Tim Cook faces shareholder revolt

Stefan Mileschin · 18th February 2022, 07:38

We are paying him too much

Proxy advisory firm Institutional Shareholder Services (ISS) urged Apple investors to vote against Chief Executive Officer Tim Cook's remuneration, citing concerns around the magnitude and structure of his equity award.

Apple will hold its annual shareholder meeting in the first week of March and on the agenda is paying Tim Cook oddles of cash.

ISS said that there were significant concerns regarding the design and magnitude of the equity award made to CEO Cook in FY21 and half of the award lacks performance criteria.

In 2021 Cook took home $3 million in salary and received $82.3 million in stock awards, $12 million for hitting Apple's targets, $1.4 million for air travel, 401(k) plan, insurance premiums and others.

In total, he earned $98.7 million in 2021, compared with $14.8 million a year earlier.

He received 333,987 restricted stock units, in his first stock grant since 2011 as part of a long-term equity plan. He will be eligible to receive additional units in 2023.

ISS valued Cook's 2021 equity award at $75 million. His pay was 1,447 times that of the average employee at the tech giant, according to a filing disclosed in January.

"Half of the $75 million award is purely time-based, and the award would continue to vest in full in the event of his retirement," ISS wrote.

https://fudzilla.com/news/54396-tim-...eholder-revolt

18th February 2022, 07:38	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,802	Tim Cook faces shareholder revolt We are paying him too much Proxy advisory firm Institutional Shareholder Services (ISS) urged Apple investors to vote against Chief Executive Officer Tim Cook's remuneration, citing concerns around the magnitude and structure of his equity award. Apple will hold its annual shareholder meeting in the first week of March and on the agenda is paying Tim Cook oddles of cash. ISS said that there were significant concerns regarding the design and magnitude of the equity award made to CEO Cook in FY21 and half of the award lacks performance criteria. In 2021 Cook took home $3 million in salary and received $82.3 million in stock awards, $12 million for hitting Apple's targets, $1.4 million for air travel, 401(k) plan, insurance premiums and others. In total, he earned $98.7 million in 2021, compared with $14.8 million a year earlier. He received 333,987 restricted stock units, in his first stock grant since 2011 as part of a long-term equity plan. He will be eligible to receive additional units in 2023. ISS valued Cook's 2021 equity award at $75 million. His pay was 1,447 times that of the average employee at the tech giant, according to a filing disclosed in January. "Half of the $75 million award is purely time-based, and the award would continue to vest in full in the event of his retirement," ISS wrote. https://fudzilla.com/news/54396-tim-...eholder-revolt

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Disney and Fox's $71.3 billion merger gets shareholder approval	Stefan Mileschin	WebNews	0	30th July 2018 08:03
Qualcomm faces shareholder lawsuit	Stefan Mileschin	WebNews	0	29th May 2017 08:47
Xerox spin-off opposed by shareholder	Stefan Mileschin	WebNews	0	15th October 2016 14:18
Softbank’s shareholder furious over ARM deal	Stefan Mileschin	WebNews	0	21st July 2016 05:36
Nokia faces shareholder revolt over the French	Stefan Mileschin	WebNews	0	1st May 2015 13:53
Bill Gates No Longer Microsoft's Largest Shareholder	Stefan Mileschin	WebNews	0	5th May 2014 08:01
Banned! Google Glass Prohibited at Shareholder Meeting	Stefan Mileschin	WebNews	0	10th June 2013 07:58
Olympus confirms that Sony is now its largest shareholder	Stefan Mileschin	WebNews	0	25th February 2013 08:50
Shareholder accuses HP of lying about Autonomy write-down	Stefan Mileschin	WebNews	0	22nd December 2012 06:34
AOL shareholder says Microsoft sale not good enough	Stefan Mileschin	WebNews	0	11th April 2012 08:43