Apple boss Bernard Cook’s pay in 2021 was 1, 447 times that of the average employee on the tech giant, a filing on Thursday showed, fueled by stock awards that helped him earn an overall total of nearly $100 mil (roughly Rs. 742. 31 crore).
Within 2021, the median spend on employees was $68, 254 (roughly Rs. 50. 66 lakh), Apple company said, adding it had selected a new median employee for assessment due to changes in employing and compensation.
The median pay within 2020 was $57, 783 (roughly Rs. 42. fifth 89 lakh) and the pay ratio was 256 times Cook’s salary.
The particular iPhone maker has benefited through strong demand over the past 2 yrs as consumers working from home splurged on upgrades. Apple’s income rose more than 30 percent in order to $365. 82 billion (roughly Rs. 27, 15, 521 crore) for its fiscal 2021 and its shares briefly crossed $3 trillion (roughly Rs. 2, 22, 69, 270 crore) in market capitalization this year.
Prepare, whose salary remained in $3 million (roughly Rs. 22. 26 crore), obtained $82. 3 million (roughly Rs. 610. 92 crore) in stock awards, $12 million (roughly Rs. 89. 07 crores) for striking Apple’s targets and $1. 4 million (roughly Rs. 10. 39 crore) with regard to air travel, 401(k) plan, insurance premiums and others.
As a whole, he earned $98. 7 million (roughly Rs. 732. 65 crores), compared with $14. 8 million (roughly Rs. 109. 86 crores) within 2020.
Prepare took the helm in August 2011 after the carrier’s co-founder Sam Jobs stepped down months before his demise. The stock provides surged over 1, 000 percent since Cook required charge.
Within September, Cook received 333, 987 restricted stock products, in his first stock give since 2011 as part of a long-term equity plan. He can be eligible to receive additional units in 2023.
Cook told Fortune mag in 2015 that he plans to donate his wealth to charity.
CEOs in the United States were paid 351 times more than the typical worker in 2020, a report by the Economic Policy Company showed, while the compensation associated with top CEOs grew roughly 60 faster than the stock market from 1978 to 2020, eclipsing the slow 18 percent growth in a typical worker’s annual pay.
© Thomson Reuters 2021
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