Apple CEO Tim Cook to take more than 40% pay cut
New York, Jan 13: Apple CEO Tim Cook will take a more than 40% pay cut this year from a year earlier as the company adjusts how it calculates his compensation partly based on a recommendation from Cook himself.
Apple Inc. said in a regulatory filing late Thursday that Cook's target total compensation is 49 million for 2023, with a
3 million base salary, and 6 million cash incentive both unchanged from the previous year and 40 million in equity awards.
Last March the Cupertino, California, company conducted an advisory shareholder vote on executive pay with 6.21 billion shares voted in favour of the executive pay package and 3.44 billion against.
There were also abstentions and broker non-votes.
Apple said its compensation committee took into account shareholder feedback, the company's performance and a recommendation from Cook, who was promoted to to CEO in 2011, to adjust his compensation in light of the feedback received.
Apple said Cook supported the changes to his compensation.
The company plans to to position Cook's annual target compensation between the 80th and 90th percentiles relative to its primary peer group for future years, according to the filing.
In 2021, Cook received a compensation package valued at 98.7 million. Just 3 million of that was salary. The vast majority came from a grant of restricted stock, valued at 82.3 million.
The company will hold its annual meeting March 10.
In early trading, Apple shares edged down to 132.38. The stock has declined about 23% in the past year.
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Kalaburagi Jail Chief Superintendent gets threat
Kalaburagi (Karnataka), Nov 28: Kalaburagi Jail Chief Superintendent R Anitha on Thursday said that an unknown person sent an audio message via a police inspector claiming that they will blow up her car.
However, police said they have not received any complaints in this regard.
Speaking to reporters here, Anitha said, "Somebody has sent an audio message to the police inspector saying that they will blow up my car. I personally did not receive any such message so far, so I would not be lodging any police complaint."
Following the alleged threat, Anitha said she would be more cautious now.
Last month, after Anitha took charge as the Chief Superintendent of Jail, raids were conducted and searches were intensified after photographs and video clips purportedly showing three inmates getting special treatment in the Kalaburagi Central prison went viral on social media.
Following the raids, cell phones, gutka and cigarette packets and beedis were seized from the inmates.
