Apple Shareholders Urged To Oppose CEO Tim Cook's $99 Million Pay Package
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Apple Inc. investors should vote against the $99 million pay package awarded last year to Chief Executive Officer Tim Cook, a shareholder adviser firm recommends.
Apple Inc. investors should vote against the $99 million pay package awarded last year to Chief Executive Officer Tim Cook, a shareholder adviser firm recommends.
Half of Cook's 2021 award is time-based and doesn't depend on satisfying performance criteria such as increases in Apple's share price, Rockville, Maryland-based Institutional Shareholder Services said in a report. Moreover, even if Cook, 61, were to retire, the award would continue to vest, ISS said in urging shareholders to oppose the pay package at the company's annual meeting on March 4.
“There are significant concerns regarding the design and magnitude of the equity award made to CEO Cook,” ISS said in the report.
A spokesperson for Cupertino, California-based Apple declined to comment on the ISS report.
