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Apple CEO gets salary raise after higher profits through iPhone sales

29 December 2017

A filing with securities regulators this week said the board determined that its CEO must use private aircraft for "all business and personal travel". Cook has not received an equity award since 2011, when he was named CEO after serving previously as COO. The flight policy was implemented in the interest of efficiency and security in 2017, based on the highly visible role as CEO of Cook. Mr. Cook recognizes imputed taxable income and is not provided a tax reimbursement for personal use of private aircraft.

Apple's total tab for Cook's personal trips on the private plane was $93,109 in the 2017 fiscal year, which ended in September.

"This compares with the $8.7 million he was paid a year earlier when his salary was $3 million, bonus $5.4 million and additional compensation came in at $378,000", the report added.

Apple CEO Tim Cook's paycheck got a hefty addition thanks to the tech giant's performance boost in 2017.

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The market capitalisation for the iPhone maker has been hovering around $US900 billion (more than $A1 trillion) and is up almost 50 per cent for the year.

The election is set to occur on Apple's next shareholders meeting February 13 at the Steve Jobs Theater in Apple Park.

Additionally, their claims are supported by documentation that shows stock price increased 36.7 percent, as also indicated in the abovementioned statement. Being the top performer in the smartphone industry in the last quarter, Apple brought home nearly United States dollars 151 more than Samsung. Overall, it led to lower-than-expected sales of the iPhone lineup. "However, this is down from 86 per cent share in the same quarter previous year when Samsung had to gulp up a loss due to the Galaxy Note 7 debacle", said Research Director Neil Shah.

That, along with some bearish brokerage calls on iPhone X demand, put its shares on track for their worst single-day per centage fall since August 10. That amount also includes Apple stock that vest only if they stay with the company. Chinese brands such as Huawei, Oppo and Xiaomi are also fighting for customers in China and other emerging markets, Bloomberg reports.

Apple CEO gets salary raise after higher profits through iPhone sales