Why Did Apple CEO Tim Cook Take A Large Pay Cut?

Tim Cook, Apple CEO,
has taken a pay cut of
$35 million due to global
economic challenges.

Cook's pay will drop from $84
million in 2022 to $49 million in
2023, at his own recommendation.

The pay change is entirely
from an adjustment in his
equity value.

Cook's base salary of $3
million and his annual cash
incentive of $6 million will
remain the same.

Apple's board adjusted
Cook's compensation based
on feedback, performance
and his recommendation.

Cook's total compensation
in 2022 was $99.4 million
according to the SEC filing.

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Apple's market cap has dropped $1
trillion from its peak a year ago due
to production challenges in China.

Apple's manufacturing in
China has been impacted
by a fresh wave of Covid
infections.

Apple's market cap has
dropped, but other tech
companies have seen
bigger percentage declines.

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