Man (Puppet)

Susan - 

It was never about asking Cook to discuss his income.   The question was, was he worth it ?   This  is a question that we are more than entitled to ask.  Apple is an American company, they expect the rights that come with that - among them the right to have companies off shore and not pay a dime of taxes on it. 

This of course is an American Law at the moment, which Apple has adroitly used for it's own benefit.  In effect asking the American tax-payer to quasi ( some would argue an actually) subside a major operational expense.

Now it is not illegal to do what they have done nor are they alone by any means - I think most major enterprises function in this way. But a certain amount of revenue must be injected into the system in order for it to function.   And if companies don't pay their fair share, who do you think makes up the difference ?   The tax payer of course.

I mention this only to show one of the main reasons anyone with some  intelligence would and should ask this question of a person who has taken over the highest valued company in the World.  

Americans are in effect unofficial shareholders of every major successful corporation that operates within their boarders, because they all pay less then they should.

Which only underscores the reason we should hold those that run these companies accountable.

I was only focusing on Cook's fein attempt to placate those asking about minority engineer representation within the upper ranks of Apple.  If they say they don't have enough - it is because they are not looking.

And of course this eventually lead to my statement that he should put his money where his mouth is.

All of this comes before any thought of wondering how he actually spends his money.

Doesn't matter to me - but it is clear there is little courage of conviction  and to be fair the same could be said of every Tech company out there.

No one is calling them to the carpet - I just did.

On lighter note, I do agree we have agreed so long that it is refreshing for us not to see eye to eye.   You push me to new frontiers in thought and expression and I thank you for that.

You are right - that is what these communities are all about - the exchange of ideas and beliefs which in the end make you a more enlightened person in every sense. 

I am a firm believer that if you cannot defend your position, one cannot reasonably hold it - so I hope I was able to do so - otherwise I will keep trying.  : )   

I honestly did not want to go this far on the topic, but I am glad I did because it needed to be said.

 

And when all is said and done, Yup, We're both the best ! 

; ) 

 

 

 

Susan Fourtané
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Susan Fourtané,
User Rank: Author
1/20/2016 | 2:14:30 PM
Re: Who has the right?
Angelfuego, 

That's not always the case with professional athletes. Many of them never go to collage or anything. We are not going to agree here because I will never think it's Okay for a football player, for example, to earn way more than a researcher, or other professionals who have spent decades of their life studying to earn degrees. 

And certainly is not the same responsibility to be the CEO of a company like Apple than to kick a ball to win a game. 

-Susan 
Susan Fourtané
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Susan Fourtané,
User Rank: Author
1/20/2016 | 1:56:16 PM
Re: Who has the right?
Angelfuego, 

Yes, that's what I think. No matter if the person is a public figure or not everyone should have the same right to privacy when it comes to their salary. 

Can't you do anything about it? 

-Susan 
Susan Fourtané
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Susan Fourtané,
User Rank: Author
1/20/2016 | 6:24:18 AM
Re: Who has the right?
Technorati, 

Public fugure or not I don't think it's right to tell anyone what they should do with they money. I know I wouldn't. Would you? 

There are plenty of people who make donations and contribute to causes who ask to not make their donations public. I personally wouldn't jump to conclusions here.  

It's the policy of the company not to reveal anything, or not too much about the plans they have. 

-Susan
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