Apple CEO Tim Cook Earned $10.3M in Fiscal 2015, Up From $9.2M in 2014

Apple CEO Tim Cook’s compensation for fiscal 2015 was $10,281,327, according to a newly released SEC filing. That breaks down to a salary of $2 million, non-equity incentive compensation of $8 million, and other compensation of $280k. Cook earned approximately $1 million more than he did in fiscal 2014, when he brought in $9.2 million.

Last year, with stock awards and hiring bonuses, Apple retail chief Angela Ahrendts earned $73 million, but in 2015, her compensation was $25.8 million, in line with other Apple executives, all of whom received $20 million in stock awards and $4 million in non-equity incentive compensation in addition to their $1 million salaries.

Senior executives Bruce Sewell, Dan Riccio, Eddy Cue, and Luca Maestri all earned more than $25 million in 2015, numbers that do not include restricted stock units that vested in 2015. Over the course of the year, Tim Cook received 560,000 shares of stock worth over $57 million, Angela Ahrendts received 391,634 shares worth $50 million. Eddy Cue, Dan Riccio, Bruce Sewell, and Luca Maestri also had shares worth between $11 million and $38 million vest.

Under the guidance of Tim Cook, Apple had another record year, generating $233.7 billion in sales, an increase of 28 percent over 2014 and a new high for the company. Earnings per diluted share were at $9.22, up 43 percent from 2014. According to its October forecast, Apple expects to continue its record earnings streak into 2016, with projected revenue between $75.5 and $77.5 billion for the first quarter of 2016.

Apple will announce its earnings for the first fiscal quarter of 2015 on Tuesday, January 26. MacRumors will provide live coverage of both the earnings release and the conference call.
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Apple Confirms 12-Inch MacBook Shown on ’60 Minutes’ as Fake ‘iPhone 7’ Video Surfaces

Apple has confirmed to Tech Insider that the notebook pictured behind Apple general counsel Bruce Sewell during the 60 Minutes special Inside Apple is the 12-inch MacBook released in April, debunking some users on Reddit and social media who speculated the notebook could be an ultra-thin MacBook Pro.

12-inch MacBook pictured behind Apple general counsel Bruce Sewell (Image: CBS)

The chances of Apple leaving an unreleased MacBook in plain sight for a national TV program were slim to begin with, especially in a room full of Apple’s top executives. In a later segment, Apple even covered desks in its secretive design studio so that cameras could not capture what the company is working on next.

The rumor mill is also abuzz after a fake „iPhone 7“ leaked video circulated on social media this week. The sketchy video, spotted by French website Nowhereelse.fr, falsely depicts an alleged Foxconn employee handling a purported next-generation iPhone prototype that seemingly lacks a home button.

The staged video from „ViralVideoLab“ shows a metallic device with an Apple logo, but it is noticeably thicker than the iPhone 6s and includes regulatory markings that are questionable for such an early prototype. The prototype more closely resembles an HTC One M9 with thin bezels along the top and bottom of the screen.

Foxconn has been the source of iPhone leaks in the past, including the iPhone 6 rear shell and dimensions, but it is unlikely Apple has provided the supplier with an assembled „iPhone 7“ prototype over nine months ahead of its expected release. No other physical components for the next-generation iPhone have leaked to date.

Related Roundup: iPhone 7 (2016)
Tag: 60 Minutes
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Apple Executives Receive More Than 30,000 Restricted Shares in Bonuses [Mac Blog]

Six Apple executives received more than 30,000 shares of stock in the form of restricted stock units or RSUs according to a series of filings with the SEC. RSUs are typically issued to employees to encourage them to stay with the company. They are awarded in a similar way to stock options, but convert directly into shares of stock upon vesting.

At current prices, the awards are worth as much as $12.1 million per executive.

In this case, the shares appear to have been awarded as part of the executives’ 2014 compensation package. Apple Senior Vice Presidents Eddy Cue, Craig Federighi, Dan Riccio, Phil Schiller, Bruce Sewell, and Jeffrey Williams all received equal bonus awards, with shares granted thusly:

– 22,738 RSUs with one-third of the units scheduled to vest into full shares of Apple stock on April 1 of 2016, 2017 and 2018.

– 6,626 RSUs scheduled to vest on October 1, 2015, with that number subject to adjustment based on Apple’s total shareholder return.

– 6,416 RSUs scheduled to vest on October 1, 2016 with the same adjustments as the 2015 award.

In June of 2013, Apple’s board adjusted the company’s executive compensation package to consider shareholder return, as compared to companies in the S&P 500, as part of senior management’s bonus scheme. In this case, Apple executives can see their award increased by as much as 100%, or decreased to 0, depending on the company’s performance.

Apple executives typically receive bonus awards every other year, with bonuses paid out over several years as part of the company’s overall executive retention package. Executives who leave the company see their unvested RSU’s expire. Tim Cook did not receive any awards as his compensation package is determined independently of his senior staff.




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