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Apple, as a public company, is obliged to divulge its financials. According to its latest financial reports, CEO Tim Cook received compensation valued at US$9.22-million in 2014, more than double his pay in 2013 which was valued at US$4.25-million, as belief in Apple new products pushed the iPhone maker’s stock to a record.
The CEO’s compensation last year included security expenses of US$699 133.
Cook’s package includes salary of US$1.75 million and US$6.7-million in non-equity incentive compensation for the fiscal year that ended in September, the Cupertino-based giant revealed in a filing with the US Securities and Exchange Commission.
Read more: Apple market value hits $700bn
Other high ranking Apple Inc employees to have received high salaries include Angela Ahrendts, CEO of Apple’s retail and online stores from Burberry Group Plc, who received a compensation package worth US$73.4-million in 2014. Her salary was US$411 538. This includes US$70-million worth of stock. Luca Maestri, promoted to chief financial officer in 2014, received pay worth US$14-million, including a salary of US$717 211 and US$11.3-million in stock. Eddy Cue, head of Internet software and services, and Jeff Williams, head of operations, both received packages worth about US$24 million, including salaries of US$947 596 and stock worth around US$20-million.
Cook appears to have been something of a lucky charm for Apple. The company’s stock rose to US$119.75 in November, making the company the first in the US to be valued at more than US$700 billion. Cook also rolled out a mobile-payment system called Apple Pay, and this year will debut the company’s first smartwatch.
Apple’s full year net income of the 2014 fiscal year was US$39.5-billion, an increase from US$37-billion in 2013.