Apple's CEO Must Fly Private Aircrafts For Security Reasons

Herbert Rhodes
December 29, 2017

Cook's total compensation for 2017 jumped to $12.8 million - a roughly 47 percent increase from past year. "Apple exited the quarter with some iPhone 8 inventory due to softer than expected demand compared to the iPhone 7 series", Counterpoint said.

This year, Apple saw a major rebound across almost all of its categories.

Get tech news in your inbox weekday mornings.

The company bounced back in 2017, spurred on by impressive Watch sales and the release of three new iPhones; its stock performance mirrored Cook's compensation increase, running 47 percent since January 1.

The company has made a decision to spend after Cook's security as well. "As we approach our holiday season, we expect it to be our biggest quarter ever". Adding $89.2 million in equity award, Cook brought home a whopping $102 million in 2017, minus compensations. Separately, his received a massive increase in his annual bonus, thanks to earnings rebound for the company.

More news: United States, Turkey Resume Visa Services

Camera IconApple Chief Executive Tim Cook posed for a selfie with customers during the debut of the iPhone X at an Apple Store. They will receive around $24.2 million each.

Senior retail vice president Angela Ahrendts eked out the highest paid honor by less than $100,000 due to additional compensation to help Ahrendts - the former Burberry CEO - move "closer to Apple's headquarters", according to the SEC filing.

Fiscal 2017 was also a good one for shareholders, as Apple's stock rose 36.7 percent over the 12 months.

Apple's chief executive Tim Cook has been ordered by the firm to use only private jets for both business and personal transport. In 2017, it was nearly identical, at $224,216, but included the addition of personal air travel expenses in the amount of $93,109.

A filing with securities regulators this week said the board determined that its CEO must use private aircraft for "all business and personal travel". The flight policy went into effect in 2017 "in the interests of security and efficiency" based on Cook's "highly visible" role as CEO.

Other reports by TheSundaySentinel

Discuss This Article