Apple shareholders urged to vote against the CEO Tim Cook’s swelling bonus.

The data reveals the total income of Tim Cook in 2021 was $98.7 million (740 crores) when compared with $14.8 million (110 crores) in 2020.

CEO Tim Cook has received a salary of $3 million (INR 20 crore) in 2021.

Highlighted Points

• CEO Tim Cook has received a total stock unit of 333,987 last year.
• The authority ISS has calculated the awarded amount of Tim Cook is $75 million (560 crores).
• Cook has taken about $ 3 million (20 crores) rupees in salary.

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The advisory firm Institutional Shareholder Services (ISS) urged the Inc investors to not vote in favor of Chief Executive Officer Tim Cook’s remuneration, citing concerns about the magnitude and structure of his equity award.

 The news has been released that Apple will hold its first shareholder meeting in the first week of March.

ISS said on Wednesday in a letter “There are significant concerns regarding the design and magnitude of the equity award made to CEO Cook in FY 21…Half of the award lacks performance criteria,” the authority told on Wednesday in a letter.

The Authority has also revealed some of the data of Tim Cook’s Equity as he took home $3 million (roughly 20 crores) as a salary, received 83.2 million (INR 620 crore) in the stock award, $12 million (INR 90 crore) for hitting’s Apple target, he also received $1.4 million (INR 10 crore) for air travel, and he also bagged 401 (K) plan, insurance premiums, and others.

In terms of the total award, he received in 2021 is $98.7 million (roughly 740 crores) compared to $14.8 million (roughly 110 crores) in the previous year in 2020.

He has already received the equity as 333,987 restricted stock units in 2011 when the first stock grant happened as part of a long-term equity plan. His account will be eligible to get more units in 2023.

ISS state

“Half of the $75 million (INR 560 crore) award is purely time-based and the award would continue to vest in full in the event of his retirement,” the authority said.

The giant company Apple has denied mentioned any comment regarding the news and referred to the company’s proxy filing detailing Cook’s performance-based compensation.

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