Apple CEO Tim Cook collected a total compensation package of $74.6 million in 2024, up from $63.2 million in 2023.
The total amount, which includes $3 million in salary and $58.1 million in stock awards, with the remainder categorized as non-equity pay incentives and “other” pay.
While the 2024 amount puts Cook in the top echelon of corporate executives, it is still well below his 2022 pay package of $99.4 million.
The compensation figures were revealed in a proxy statement Friday afternoon. The proxy also signaled the February 25 date of the company’s annual shareholder meeting, which is when a set of proposals are put to a vote. One of the proposals calls for Apple to discontinue its diversity, equity and inclusion policy, but the company said it opposes the proposal.
“The proposal is unnecessary as Apple already has a well-established compliance program. The proposal also inappropriately attempts to restrict Apple’s ability to manage its own ordinary business operations, people and teams, and business strategies,” the company said in the proxy statement.
Luca Maestri, who recently stepped down as CFO, collected $27.2 million in 2024, roughly in line with his pay in 2022 and 2023. Kate Adams, SVP, General Counsel and Secretary; Deirdre O’Brien, SVP, Retail + People; and Chief Operating Officer Jeff Williams were all close to the same level as Maestri in 2024.
Apple had a solid 2024 but experienced some headwinds due to the high level of expectations it set with iPhone sales, which account for half of the tech giant’s total revenue. Despite some friction in its hardware business, Apple shares still rose by more than 30% in 2024, giving the company a market valuation of $3.6 billion.
