Apple CEO Tim Cook received total compensation of $74.6 million in 2024, marking an 18% increase from his $63.2 million earnings in 2023, according to the company’s annual proxy filing released Friday.
The compensation package includes a $3 million base salary, $58 million in stock awards, $12 million in performance-based bonuses, and $1.5 million in other benefits. The additional compensation covers security expenses, private air travel, 401(k) contributions, life insurance premiums, and vacation cash-outs.
While Cook’s 2024 earnings exceeded the company’s target compensation of $59 million due to strong performance-based incentives, they remained well below his 2022 compensation of nearly $100 million. Cook and Apple’s Board of Directors had previously agreed to reduce his total compensation following employee and shareholder concerns about the 2022 package.
The filing revealed that Apple’s board has made no changes to Cook’s compensation structure for 2025, citing his “continued exceptional performance” as CEO. The company requires Cook to use private aircraft for all business and personal travel, citing security and efficiency considerations given his high-profile role.
Other top Apple executives, including former CFO Luca Maestri, retail chief Deirdre O’Brien, chief operating officer Jeff Williams, and general counsel Kate Adams, each earned approximately $27.2 million in 2024, showing modest increases from the previous year.
